Malaysia remains competitive investment destination for German companies

By HARIZAH KAMEL / Pic by TMR FILEPIX

THE German Embassy in Malaysia will continue to support the existing German businesses as well as encourage more companies to expand their overseas operations in the country.

Its Ambassador Dr Peter Blomeyer described Malaysia as one of the most developed and matured manufacturing and related services countries in the region.

“Existing German companies operating here find Malaysia as an attractive hub in Asia Pacific.

“In addition, the German business communities also welcome the decision to exempt advertising requirement for positions namely investors, company owners, C-suites, expatriates for regional offices as well as for intra-company transfers,” he said during his recent courtesy visit to the Malaysian Investment Development Authority (MIDA).

Blomeyer also expressed interest in collaborating with local training institutions by offering German Dual Vocational Training (GDVT) programmes in Malaysia.

Germany has been Malaysia’s largest foreign investor from the European Union.

As of June 2020, a total of 461 manufacturing projects with German participation have been implemented with total investments of US$9.36 billion (RM33.31 billion). The projects have created 47,277 jobs.

MIDA chairman Datuk Abdul Majid Ahmad Khan said he and Blomeyer discussed a host of prolific issues to continue goods-to-people mobility, despite the continuing pandemic concerns.

“The closely linked business communities from both sides urgently need to commute with the acceptance of stringent standard operating procedures in place.

“MIDA has been working tirelessly with the embassies and foreign chambers to ensure that investors are provided adequate assistance to the necessary approval and access to make well-informed investment and business decisions across various markets,” he said in a statement today.

Abdul Majid briefed on MIDA’s plans to organise a Trade and Investment Mission and working visit to Europe including Germany once the border controls are streamlined and opened for business travellers.

He expressed the government’s commitment to facilitate smooth business operations, including German investment in Malaysia.

“Strong commitment from both institutions is essential in attracting quality investments for high value-add, capital-intensive and knowledge-intensive projects,” he added.

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