MIDA inks MOU with DHL Express Malaysia to attract high-quality foreign direct investment

MIDA inks MOU with DHL Express Malaysia to attract high-quality foreign direct investment

30 Mar 2023

The Malaysian Investment Development Authority (Mida) has entered into a memorandum of understanding (MOU) with DHL Express Malaysia to strengthen the country’s position as an ideal destination for high-quality foreign direct investment (FDI).

Mida deputy chief executive officer of investment promotion and facilitation Sivasuriyamoorthy Sundara Raja said the partnership is aimed at further consolidating Malaysia’s position as an alternative supply chain hub in the region.

“This collaboration is important to Mida. When we do our investment promotion activity around the world, we need to position Malaysia as a global production house, as well as a regional and global distribution hub,” he said.

“The collaboration with DHL Express, which is a world-class service provider, adds value to our proposition when we negotiate for more investments into the country,” he told the media after the signing ceremony here on Thursday (March 30).

Earlier, the MOU signing ceremony was formalised between Sivasuriyamoorthy and DHL Express Malaysia and Brunei managing director Julian Neo, witnessed by Mida chairman Tan Sri Sulaiman Mahbob.

Sivasuriyamoorthy noted that DHL Express provides comprehensive services, including air freight and sea freight, and a data centre as well as upcoming state-of-the-art facilities that would help Mida in attracting more FDI into Malaysia.

“As an investment promotion agency, Mida will also be able to work with DHL Express’ clients globally, and convince them to come and set up their operations in Malaysia,” he said.

In addition, he highlighted that the collaboration will also pave the way for more investment opportunities, in line with 16 free trade agreements implemented, including the recent Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

“The RCEP and CPTPP opened up new markets altogether in countries such as Mexico, Canada, Peru, and Chile. Having DHL Express to export to these markets is a direct advantage of this collaboration,” he added.

Meanwhile, Julian noted that the MOU underscores the shared commitment to strengthening Malaysia’s position as a preferred destination for FDI by deepening the contribution of the logistics industry.

“As the world’s leading international express service provider, we enable greater ease of doing business, as well as provide companies with greater access to the lucrative Southeast Asian and Asia-Pacific markets.

“We continue to leverage our unique position to assist foreign enterprises and multinationals to tap into opportunities here and around the region,” he said.

Source: Bernama