MIDA, MEDEF sign MoU to promote investments

MIDA, MEDEF sign MoU to promote investments

18 Oct 2021

The Malaysian Investment Development Authority (MIDA) has signed a memorandum of understanding (MoU) with French private business network abroad, MEDEF International, to further encourage, promote and facilitate potential investments and business cooperation.

The signing in Paris was witnessed by Senior Minister and Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali.

Underscoring the significance of the MoU, Mohamed Azmin said France has had a long presence in Malaysia’s manufacturing and services sectors.

“Recognising the synergies between the French innovative capabilities and Malaysia’s value proposition, we are confident that there will be more French investors, investing particularly within high value and high technology fields such as transport equipment (aerospace), as well as machinery and equipment,” he said in a statement on Monday.

Concurrently, the government hopes that these investments will spur more talent development programmes to future-proof Malaysian workforce, building upon the country’s National Investment Aspirations and the 12th Malaysia Plan towards 2025, he added.

Meanwhile, MIDA chief executive officer Arham Abdul Rahman said the partnership would enable more Malaysian businesses and technology providers to better connect with the global supply chain.

“The Malaysian government, through MIDA, will continue to work closely with MEDEF International to further boost and realise French investments in Malaysia,” he added.

Source: Bernama