MIDA, IDB Hold FDI Promotion Event For OIC Members

KUALA LUMPUR, Nov 22 (Bernama) -- The Malaysian Investment Development Authority (MIDA), in cooperation with the Islamic Development Bank (IDB), are holding a Capacity Building Programme for Investment Promotion Officials to share the country's experience in attracting foreign direct investments (FDI) with Organisation of Islamic Conference (OIC) member countries. MIDA chief executive officer Noharuddin Nordin said the programme provides a platform for OIC members to share and gain a comprehensive understanding of the strategies and policies to attract FDI and the roles of the host government on successful implementation of the necessary measures. "We hope this collaboration will continue to strengthen the economic ties among OIC members," he told reporters after the official launch here on Monday. He said in the long term, development of OIC countries would give a positive impact to the country's economy in terms of export markets. "When they are more developed, their purchasing power will increase thus expanding the opportunity for Malaysian companies to export their products to the countries," he said. He said prospective countries include Indonesia, Qatar, Oman, the United Arab Emirates and several African countries. Themed "FDI Promotion and Economic Development Strategies", the five-day event beginning on Sunday was attended by 32 participants from 28 countries. -- BERNAMA Malaysia