December 3, 2009

Malaysia eyes US$9 billion of Middle East industry investment

Malaysia's East Coast Economic Region Development Council (ECERDC) aims to clinch MYR30 billion (US$8.9 billion) of investments from the Middle East next year in the agriculture, food production, tourism and education sectors.

CEO Jebasingam Issace John said the council will embark on a focus mission to the Gulf Cooperation Countries (GCC) in March 2010 to attract investments for Malaysia's East Coast Economic Region.

There are many things in the East Coast that can be of interest to Middle East investors, including the agriculture, food production and halal industries, he said, adding that those segments are areas they are looking at for cooperation and investments.

Jebasingam noted that the economic region would not focus solely on the Middle East, as it aims to expand its market to the rest of Asia Pacific.