M'sian Firms Investing Abroad Have Something To Offer, Says Minister

KUALA LUMPUR, May 29 (Bernama) -- Malaysian companies that invest in other countries are not losing confidence in Malaysia but have something extra to offer, says Malaysian Minister of International Trade and Industry Mustapa Mohamed. "Malaysian companies have not lost confidence in our country, many big Malaysian companies have already put a lot of money here but our country's limited market means it is important for us to export our talents and services abroad," he said. Mustapa was speaking at the Malaysia: Asean's Multinational Marketplace session in conjunction with Invest Malaysia 2012 here Tuesday. Some 600 Malaysian companies have spread their wings to Asean countries. Mustapa said companies venturing abroad bring not only their talents but also the processes which can promote the Malaysia brand name, indirectly helping the government's promotion efforts. "At the end of the process, these companies would have well-established products, like when SP Setia goes to China and Vietnam, they bring along Malaysian furniture, when Axiata and Maybank go to some part of Asean they bring hardware and services to those countries. "Hence, it is important for us to do both -- to attract foreign direct investment and for more Malaysian companies to expand their footprints to other regions. "Although in two to three years there might be some issues in the balance of trade, for the medium and longer term these will bring many benefits to our country," he said. On Malaysia's growth within Asean, Mustapa said with the good vision and various plans by the government, the country's strategic location as well as political and economic stability, Malaysia is in a strong position to attract more Asean and other investors. -- BERNAMA