MITI mission to US brings potential investments of RM325mil


PHOENIX (Arizona): The International Trade and Industry Ministry's trade and investment mission to the United States from Nov 27 to Dec 6 has managed to attract potential investments of RM325.3mil and possible sales of RM56.176mil from the three cities it visited. 

This was the result of 356 business meetings between the delegation members and American businessmen in Philadelphia, Chicago and Phoenix, according to a statement from the Malaysian Industrial Development Authority (Mida). 

The mission, comprising 36 members led by Minister Datuk Seri Rafidah Aziz, was organised by Mida and Malaysia External Trade Development Corp (Matrade). 

A seminar on “Business Opportunities in Malaysia” held in Philadelphia on Nov 28 received encouraging response from 265 participants and the 162 business meetings there translated into potential investments worth RM35.8mil and likely sales of RM40.34mil. 

Projects discussed there included the manufacture of poultry processing equipment, animal vaccines, hospital equipment, machine tool parts, steel, car accessories, motor vehicle lighting, pharmaceutical active ingredients and industrial enzymes. 

Others included the areas of information and communications technology (ICT) such as computer-aided design/computer-aided manufacturing (CAD/CAM), design engineering, content development as well as areas such as nanotechnology and biomedical, hospital construction and research and development (R&D) centre for natural resources. 

In terms of sales, it involved fruit juices, medical equipment, building equipment, rubber gloves, automotive accessories, rubber, virgin coconut oil, business consultancy, poultry cages, electro-luminescent backlighting and synthetic metal fibre. 

The seminar in Chicago on Nov 30 was impressive with a turnout of 282 participants despite adverse weather conditions. The 116 business meetings there managed to draw potential investments and sales of RM180mil and RM15.836mil respectively. 

Projects discussed were the manufacture of additive for food industries, rubber glove products, recharged battery, chemicals, liquid polymer plate making system, tool and die, fruit puree, R&D for biodiesel, real estate, distribution of food and supply of medical equipment. 

Sales involved solely rubber gloves and pink guava. 

And the seminar in Phoenix on Dec 4 was attended by 165 people and the 78 business meetings discussed potential investments worth RM129.5mil. 

These included precision machinery for the aerospace industries, biomedical products, photovoltaic panels for solar energy, contract manufacture of super scooter, personal transporter, as well as the setting up of regional distribution centre, regional office, electronics procurement system, R&D in biomedical products and environmental engineering services. – Bernama 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In Business News

Morgan Stanley CEO's annual pay rises by over 20%
‘Unstoppable’ luxury stocks remind some investors of US tech
Ambani’s Reliance doubles down on 5G pledge after record profit
PUNB offers payment deferment, rental discount
CPO futures may undergo technical correction next week
Blackstone-backed Patria eyes expansion in Latam, Asia
METALS: Tin, aluminium, copper prices down
Oil price falls on China's COVID-19 cases, high crude build
IBM, Intel slump weighs on Wall St as coronavirus concerns rise
GLOBAL MARKETS-Weak data, earnings drag stocks lower

Stories You'll Enjoy