ID :
193789
Sat, 07/09/2011 - 07:16
Auther :
Shortlink :
https://oananews.org//node/193789
The shortlink copeid
M'SIAN INFRASTRUCTURE FIRMS ARE FRONTLINERS FOR PROJECTS IN INDIA, SAYS ENVOY
By Prem Kumar Panjamorthy
KUALA LUMPUR, July 9 (Bernama) -- Malaysian infrastructure firms which
have a strong foothold in India are in a better position to continuously
secure more projects in the country, says Indian High Commissioner to Malaysia,
Vijay K. Gokhale.
He said the prospects are good with India aiming to dish out more contracts
under its proposed 12th Five-Year Plan starting 2012, with a projected
investment requirement of US$1 trillion (about RM3.006 trillion).
Malaysian firms, he said, had a proven track record in winning and
completing infrastructure projects worth more than US$5 billion in the 11th
plan.
Gokhale said among Asian countries, India regards Malaysia as one of the
strongest players in the infrastructure industry, which the government
emphasises in its five-year plans.
"Most of the projects are handled via a global tender system.
"Thus, interested parties can visit the related official websites to
identify the infrastructure projects being offered currently and in future.
"I think Malaysia has a huge potential to succeed in securing the projects
compared to other Asian countries," he told BERNAMA in an interview.
On overall trade, Gokhale said the bilateral free trade agreement which
came into effect on July 1 this year and the official visit of Indian Prime
Minister Dr Manmohan Singh to Malaysia last year, is a clear indication that
both countries are on the right track to achieve an expected boom of RM46
billion (US$15 billion) in trade and investment by 2015.
On future trade, the High Commissioner said it will not only grow through
the traditional segments such as palm oil and its related products, crude oil,
electric & electronic products as well as the power transmission sector.
"Sectors such as food and beverages, fruits and vegetables, cocoa and
cocoa-related products are some of the new ventures, both countries are
currently looking at," he added.
Trade volume between the traditional partners rose by 16.4 per cent to
reach US$8.9 billion (RM26.7 billion) in 2010, in contrast to US$7 billion (RM21
billion) in 2009.
The two-way trade between India and Malaysia has continued its growth
streak, recording an impressive 30.4 per cent rise in the first four months of
2011, compared with the same period of last year.
According to the Malaysia External Trade Development Corporation (Matrade),
Malaysia's exports to India from January-April this year touched
RM8.61 billion, up 29.1 per cent over the same period previously.
Malaysia's imports from India for the four-month period amounted to RM3.51
billion, up 33.8 per cent in the previous year's corresponding period. This
clearly shows that the balance of trade is heavily tilted in Malaysia's favour
at RM5.10 billion.
"In coming years, India wishes to export more to Malaysia, thus, achieving a
better balance of trade," Gokhale said.
KUALA LUMPUR, July 9 (Bernama) -- Malaysian infrastructure firms which
have a strong foothold in India are in a better position to continuously
secure more projects in the country, says Indian High Commissioner to Malaysia,
Vijay K. Gokhale.
He said the prospects are good with India aiming to dish out more contracts
under its proposed 12th Five-Year Plan starting 2012, with a projected
investment requirement of US$1 trillion (about RM3.006 trillion).
Malaysian firms, he said, had a proven track record in winning and
completing infrastructure projects worth more than US$5 billion in the 11th
plan.
Gokhale said among Asian countries, India regards Malaysia as one of the
strongest players in the infrastructure industry, which the government
emphasises in its five-year plans.
"Most of the projects are handled via a global tender system.
"Thus, interested parties can visit the related official websites to
identify the infrastructure projects being offered currently and in future.
"I think Malaysia has a huge potential to succeed in securing the projects
compared to other Asian countries," he told BERNAMA in an interview.
On overall trade, Gokhale said the bilateral free trade agreement which
came into effect on July 1 this year and the official visit of Indian Prime
Minister Dr Manmohan Singh to Malaysia last year, is a clear indication that
both countries are on the right track to achieve an expected boom of RM46
billion (US$15 billion) in trade and investment by 2015.
On future trade, the High Commissioner said it will not only grow through
the traditional segments such as palm oil and its related products, crude oil,
electric & electronic products as well as the power transmission sector.
"Sectors such as food and beverages, fruits and vegetables, cocoa and
cocoa-related products are some of the new ventures, both countries are
currently looking at," he added.
Trade volume between the traditional partners rose by 16.4 per cent to
reach US$8.9 billion (RM26.7 billion) in 2010, in contrast to US$7 billion (RM21
billion) in 2009.
The two-way trade between India and Malaysia has continued its growth
streak, recording an impressive 30.4 per cent rise in the first four months of
2011, compared with the same period of last year.
According to the Malaysia External Trade Development Corporation (Matrade),
Malaysia's exports to India from January-April this year touched
RM8.61 billion, up 29.1 per cent over the same period previously.
Malaysia's imports from India for the four-month period amounted to RM3.51
billion, up 33.8 per cent in the previous year's corresponding period. This
clearly shows that the balance of trade is heavily tilted in Malaysia's favour
at RM5.10 billion.
"In coming years, India wishes to export more to Malaysia, thus, achieving a
better balance of trade," Gokhale said.
