ID :
202301
Fri, 08/19/2011 - 10:41
Auther :
Shortlink :
https://oananews.org//node/202301
The shortlink copeid
MORE US COMPANIES 'TO INVEST IN M'SIA'
KUALA LUMPUR, Aug 19 (Bernama) -- Outgoing director-general of the Malaysian Investment Development Authority (MIDA) Jalilah Baba said the recent United States credit rating downgrade may encourage more US companies to invest in Malaysia.
She said that with the downgrade, US investors would find it hard to get credit from their banks and "this is a push factor for them to go outside of the country and find competitive countries to operate businesses".
"The US will remain our major investor. I am confident the total investment for this year will exceed RM50 billion (US$16.74 billion).
"We are still confident of this target based on the January-June performance where the total investment stood at RM28.6 billion (US$9.57 billion) with 453 projects approved, and more than 400 still being negotiated," Jalilah, who retires on Friday, told a media conference here.
Meanwhile, Chief Secretary to the Government Mohd Sidek Hassan, in a statement here on Friday said Noharuddin Nordin has been appointed to succeed Jalilah effective Aug 20.
Noharuddin, 55, formerly the Chief Executive Officer of the Malaysian External Trade Development Corporation (MATRADE), was chosen for his experience and knowledge that could help MIDA in creating the best investment environment and services, in line with the country's aspiration as outlined in the Economic Transformation Programme (ETP), a focused, inclusive and sustainable initiative that will transform Malaysia into a high-income nation.
--BERNAMA
She said that with the downgrade, US investors would find it hard to get credit from their banks and "this is a push factor for them to go outside of the country and find competitive countries to operate businesses".
"The US will remain our major investor. I am confident the total investment for this year will exceed RM50 billion (US$16.74 billion).
"We are still confident of this target based on the January-June performance where the total investment stood at RM28.6 billion (US$9.57 billion) with 453 projects approved, and more than 400 still being negotiated," Jalilah, who retires on Friday, told a media conference here.
Meanwhile, Chief Secretary to the Government Mohd Sidek Hassan, in a statement here on Friday said Noharuddin Nordin has been appointed to succeed Jalilah effective Aug 20.
Noharuddin, 55, formerly the Chief Executive Officer of the Malaysian External Trade Development Corporation (MATRADE), was chosen for his experience and knowledge that could help MIDA in creating the best investment environment and services, in line with the country's aspiration as outlined in the Economic Transformation Programme (ETP), a focused, inclusive and sustainable initiative that will transform Malaysia into a high-income nation.
--BERNAMA
