Malaysia targets to attract more investments from Filipino companies, Malaysia Trade Office (MATRADE) Trade Commissioner Nyaee Ayup said.
Ayup said trade between the two countries will increase with more Filipino companies putting up businesses in Malaysia.
“We want to promote the investment opportunities in Malaysia and at the same time, we are helping Malaysian companies to explore business opportunities in the Philippines. We want to increase intra-ASEAN trade which will be boosted by the investments from the Philippines, she added.
Philippines is seen growing by 7.0 to 8.0 percent by year-end. Malaysia’s GDP growth rate over the last 8 years has been in the 6.5 percent level. Both economies are doing well, and this has trickle down effects on foreign direct investments, Ayup noted.
Particularly, Malaysian government wants to boost investments in two key areas in both countries: Selangor in Malaysia and Mindanao in the Philippines.
Selangor State Executive Councilor Dato Teng Chang Khim visited Manila this week to lure investments in areas of transport equipment industry, life sciences, electrical and electronics industry, food and beverage industry, and the machinery and equipment industry.
Selangor is poised to offer the most competitive terms and opportunities for those keen to set up business in Malaysia, Khim said. (PNA)