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Strong Manufacturing Sector Draws Investors: MIDA

[ 01-02-2016 ]
Strong Manufacturing Sector Draws Investors: MIDA
KOTA BAHARU, Jan 31 (Bernama) -- The strengthening of the manufacturing sector over the last 40 years enables Malaysia to better face the economic challenges this year, says Malaysian Investment Development Authority (MIDA) Chief Executive Officer Datuk Azman Mahmud.

Foreign investors are still keen to operate in Malaysia due to the country's investor-friendly policies, he said.

"We acknowlegde we will face a challenge with investments this year amid the uncertain global crude oil prices, but the government has measures in place to ease the pressure.

"We have an advantage with a manufacturing sector that has been operating for some time, with a well-developed infrastructure, training centres, telecommunications system and banking," he told reporters after opening a seminar on the food industry supply chain here.

Some 240 operators of small and medium entreprises from Kelantan, Terengganu and Pahang, as well as the Malaysian Development Finance Bhd's Marketing and Product Development Head in the Development Finance Division, Fadzlan Abu Bakar, are attending the one-day event.

Azman said some foreign companies are interested in investing in Malaysia with the lower costs of operation amid the fall in the ringgit's value, with several keen to make the country their regional hub.

Meanwhile, Fadzlan said MIDF, which has received a RM750 million allocation under the 11th Malaysia Plan, will help manufacturing companies facing high labour costs with modern equipment and machinery aid.

-- BERNAMA