Malaysia Remains Competitive Investment Location For German Companies -- Ambassador

KUALA LUMPUR, Jan 8 (Bernama) -- Newly-appointed German ambassador to Malaysia, Dr Peter Blomeyer, has reiterated his support for the business continuity of existing German companies in the country and will encourage more German companies to expand their overseas operations here. Blomeyer, who paid a courtesy visit to the Malaysian Investment Development Authority (MIDA), said Malaysia is one of the most developed and matured manufacturing and related services countries in the region. This ecosystem provides a competitive advantage for the German companies to locate their projects in Malaysia, he was quoted as saying in a statement issued by MIDA Friday. According to Blomeyer, existing German companies operating here view Malaysia as an attractive hub in Asia Pacific. In addition, he said, the German business communities welcome the decision to exempt advertising requirement for positions, namely investors, company owners, C-suites, expatriates for regional offices as well as for intra-company transfers. Blomeyer also expressed his wish to explore a collaboration with local training institutions in boosting their training capabilities and facilities in human capital development by offering German Dual Vocational Training (GDVT) programmes in Malaysia. Germany has been Malaysia’s largest foreign investor from the European Union. As of June 2020, a total of 461 manufacturing projects with German participation had been implemented with total investments of US$9.36 billion (RM33.31 billion). The projects have created 47,277 jobs. MIDA chairman Abdul Majid Ahmad Khan said the German ambassador and he discussed a host of issues that need the attention for both countries to continue the goods-to-people mobility despite the continuing pandemic concerns. "The closely-linked business communities from both sides urgently need to commute with the acceptance of stringent standard operating procedures in place. “MIDA has been working tirelessly with the embassies and foreign chambers to ensure that investors are provided adequate assistance to the necessary approval and access to make well-informed investment and business decisions across various markets,” he said. Abdul Majid also briefed Blomeyer on MIDA’s plans to organise a trade and investment mission and working visit to Europe, including Germany, after the border controls are streamlined and opened for business travellers. He also expressed the government’s commitment to facilitate smooth business operations, including German investment in Malaysia. He said strong commitment from both institutions is essential in attracting quality investments for high value-add, capital-intensive and knowledge-intensive projects. -- BERNAMA