MIDA UPBEAT AUSSIE FIRMS WILL INCREASE INVESTMENTS IN MALAYSIA

By Neville D'Cruz

MELBOURNE, July 6 (Bernama) -- Australian business leaders have been reminded
Malaysia still provided attractive business opportunities despite the global
economic downturn.

Speaking at a Australia-Malaysia business networking function over the
weekend, Jaswant Singh, the director of Malaysian Industrial Development
Authority in Australia (MIDA Australia), said Malaysia's economic development
was impressive and would continue to prosper.

"Our long-standing relationship with Australia will make Malaysia a highly
valued partner, especially in areas such as trade, investment, tourism and
education," he said.

Jaswant Singh attended the networking function organised by the Australian-
Malaysian Business Council here to promote the visit by International Trade and
Industry Minister Mustapa Mohamed who will lead a trade and investment
mission to Melbourne for a seminar on Aug 3.

Mission members will comprise senior officials of MITI, MIDA, Matrade and
high-level private sector delegation.

MIDA Australia has identified potential opportunities for Australian
suppliers of goods and services in a number of sectors.

They include agri-business supply chain including halal food and food
processing, farm machinery, information technology and medical equipment and
services," Jaswant Singh said.

Other sectors include biotechnology, biomedical, bioinformatics, medical
devices and diagnostics and environmental biotech and education services.

Jaswant Singh said Malaysia is an attractive centre for Australian smelting
and refining processes of the mining sector because of the competitive cost of
power including hydropower with a low level of carbon footprint.

"Also, Malaysia has excellent infrastructure, location and human skills," he
said.

MIDA Australia also expects Australian foreign direct investments (FDIs) to
increase following the deregulation of the Foreign Investment Committee (FIC)
guidelines especially in the services sector.

"The services sector is expected to open up opportunities for Malaysian
companies to collaborate with Australian companies that would bring in their
technology and management expertise," Jaswant Singh said.

"We hope Australians will see Malaysia as a gateway or springboard for
supply-chain management through operational headquarters, regional distribution
and international procurement centres and regional offices," he said.

While in Melbourne, Mustapa, a former economics graduate from the University
of Melbourne, will meet Malaysian professionals and entrepreneurs in Australia
to coax them to bring their businesses, knowledge and expertise back to their
homeland.
-- BERNAMA