PETALING JAYA: The Malaysian Investment Development Authority (Mida) and French private business network, Medef International, have inked a strategic partnership to promote and facilitate potential investments and business cooperation between France and Malaysia.
The signing of the memorandum of understanding between Mida and Medef International was witnessed by Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali yesterday.
Given that France has had a long presence in Malaysia’s manufacturing and services sectors, Azmin said he was confident that there would be more French investors undertaking investments in the high value and high technology fields in the country.
“This includes transport equipment (aerospace), information and communications technology (ICT), pharmaceutical, scientific and measuring equipment, electrical and electronics, food, chemical and chemical products, as well as machinery and equipment.
“Concurrently, we hope that these investments will spur more talent development programmes to future-proof our workforce, building upon our National Investment Aspirations and the 12th Malaysia Plan towards 2025,” he said.
As of December 2020, a total of 126 manufacturing projects with French participation had been implemented in Malaysia, with total investments worth RM4.36bil, creating more than 10,900 jobs.
Meanwhile, Mida chief executive officer Arham Abdul Rahman said the partnership would allow more Malaysian businesses and technology providers to better connect with the global supply chain.
This was because Medef International’s global network was in more than 120 markets.