M'SIA ON TRACK TO ACHIEVE RM25 BLN PRIVATE INVESTMENT

KUALA LUMPUR, Nov 1 (Bernama) -- Malaysia is on track to achieve total private
investment of RM25 billion this year following government measures to create
conducive environment to do business in the country, Deputy International Trade
and Industry Minister Mukhriz Mahathir said Monday.

He said foreign direct investment inflows were estimated RM11.5 billion till
August while domestic investments RM7.5 billion. (US$1=RM3.09)

"It has been very encouraging in term of number of companies that came in to set
up their regional offices or operations here in the country," he told reporters
after opening an internalisation and innovation strategy seminar organised by
the Asian Strategy and Leadership Institute here.

He said most of these companies regarded Asean as a major economic growth centre
while their home markets experienced lower growth or in some cases, a decline.

"When they look at Asean, Malaysia stands out as a country that has all the
facilities and positive points and reasons why they need to be here," he said.

On efforts to address gas supply issues, Mukhriz said: "The government will
continue to increase gas supply."

He said Petronas would implement a regasification project with an investment
of RM3 billion in Melaka. It will be operational by 2012 to meet the increase in
gas demand by industries as announced in Budget 2011.

Mukhriz also said an Act was being drafted to enable the Special Innovation
Unit (Unik) under the Prime Minister's Department commercialise R&D findings by
universities and research institutions.

"I can't say for sure exactly when it will be tabled in Parliament but I
expect, if not by end of this year probably sometimes next year," he said.

He said Unik would become a one-stop centre where policies and strategies
for a conducive ecosystem would be formulated to drive innovation.

Several programmes and activities would be introduced to enhance innovation,
creation and commercialisation of new products, he said adding that for 2011,
RM71 million had been allocated for Unik.
-- BERNAMA



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