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Sunday October 10, 2010
Arab billions make Malaysia more attractive
PETALING JAYA: A whopping RM47.7bil investment by a company from Abu Dhabi has boosted Malaysia’s attractiveness as a strategic foreign direct investment (FDI) destination.
Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir said it reflected foreign investors’ confidence and support in Malaysia’s new policies to become an innovation-driven high-income economy.
“In the economic climate of recent years, the competition for international strategic FDI has intensified.
“We are fortunate to have forged a relationship with Mubadala Development Co (of Abu Dhabi) as it gives us an edge in attracting real FDI flow from Abu Dhabi,” he said, referring to Friday’s MoU signing between Mubadala and 1Malaysia Development Bhd for the RM26bil Kuala Lumpur International Financial District (KLIFD) real estate development and an injection of RM21.7bil into the Sarawak Corridor of Renewable Energy.
Federal Territories and Urban Well-being Minister Datuk Raja Nong Chik Raja Zainal said it would also generate the interest of other investors from the Middle East to invest in Malaysia.
“The setting up of KLIFD will provide the impetus to propel Kuala Lumpur into a global financial hub.
“Apart from promoting Islamic finance, we can also attract international banks in Europe and the United States to relocate their headquarters here,” he added.
BIMB Holdings Bhd group managing director Johan Abdullah said KLIFD would go a long way in helping Malaysia’s campaign to lead the Islamic finance industry globally.
“We have always been a serious contender but this could seal our place as the frontrunner,” he said.
Group chief executive of Mah Sing Group, Tan Sri Leong Hoy Kum, said KLIFD would also benefit local developers.
“The visionary billion-ringgit KLIFD project led by 1MDB will spur the Malaysian property development market by allowing local developers to participate in joint ventures with international partners delivering breakthrough state-of-the-art designs and buildings.
Arab billions make Malaysia more attractive
PETALING JAYA: A whopping RM47.7bil investment by a company from Abu Dhabi has boosted Malaysia’s attractiveness as a strategic foreign direct investment (FDI) destination.
Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir said it reflected foreign investors’ confidence and support in Malaysia’s new policies to become an innovation-driven high-income economy.
“In the economic climate of recent years, the competition for international strategic FDI has intensified.
“We are fortunate to have forged a relationship with Mubadala Development Co (of Abu Dhabi) as it gives us an edge in attracting real FDI flow from Abu Dhabi,” he said, referring to Friday’s MoU signing between Mubadala and 1Malaysia Development Bhd for the RM26bil Kuala Lumpur International Financial District (KLIFD) real estate development and an injection of RM21.7bil into the Sarawak Corridor of Renewable Energy.
Federal Territories and Urban Well-being Minister Datuk Raja Nong Chik Raja Zainal said it would also generate the interest of other investors from the Middle East to invest in Malaysia.
“The setting up of KLIFD will provide the impetus to propel Kuala Lumpur into a global financial hub.
“Apart from promoting Islamic finance, we can also attract international banks in Europe and the United States to relocate their headquarters here,” he added.
BIMB Holdings Bhd group managing director Johan Abdullah said KLIFD would go a long way in helping Malaysia’s campaign to lead the Islamic finance industry globally.
“We have always been a serious contender but this could seal our place as the frontrunner,” he said.
Group chief executive of Mah Sing Group, Tan Sri Leong Hoy Kum, said KLIFD would also benefit local developers.
“The visionary billion-ringgit KLIFD project led by 1MDB will spur the Malaysian property development market by allowing local developers to participate in joint ventures with international partners delivering breakthrough state-of-the-art designs and buildings.
