Malaysian authorities meet with Spanish businessmen to discuss business opportunities in the Asian country

in CEOE

At an event headed by the Vice President of the Business Confederation and President of CEIM, Juan Pablo Lázaro.

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El vice president of CEOE and president of CEIM, Juan Pablo Lázaro, has held a meeting at the headquarters of the Business Confederation with Malaysian authorities to analyze the business opportunities in the Asian country. The business meeting was attended by the Deputy Director General for Europe, Asia and Oceania of the State Secretariat for Trade, María Aparici, and on the Malay side, the Ambassador of this country in Spain, Zainal Abidin Bakar; and the Director of Malaysia Investment Development Authority (MIDA), Noorhazlina Binto Mohamad Nor.

 

Juan Pablo Lazaro stressed that Malaysia represents the third destination of the Spanish investments in Asia with almost 1.000 million euros in sectors such as steel, construction materials, electricity or textiles, among others. He also explained that its strategic location in the Southeast Asia allows the Spanish companies access to the rest of the countries on the continent, which represents a market of 600 million consumers. In fact, there are already numerous companies operating in Malaysia in infrastructure, energy or engineering projects.

 

El vice president of CEOE He pointed out that thanks to the eleventh Economic Plan 2016-2020, launched by the Malaysian government, there are significant business opportunities. “The Spanish companies have contributed greatly to developing the country's industry and infrastructure, in order to strengthen its position in ASEAN and turn it into the Southeast Asia's main logistics and industrial hub"He reported. Lazarus expressed on behalf of CEOE its full support for the free trade negotiations between the UE y Malaysia, to reach an ambitious and satisfactory agreement for both parties, similar to those we already have with Vietnam and Singapore.

 

In turn, the Ambassador of Malaysia to Spain, Zainal Abidin Bakar, highlighted the fifty years of bilateral relations between Spain and Malaysia and the large presence of Spanish companies in his country, especially in manufacturing and the chemical sector. However, he advocated greater creation of joint ventures and stressed that his government will continue to promote foreign investment in his country.

 

Regarding the economic situation of the Asian country, he assured that the GDP of Malaysia The country is growing at a rate of 6,5% per year, adding that it is one of the fastest growing regions. For this year, he indicated that growth is expected to be between 4,3% and 4,8%. He stressed that it is a competitive country and one that investors can trust, thanks to the stability and diversity of its economy. Therefore, he praised the launch of an economic plan by the Government in 2009 to transform the economic situation.

 

 

Malaysia is a competitive and trustworthy country for investors, thanks to the stability and diversity of its economy.

 

 

He also recalled that Malaysia is a member of the free trade zone ASEAN (Association of Southeast Asian Nations).

 

Investment, a pillar of bilateral relations

 

La Deputy Director General for Europe and Asia of the State Secretariat for Trade, María Aparici, referred to the signing of a memorandum of understanding during the trip to Malaysia of a business delegation with the Secretary of State for Commerce, Jaime García-Legaz, in 2015. He said that the presence of our companies there has increased over the last three years, especially in sectors such as pharmacy, agri-food and electronic equipment, among others.

 

However, he said that Spanish companies need help to strengthen their presence in the country, through COFIDES, FIEM and CESCE; as he stressed that investments are the pillar of our bilateral relations.

 

On the other hand, the director of Malaysia Investment Development Authority (MIDA), Noorhazlina Binto Mohamad Nor, He noted that the private sector leads Malaysia's economy and explained the great business opportunities that the country offers in sectors such as education, environment, health, logistics, tourism, oil and gas, machinery, biotechnology, electronics, ICTs, aerospace and renewable energy, among others.

 

In addition, to explain the mega infrastructure projects that the government plans to carry out malaysian government, highlighted the tax incentives offered by the Malaysian Government to foreign investors.