M'SIA FARED WELL IN WOOING FDIs LAST YEAR DESPITE INTENSE RACE, SAYS MIDA D-G

KUALA LUMPUR, Jan 7 (Bernama) -- Despite the global economic slowdown and
intense competition to woo foreign direct investments (FDIs), Malaysia fared
well in 2009, says Malaysian Industrial Development Authority (MIDA) director-
general Jalilah Baba.

"We are ahead of other regional markets in attracting FDIs," she said,
without revealing the FDI figures as an official announcement is due soon.

In 2008, Malaysia's FDI totalled RM62.8 billion (US$1=RM3.36). Under the
Third Industrial Masterplan (2006-2020), the FDI target for the first five years
is RM20 billion per annum and RM27.5 billion a year for the subsequent years.

"For 2010, there is positive interest from investors and potential
investors.

About 80 per cent of them whom we contacted are seeing improved
situation and has the capacity to expand," she told a press conference after the
official handing over of MIDA's own building here Thursday.

Jalilah said Malaysia was well positioned to woo green technology
investments
and MIDA has been talking to multinational companies in the area.

"We are tracking about 20 solar companies in the world," she said.

Jalilah said due to the higher focus on the services sector, MIDA would
expand its divisions for the sector from two to four by August this year.

"Two divisions are handling logistics and services now and it will be
expanded to four to oversee more services sectors," she said.

Jalilah said MIDA was also considering asking for more government grants
to enable the agency to embark on more marketing and promotional activities.

"Last year, the grant was RM158 million of which 15 per cent were spent for
promotional activities," she said, adding that it proposed to ask for about RM1
billion this year which would be utilised not only for its operations but also
for research and development programmes and skilled workers' training.

On MIDA's RM148.57 million spanking new head office building, Jalilah said
it was purchased from RM160 million government grant under the Ninth Malaysia
Plan. The building will be fully ready for MIDA to move in by July this year.

-- BERNAMA