Mida identifies 12 Egyptian companies interested in investing in Malaysia - Tengku Zafrul


- Bernama

CAIRO: The Ministry of Investment, Trade and Industry (MITI) through its agency the Malaysian Investment Development Authority (MIDA) has identified 12 leading Egyptian manufacturing companies interested in exploring investment opportunities in Malaysia.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the companies were interested in exploring investments in the pharmaceutical, medical device, aerospace and petrochemical sectors.

He said the leading Egyptian manufacturing companies expressed their interest when participating in a roundtable meeting held here in conjunction with Prime Minister Datuk Seri Anwar Ibrahim's official visit to Egypt which ended today.

"This roundtable meeting was attended by around 60 industry and business leaders from 47 leading companies and business associations from Egypt," he said at a press conference on the final day of the Prime Minister's visit today.

Tengku Zafrul said during the roundtable meeting that a total of 28 high-value industrial companies including in the automotive, chemical, oleochemical, food, palm oil-based products, personal care, renewable energy, logistics and finance and construction sectors were invited.

He said all the companies concerned have now imported goods and services from Malaysia worth RM505.2 million.

"The roundtable meeting had generated potential exports of RM4.8 billion. This shows great trade opportunities, particularly in the high-value innovation sectors outlined under Malaysia's New Industrial Master Plan (NIMP) 2030," he said.

Tengku Zafrul added that the companies present at the roundtable conference also expressed interest in acquiring various products and services from Malaysian suppliers including automotive spare parts and components, palm oil, cooking oil and fats, oleochemicals, detergents, special chemicals, solar panels and inverters, building materials, and food and beverage products. - Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Business News

Ringgit opens flat following US inflation report
Vstecs shares jump 10% on profit surge
FBM KLCI rises as US inflation data meets expectations
Trading ideas: Scientex, Bumi Armada, Pasdec, Aizo, Dayang, MClean, Uzma, AGX, PUB, Elk-Desa, MMHE, JPG
Economy to grow 5.3% in 3Q24 on manufacturing
Citigroup says it’s ‘game on’ for deals in America
Uzma wins PETRONAS contract
Heineken to tap into stout consumer demand
Increase in sales volume set to benefit Hartalega
Magnum shareholders may receive U Mobile shares

Others Also Read