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MITI expects to rake RM2.6b investment from French

by SHAFIQQUL ALIFF / Pic by MUHD AMIN NAHARUL

THE Ministry of International Trade and Industry (MITI) expects to generate a total of RM2.6 billion potential investment and RM300 million worth of potential export through its trade and investment mission with France.

MITI said this is a testament to Malaysia’s continuous effort in attracting quality investment and in enhancing participation of local companies in the high value global supply chain.

“The strong interest shown by French companies garnered during the mission serves as a major catalyst in expanding the bilateral trade and investment relations, most notably in areas that support the sustainable and green agenda advocated by both nations,” MITI said in a recent statement.

MITI Minister Datuk Seri Mohamed Azmin Ali (picture) recently held a bilateral meeting with France’s Minister Delegate for Foreign Trade and Economic Attractiveness Franck Riester in Paris.

During the meeting, Azmin also highlighted opportunities in Malaysia’s growing green technology sector and the local’s industry players’ capabilities in the high value sectors.

Azmin also emphasised the nation’s firm commitment to support and ecosystem built on the sustainable agenda.

“He also shared that Malaysia aims to achieve carbon net-zero greenhouse gas emissions at the earliest by 2050, which was warmly welcomed by the French Minister.

Both ministers had an engaging discussion on topics of mutual interest ranging from economic recovery strategies in the endemic phase, advancing reforms at the World Trade Organisation, leveraging Malaysia’s position in the mega Regional Comprehensive Economic Partnership Agreement to investment and commercial opportunities in renewable energy.

The Malaysian delegation also commended France’s renewed interest in the South-East Asian region, including Malaysia, and saw this new development as a pathway to further strengthen the ties between both nations.

“France’s growing interest in this region was greatly welcomed as France is set to assume the presidency of the Council of the European Union during the first half of 2022.

On other development, Azmin also witnessed the signing of a memorandum of understanding between the Malaysian Investment Development Authority (Mida) and Mouvement des Enterprises de France (MEDEF) International after the roundtable meeting with participation of 17 prominent companies in the fields of aerospace, defence, transportation, chemical industry, machinery and equipment, IT, inspection and certification, and banking sectors.

“The strategic partnership between Mida and MEDEF International will complement Malaysia’s NIA through expanded cooperation aiming to facilitate the nation’s industrial ecosystem with catalytic infrastructure and new technologies,” the statements said.

The Malaysian delegation also had a series of one-to-one sessions with French companies notably Airbus SE, Compagnie de Saint Gobain SA, Adisseo Group, Prolaser and Innovafeed, which expressed a strong interest to strengthen the footprints of Malaysian products in Europe through France.

It stated that the French enterprises showed great interest to continue making Malaysia their business partner in the aerospace, biotechnology, advanced chemical, medical devices, halal products and the construction sectors as Malaysia’s strong focus on the green agenda in charting the country’s economic development also provided the French businesses assurance that Malaysia is moving in tandem with world megatrends.

Dayang Norazhar

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