MIDA EYEING MORE FOREIGN INVESTMENTS IN AEROSPACE INDUSTRY

By Premalatha Jayaraman

KUALA LUMPUR, Sept 27 (Bernama) -- The Malaysian Investment Development
Authority (MIDA) is looking to bringing in more foreign investments especially
in the aerospace industry, says its Director-General Jalilah Baba.

She said the government is giving emphasis and priority to the industry by
giving it the best incentives.

Pratt & Whitney, an American aircraft engine manufacturer, has expressed its
interest to look at Malaysia seriously, she told a press conference at the
two-day "Dawn of the New Decade: Alternative Internative in Asia" forum, which
took off here Monday.

"We have just completed negotiations with them (Pratt & Whitney). I think
they are coming and talking to a few Malaysian aerospace companies," she said.

Malaysia has good aerospace companies and they are in the forefront, she
added.

Jalilah said MIDA will also continue to keep a friendly environment to
attract more foreign direct investments into the country.

It will look at the issues faced by investors, she said, adding that MIDA
currently had 20 overseas centres.

Meanwhile, MIDA's chairman, Dr Sulaiman Mahbob said there was a need
to liberalise more of the services sector to welcome more investments into the
country.

"We want to make sure the services sector contribute 60 per cent or more to
the country's growth. MIDA is working hard to promote the services sector," he
said during a panel session entitled "Traditional versus Alternative
Investment-Challenges and Opportunities in the new decade" moderated by IHT
chief editor for Asia, Philip McClellan.

-- BERNAMA