Malaysia Confident To Woo More German Investors

BUKIT MERTAJAM (Penang, Malaysia), July 11 (Bernama) -- Malaysia is confident of wooing more German investors as several multinationals from that european nation have showed interest to invest in the country, Deputy Minister of International Trade and Industry Mukhriz Dr Mahathir said on Wednesday. He said potential German investors have held negotiations with the Malaysia Investment Development Authority (MIDA) and Malaysia External Trade Development Corporation (Matrade). "Some of these companies could see the investment potential in Malaysia. This is a good sign for the future of the country's economy," he told reporters after opening Blaupunkt Malaysia Sdn Bhd's regional distribution centre at the Bukit Tengah Industrial Park. Mukhriz said the 80 German companies, which have invested in Malaysia thus far, are engaged in diverse industries including producing machinery parts, electrical and electronics components and automotive spare parts. He said the electrical and electronics sector has been identified as a major sector under the Economic Transformation Plan. A Strategic Study conducted showed the electrical and electronics sector can contribute up to RM90 billion to the national gross domestic product and offer jobs to 157,000 people, he added. Blaupunkt is a popular brand in the car entertainment industry which has been operating in Germany since 1923. Established in Malaysia in December 2008, Blaupunkt Malaysia is the main supplier of car entertainment gadgets such as microphones and navigating apparatus. Blaupunkt's main clients are Proton, Audi, Ford, Bentley, Tata and major automotive companies in 15 countries. The newly established distribution centre on a 180,000 sq feet site has 350 workers, including 50 local engineers in the research and development division. It is the major research and development and Blaupunkt production centre in the world. -- BERNAMA