Mida Upbeat On Investment Opportunities In India, Sri Lanka

By Nurunnasihah Ahmad Rashid KUALA LUMPUR, May 11 (Bernama) -- The Malaysian Investment Development Authority (Mida) is optimistic that India and Sri Lanka offer a lot of investment opportunities for Malaysian construction and infrastructure industry players amid the two countries' ongoing economic reforms. "In the meeting with the Chief Minister of Andhra Pradesh (AP) and Telangana's Minister of Information Technology (IT), the areas highlighted included aerospace, auto parts manufacturing, pharmaceuticals, IT design and the life sciences industry. "We are holding discussions with various parties from India on the possibility of forming joint ventures to bid for and, where successful, carry out the next step," Mida Deputy Chief Executive Officer II, N. Rajendran, told Bernama. He made the remarks when summing up the trade and investment mission to India and Sri Lanka led by Minister of International Trade and Industry Mustapa Mohamed on May 1-6. Rajendran said Malaysia also welcomes the AP Economic Development Board's (APEDB) initiative to establish a regional representative office in Malaysia. "The Chief Executive Officer of APEDB, J. Krishna Kishore IRS, said that they are seriously looking to establish it soon, and Mida will be working closely together to facilitate investment both ways," Rajendran said. He said Indian companies have also shown strong interest in exploring investment opportunities in Malaysia given the conducive investment environment, with a good banking system, world-class infrastructure, strong supporting industries and comprehensive ecosystem among the attractions for potential investors. He noted that a company specialising in plastic packaging for the food industry is in an advanced stage of identifying suitable locations to get access to the Malaysian market. "We are excited that most of the companies we met during the mission have indicated their interest to explore investment opportunities in the Malaysian market. "We want them to look at Malaysia as an important destination and their profit centre in Asia. "Being in the heart of Asia, India can use Malaysia as a springboard to expand their market to all of Southeast Asia and to Asia, as far as China and Japan," he added. Malaysia is expected to remain one of the main investors in Sri Lanka going forward, Rajendran said, urging the Malaysian business community to invest in the various sectors promoted by Sri Lanka's Board of Investment such as tourism, education, logistics services, agriculture, manufacturing, business process outsourcing and the software industry. -- BERNAMA