ID :
84227
Mon, 10/12/2009 - 10:20
Auther :
Shortlink :
https://oananews.org//node/84227
The shortlink copeid
GOVT TO FACILITATE MALAYSIAN COMPANIES OPERATING IN GULF STATES'
From Jeffri Mohd Rafiee
RIYADH, Oct 12 (Bernama) -- Malaysia's International Trade and Industry Minister Mustapa Mohamed said the government will try to facilitate Malaysian companies operating in Gulf states, and at the same time draw more investors from the Gulf to Malaysia.
"We want the flow to go both ways," he told Bernama during the final leg of
his week-long trade and investment mission to Qatar, Egypt and Saudi Arabia that
ends Sunday.
He said that presently in Saudi Arabia alone, Malaysian companies were
involved in projects worth about RM12 billion (US$3.5 billion) including in
unversity construction and power generation.
"This is a big figure. This shows that while Malaysian companies already
have a name in Saudi Arabia, there are still new opportunities including in the
field of monorail in specific areas of Saudi Arabia," he said.
He said the involvement of Malaysian professionals such as engineers,
banking consultants and nurses was also quite good, numbering not less than
4,000.
This was a new phenomenon, he said and added that Malaysian professionals
were sought after not only by private companies but also the Saudi government.
"We are grateful that Malaysians enjoy such high status, regarded highly by
the government and business members in Saudi Arabia for our ability to be an
example of a progressive Islamic nation, our companies' ability to carry out
projects in Arab Saudi and globally. Malaysia is also popular as an investment
destination as well as an increasingly popular tourism destination for tourists
from Saudi Arabia," he said.
Equally important, he said that besides Malaysia exporting its services, the
country also wanted to see more Saudi businessmen to invest in Malaysia.
"Through the meeting, we also hope to raise the interest of Saudi Arabia
investors in Malaysia," he said.
He also hoped that trade relations between Malaysia and Saudi Arabia will
continue to rise.
Saudi Arabia was Malaysia's second largest trading partner in West Asia in
2008 with total trade amounting to RM11.1 billion, or 20.3 percent, of
Malaysia's trade with the region and 0.9 percent of Malaysia's global trade.
Exports to Saudi Arabia amounted to RM3.5 billion and imports RM7.6 billion
in 2008 while in the January-July period this year, trade with Saudi Arabia
amounted to RM4.1 billion.
As at December 2008, Saudi companies implemented three manufacturing
projects in Malaysia involving a capital investment of RM80.6 million in
electrical and electronics, and textile products. (US$1=RM3.40)
In the non-manufacturing sector, significant investments were in
information communications and technology-related, property and financial
services.
Among well known Saudi companies with investments in Malaysian interest are
Al Rajhi Bank and Saudi Telekom.
Mustapa who met assistant secretary-general for Economic Affairs of the Gulf
Cooperation Council (GCC) Mohd Obeid Al Mazroui Saturday, said the GCC
secretariat would bring together businessmen from their countries and their
renowned Malaysian counterparts to promote and also highlight business and trade
opportunities both in the Gulf and Malaysia.
GCC is a cooperative framework joining United Arab Emirates, Bahrain, Saudi
Arabia, Oman, Qatar and Kuwait to effect coordination, integration and
inter-connection among member States in all fields.
In the Saudi capital Saturday, Mustapa also met Saudi Finance Minister Dr
Ibrahim Abdulaziz Al Assaf and president and chairman of Saudi Commission for
Tourism and Antiquities Prince Sultan Bin Salman.
He is scheduled to meet former member of the Al Shoura Consultatuve Council
and chairman of Zamil Industrial Investment Dr Abdulrahman Al Zamil and acting
Minister of Commerce and Industry Dr Abdullah Bin Abdulaziz Al Rabieah before
flying home via Dubai Sunday.
