Business

Friday October 23, 2009

Boost for M’sia-India business relations


Guidebook launched to help Indian firms seek opportunities here

KUALA LUMPUR: Malaysia-India business relations have received a boost with the launch of a special guidebook on trade and investment opportunities in Malaysia.

Doing Business in Malaysia: Handbook for Indian Business will be a practical guide for Indian enterprises seeking such opportunities.

It highlights the expanding bilateral trade and investment potential and outlines key aspects of the climate for doing business.

The guidebook was mooted by the Indian High Commission, in partnership with the Confederation of Indian Industries (CII) and supported by the Consortium of Indian Industries in Malaysia (CIIM) and Mida.

From left: Umang Sharma, Tun Abdullah Ahmad Badawi, Ashok K. Kantha and Neerja Bhatia at the guidebook launch

Former prime minister Tun Abdullah Ahmad Badawi launched the guidebook at CIIM’s annual gala dinner event, attended by a host of corporate personalities here last week.

Also present were Indian High Commissioner Ashok Kumar Kantha, who is CIIM patron, CIIM chairman Umang Sharma and CII South-East Asia director Neerja Bhatia.

Abdullah, in his keynote address, said Malaysia and India shared a special relationship and noted that the bilateral economic engagement had further strengthened.

He said two-way trade and investments showed great promise in the coming years particularly with the recently concluded Asean-India Free Trade Agreement to be enforced from January 2010.

Abdullah also referred to the ongoing discussions between Malaysia and India to conclude a Comprehensive Economic Cooperation Agreement.

“The time is very opportune for CIIM to play an active catalytic role in promoting trade and investment activities on both sides,” he said.

Kantha, who will complete his tour of duty in Malaysia soon, commended CIIM for acting as an excellent platform for Indian companies based in Malaysia.

Sharma said CIIM had identified two key areas for investments in Malaysia, namely biotechnology and education.

“India has core competencies in these fields and Malaysia needs these to enhance its competitive edge,” he added.

He said CIIM recently met with the Johor, Sabah and Penang chief ministers and also held extensive discussions with Iskandar Investment Bhd, Johor Corp, Invest Penang and Sabah Economic Planning Unit.

CII is a national-level registered association of Indian-origin companies having investments in Malaysia and operating in Malaysia, while CIIM comprises organisations from different industries represented by their respective CEOs.

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