Malaysia Continues To Be Attractive Investment Destination - MIDA

SHAH ALAM (Selangor, Malaysia), July 13 (Bernama) -- Malaysia continues to be an attractive investment destination for foreign companies in the region despite the current global economic headwinds, said Malaysian Investment Development Authority (MIDA) Chief Executive Officer, Azman Mahmud. He said foreign investors continued to capitalise on Malaysia's unique ecosystems and its regional synergies as approved investments from foreign sources increased by 63.4 per cent to US$13.74 billion (RM59 billion) last year from US$8.41 billion (RM36.1 billion) in 2015. (US$1 = RM4.29) He said this was evident through the investment of RM22.06 million from a Swiss-based company, Endress+Hauser to provide training, strategic consultancy and technological expertise to their clients. "The new facility also cemented our country's position as an attractive market for process automation," he said in his speech at the launch of Endress+Hauser's new customer service and training facility here Thursday. Also present was Endress+Hauser group Chief Executive Officer, Matthias Altendorf. The 3,000-square-metre facility houses a new calibration centre for flow, level, pressure and liquid analysis instruments, besides training rooms and auditorium to provide hands-on customer training. Azman said Switzerland was one of Malaysia's strategic partners in investments and as of December 2016, a total of 156 manufacturing projects with the participation from Switzerland with investments worth RM4.5 billion had been implemented. He also dispelled rumours that foreign investors were leaving the country, and that many companies were restructuring their business models, besides investing in new processes and technology. On another note, Azman said MIDA and the Ministry of International Trade and Industry was collaborating with the relevant agencies and industry players on several measures in realising the Industry 4.0 agenda for the country. "We are in the midst of formulating our National Industry 4.0 Blueprint which is targeted to be ready by year-end, " he said. Commenting on the new facility launch Thursday, Altendorf said the project demonstrated the company's commitment to the local market, and signals Endress+Hauser's move towards digitalisation and Industrial Internet of Things. -- BERNAMA