DUBAI FIRM SHOWS INTEREST TO INVEST US$500 MLN IN MALACCA

MELAKA (Malaysia), Dec 21 (Bernama) -- A company from Dubai, Golden Crescent
Group, has expressed interest to invest US$500 million (about RM1.720 billion)
in Melaka (Malacca), Chief Minister Mohd Ali Rustam said Monday.

"They showed interest to invest in the state after seeing the development
in Melaka," he said.

He said Golden Crescent was interested to invest in fields like hotel,
manufacturing, recycling and building a specialist hospital.

Representatives from the company -- Dr Abdelrahman Mustafa Abdullah Al
Jarrar, Mahomed Akbar Khan dan Dr Khalil A.H. Al Khalil -- met Ali earlier
Monday.

Ali said he had also suggested the company to invest in
animation film in the state. A memorandum of understanding would soon by signed
between Chief Minister Incorporated and the company, he added.

He said that among other factors that drew the interest of foreign investors
to Melaka were the existence of various infrastructures, abundant skilled
workforce, political stability and peace.

"They have visited tourist spots, industrial areas, factories producing
high-tech products, higher learning institutions, ICT facilities, the Melaka
Institute of Biotechnology and many other places. That's why they are interested
to invest here," Ali said.

He said Melaka's foreign investment target for next year was RM3 billion
(US$873.3 million) while this year's achievement would be known by the end of
December.

"Melaka has received a lot of investment in the tourism industry so I think
the Malaysian Industrial Development Authority can also consider this as
foreign direct investment besides the manufacturing sector," he said.

-- BERNAMA