MIDA and CCI France Malaysia exchanged MOU to increase French investment in Malaysia
On 18 January 2018, YB Dato' Sri Mustapa Mohamed, the Minister of International Trade and Industry witnessed the exchange of Memorandum of Understanding (MoU) between Malaysian Investment Development Authority (MIDA) and CCI France Malaysia in conjunction with the 60th Years Malaysia-France Gala Night Dinner.
The objective of this MOU is to strengthen relations and cooperation between MIDA and CCI France Malaysia for the promotion of French Investments in Malaysia and the support of French companies seeking to expand their activities in Malaysia.
As at September 2017, 164 manufacturing projects with French participation were approved with total investments of RM8.92 billion (USD3.17 billion) and estimated to create a total of 17,619 potential employment. Majority of these investments were in electrical & electronics, machinery & equipment, transport equipment, and chemical & chemical products. Notable French companies operating in Malaysia include ST Microelectronics, Lafarge-Holcim, Veolia, Airbus, Safran, Saint-Gobain, Air Liquide, Valeo, Technip FMC and Decathlon.
“We are excited to have CCI France on board with us to promote investments into Malaysia especially from France. This partnership is an excellent model of how government and foreign chambers work together in achieving common goals. The efforts made by CCI France Malaysia to collaborate with MIDA in attracting investments reflect its confidence in Malaysia as a profitable investment location. With this MoU, we look forward to receiving more investments coming from France,” said MIDA CEO, Dato' Azman Mahmud.
“Quote for CCI France Malaysia,” Gilles WAELDIN, President of CCI France Malaysia.
“French Business Presence has significantly increased over the last few years, including Entrepreneurs a fact that shows clearly the ease to do business in Malaysia. As a testimony, CCI FRANCE MALAYSIA business incubators capacity has been increased from 30 to 45 companies and enjoy an average occupancy of 80% today.
This success is definitely due to the positive and pragmatic support of MIDA and other Malaysian Agencies and our collaboration will certainly further increase the development of the presence of French companies in Malaysia.”
