Malaysia is ramping up its campaign to attract foreign investments in the country.
Two Malaysian ministers were in Singapore in December last year to highlight the 60 business opportunities that have opened up under the Economic Transformation Programme (ETP).
The ETP seeks US$400 billion in fresh investments over the next 10 years.
A forum on its ETP was held on Tuesday in Singapore to update the business community here about Malaysia's changing business landscape. The forum was attended by 368 participants.
Malaysia wants not only the big players, but also the small and medium enterprises of Singapore to invest in the country.
Investors can tap sectors such as education, infrastructure and services, which are part of the 12 national key economic areas that the ETP will focus on.
Dato Sri Mustapa Muhamed, Minister, Ministry of International Trade and Industry for Malaysia, said: "We are committed to further open up and liberalise the Malaysian economy. Last year, we've done away with what we call the foreign investment committee guidelines.
"Before the dismantling of these guidelines, foreign investors had to get the approval of their advisee before they can acquire or dispose of assets including properties or shares."
Singapore leads foreign investments in Malaysia, a result of the warmer bilateral ties between the two countries and incentives offered by Malaysia, the ministers said.
From January to September last year, Singapore's investments across the causeway have totalled US$1.134 billion, comprising 75 projects, which are mainly in manufacturing and services.
In Iskandar Malaysia, Singapore firms have committed US$19.3 billion from 2006 to August last year. About US8.1 billion of this or 42 per cent are on-going actual investments.
To help facilitate investments from Singapore, the Malaysian Investment Development Authority has set up an office here.
Datuk Jalilah Baba, Director General and CEO, Malaysian Investment Development Authority, said: "The way forward is for the services sector to be spearheading about 60 per cent of the GDP. And the major services sectors that we are encouraging would be the headquarters, regional establishment, regional distribution centre, total supply chain management, oil and gas and services, manufacturing services. There are plenty, a host of services that we want to take to the next level.
"There are various incentives available for these kinds of industries or activities. Things like tax holidays for five to 10 years or even more if they require depending on how high value add that project would be, how strategic it would be for the country. And the incentives that we have would not differ whether they are SMEs or multinational companies."
Investors in Singapore can also look into oil and palm agriculture, where there has been less participation. Beyond Johor, investors can also venture into Malacca, which hosts manufacturing and the solar industries.
The visiting ministers say they expect Malaysia's economic programmes to promote more bilateral trade with Singapore.
Over ninety per cent of the ETP's funding is expected to come from the private sector.
But while the ETP has found interest among investors here, the challenge, analysts say, is in translating intentions into actual investments.
(Source: ChannelNewsAsia)
Two Malaysian ministers were in Singapore in December last year to highlight the 60 business opportunities that have opened up under the Economic Transformation Programme (ETP).
The ETP seeks US$400 billion in fresh investments over the next 10 years.
A forum on its ETP was held on Tuesday in Singapore to update the business community here about Malaysia's changing business landscape. The forum was attended by 368 participants.
Malaysia wants not only the big players, but also the small and medium enterprises of Singapore to invest in the country.
Investors can tap sectors such as education, infrastructure and services, which are part of the 12 national key economic areas that the ETP will focus on.
Dato Sri Mustapa Muhamed, Minister, Ministry of International Trade and Industry for Malaysia, said: "We are committed to further open up and liberalise the Malaysian economy. Last year, we've done away with what we call the foreign investment committee guidelines.
"Before the dismantling of these guidelines, foreign investors had to get the approval of their advisee before they can acquire or dispose of assets including properties or shares."
Singapore leads foreign investments in Malaysia, a result of the warmer bilateral ties between the two countries and incentives offered by Malaysia, the ministers said.
From January to September last year, Singapore's investments across the causeway have totalled US$1.134 billion, comprising 75 projects, which are mainly in manufacturing and services.
In Iskandar Malaysia, Singapore firms have committed US$19.3 billion from 2006 to August last year. About US8.1 billion of this or 42 per cent are on-going actual investments.
To help facilitate investments from Singapore, the Malaysian Investment Development Authority has set up an office here.
Datuk Jalilah Baba, Director General and CEO, Malaysian Investment Development Authority, said: "The way forward is for the services sector to be spearheading about 60 per cent of the GDP. And the major services sectors that we are encouraging would be the headquarters, regional establishment, regional distribution centre, total supply chain management, oil and gas and services, manufacturing services. There are plenty, a host of services that we want to take to the next level.
"There are various incentives available for these kinds of industries or activities. Things like tax holidays for five to 10 years or even more if they require depending on how high value add that project would be, how strategic it would be for the country. And the incentives that we have would not differ whether they are SMEs or multinational companies."
Investors in Singapore can also look into oil and palm agriculture, where there has been less participation. Beyond Johor, investors can also venture into Malacca, which hosts manufacturing and the solar industries.
The visiting ministers say they expect Malaysia's economic programmes to promote more bilateral trade with Singapore.
Over ninety per cent of the ETP's funding is expected to come from the private sector.
But while the ETP has found interest among investors here, the challenge, analysts say, is in translating intentions into actual investments.
(Source: ChannelNewsAsia)
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