KUALA LUMPUR: The Malaysian Investment Development Authority (MIDA) and MEDEF International have entered into a memorandum of understanding to fomalise their partnership to further promote and facilitate potential investments and business cooperation.
MEDEF International is a French private business network, which aims to promote French companies’ know-how abroad through collective actions.
In a joint statement, the parties highlighted that there has been an increasing number of French companies investing in Malaysia.
It said that as at December 2020, a total of 126 manufacturing projects with French participation have been implemented in Malaysia, with total investments worth RM4.36bil (US$1.31 bil), creating more than 10,900 jobs.
“France has had a long presence in Malaysia’s manufacturing and services sectors.
“Recognising the synergies between the French innovative capabilities and Malaysia’s value proposition, we are confident that there will be more French investors, investing particularly within high value and high technology fields such as transport equipment (aerospace), ICT, pharmaceutical, scientific and measuring equipment, electrical and electronics, food, chemical and chemical products as well as machinery and equipment.
“Concurrently, we hope that these investments will spur more talent development programmes to future proof our workforce, building uponour National Investment Aspirations (NIA) and the Twelfth Malaysian Plan (12MP) towards 2025,” said Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali, who witnessed the signing.
MEDEF International CEO Philippe Gautier added that its France-Malaysia Business Council, in particular, has been actively meeting and engaging with Malaysian public authorities and private sector decision-makers for three decades through a number of business missions to Kuala Lumpur.