Malaysia Shifts Incoming Investment Focus, Says Minister

KUALA LUMPUR, March 13 (Bernama) -- Malaysia has shifted its investment focus to more high technology and capital intensive industry-related deals, said Deputy Minister of International Trade and Industry, Mukhriz Dr Mahathir. He said Malaysia was now especially targeting those in the green and emerging technologies. "We are also focusing on attracting industries that undertake research and development. We no longer want to attract labour intensive investments. "Those kind of investment would find other countries more suitable, as Malaysia is now focused on technology driven Foreign Direct Investments (FDI). "For the past two years, we have been experiencing a steady growth in attracting these kind of investments," Mukhriz told reporters after launching the Indian Chemical Exhibition 2012, here Tuesday. He said as part of efforts to make Malaysia a preferred investment destination, the government has liberalised many sectors of the economy, to allow greater foreign participation in equity, management and employment. "Non-Malaysians can now fully own businesses in sectors such as telecommunications, courier services, higher education, international schools, hospitals, department stores, and in the provision of professional services in accounting, tax and law. "We have a complete ecosystem to offer to potential investors with the availability of the right infrastructure and right level of support services. They need not worry about legislation and the taxation system here," he added. -- BERNAMA