Malaysia seeks investment from Indian companies

The Malaysian government is looking at investments from Indian companies, including the small and medium sector, to expand the economic ties between the two countries.

Malaysia’s minister for international trade and industry M Muhamed, who met representatives of a cross section of companies from infrastructure, pharma and software during his two-day trade mission to Hyderabad, said many of the companies had promised to visit his country in search of investment opportunities. 

Hyderabad is very strong in services industry and Malaysia too is now planning to focus on this sector, the minister said. He wanted software companies like Mahindra Satyam, TCS and Infosys, which already have their presence there, to further expand operations while expecting new companies to invest in their chosen areas.

 

Big companies like Reliance Industries and L&T have set up their base in Malaysia in the past mostly through acquisitions, the minister said, adding he would like to see small and medium-sized Indian companies too to come to his country.

The bilateral trade between India and Malaysia stood at $12.5 billion last year with imports from that country largely spread across electric and electronic goods, petroleum products and crude and refined palm oil. According to the minister, his government aims to increase the trade between the two countries to $15 billion by 2015.

Malaysia is betting big on the ongoing negotiations for signing an agreement for services and investments between India and Aseancountries in addition to the comprehensive economic cooperation and trade agreement they signed in July last year, he said.