Govt aspires to lure Indian investors for strengthening economy

05 May '08

2 min read

Malaysia is looking forward to draw more Foreign Direct Investment (FDI), from India in order to achieve its goal of becoming a developed nation by 2020.

In a recently held meeting Datuk Chua Jui Meng, Chairman, National Small and Medium Enterprise (SMEs) Development Council, said that, Malaysia needs to promote itself on a larger scale to attract foreign companies to establish their units here.

Malaysia India Economic Conference 2008, themed 'Strengthening Strategy Partnership in High-Growth Era', scheduled on June 25, will serve as an ideal platform for entrepreneurs of both nations to build business networks for future prospects.

Datuk Chua Jui Meng showed keen interest to attract Indian businesses in Malaysia as the former has emerged as one of the key markets of Asia. Presently, more than 100 Indian companies are operating in Malaysia and last fiscal, investment made by Indians crossed more than US $1 billion. In the present financial year, the number of ventures is expected to grow further with efforts made by local Government.

According to experts, India has substantial and varied industrial base including textile and petroleum, that could provide Malaysian firms endless opportunities for growing their businesses.

On the other hand, India is also easing its foreign investment policies in most of the sectors to attract overseas enterprises, this has even prompted Malaysian Government to make more beneficial deals with the nation.

The organizers of the summit that will be held at the Sunway Pyramid Convention Centre, are anticipating that around 1,000 business leaders and Government officials from both the countries will participate here, and help the SMEs to expand their profits as these enterprisers play a vital role in earning foreign revenues.

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