Musapa kicked off the trade and investment mission -- his fourth in five
months -- on Oct 4 in Doha, before proceeding to Cairo on Oct 6. On the way to
Riyadh, he made a quick stop in Makkah to perform umrah on Oct 8.
-- BERNAMA
RIYADH, Oct 12 (Bernama) -- Malaysia's International Trade and Industry Minister Mustapa Mohamed said the government will try to facilitate Malaysian companies operating in Gulf states, and at the same time draw more investors from the Gulf to Malaysia.
"We want the flow to go both ways," he told Bernama during the final leg of
his week-long trade and investment mission to Qatar, Egypt and Saudi Arabia that
ends Sunday.
He said that presently in Saudi Arabia alone, Malaysian companies were
involved in projects worth about RM12 billion (US$3.5 billion) including in
unversity construction and power generation.
"This is a big figure. This shows that while Malaysian companies already
have a name in Saudi Arabia, there are still new opportunities including in the
field of monorail in specific areas of Saudi Arabia," he said.
He said the involvement of Malaysian professionals such as engineers,
banking consultants and nurses was also quite good, numbering not less than
4,000.
This was a new phenomenon, he said and added that Malaysian professionals
were sought after not only by private companies but also the Saudi government.
"We are grateful that Malaysians enjoy such high status, regarded highly by
the government and business members in Saudi Arabia for our ability to be an
example of a progressive Islamic nation, our companies' ability to carry out
projects in Arab Saudi and globally. Malaysia is also popular as an investment
destination as well as an increasingly popular tourism destination for tourists
from Saudi Arabia," he said.
Equally important, he said that besides Malaysia exporting its services, the
country also wanted to see more Saudi businessmen to invest in Malaysia.
"Through the meeting, we also hope to raise the interest of Saudi Arabia
investors in Malaysia," he said.
He also hoped that trade relations between Malaysia and Saudi Arabia will
continue to rise.
Saudi Arabia was Malaysia's second largest trading partner in West Asia in
2008 with total trade amounting to RM11.1 billion, or 20.3 percent, of
Malaysia's trade with the region and 0.9 percent of Malaysia's global trade.
Exports to Saudi Arabia amounted to RM3.5 billion and imports RM7.6 billion
in 2008 while in the January-July period this year, trade with Saudi Arabia
amounted to RM4.1 billion.
As at December 2008, Saudi companies implemented three manufacturing
projects in Malaysia involving a capital investment of RM80.6 million in
electrical and electronics, and textile products. (US$1=RM3.40)
In the non-manufacturing sector, significant investments were in
information communications and technology-related, property and financial
services.
Among well known Saudi companies with investments in Malaysian interest are
Al Rajhi Bank and Saudi Telekom.
Mustapa who met assistant secretary-general for Economic Affairs of the Gulf
Cooperation Council (GCC) Mohd Obeid Al Mazroui Saturday, said the GCC
secretariat would bring together businessmen from their countries and their
renowned Malaysian counterparts to promote and also highlight business and trade
opportunities both in the Gulf and Malaysia.
GCC is a cooperative framework joining United Arab Emirates, Bahrain, Saudi
Arabia, Oman, Qatar and Kuwait to effect coordination, integration and
inter-connection among member States in all fields.
In the Saudi capital Saturday, Mustapa also met Saudi Finance Minister Dr
Ibrahim Abdulaziz Al Assaf and president and chairman of Saudi Commission for
Tourism and Antiquities Prince Sultan Bin Salman.
He is scheduled to meet former member of the Al Shoura Consultatuve Council
and chairman of Zamil Industrial Investment Dr Abdulrahman Al Zamil and acting
Minister of Commerce and Industry Dr Abdullah Bin Abdulaziz Al Rabieah before
flying home via Dubai Sunday.
Musapa kicked off the trade and investment mission -- his fourth in five
months -- on Oct 4 in Doha, before proceeding to Cairo on Oct 6. On the way to
Riyadh, he made a quick stop in Makkah to perform umrah on Oct 8.
-- BERNAMA
