Singapore-based European companies should explore opportunities to invest in Iskandar Malaysia, the main southern development corridor in Johor, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
"So far, Iskandar Malaysia has attracted investments worth RM73 billion until March this year," he said at the Europe Day luncheon organised by the European Chamber of Commerce Singapore (EuroCham) here Monday.
Also present, were Malaysian Ambassador to Singapore Datuk Md Hussin Nayan, EuroCham President Michael Collins and, Ambassador and Head of Delegation of the European Union to Singapore March Ungeheur.
Mustapa said Iskandar Malaysia had highly attractive special economic zones and would, among others, be the site for a regional oil storage hub and education city.
He said investors in the economic zone were accorded special tax incentives.
"Various other dispensations are also offered to facilitate the recruitment and retention of talent.
"Should you want to consider locating investments in some other parts of the country, there are other economic corridors located in different regions which serve as hubs for specific activities," he said, adding that they all offered a broad range of incentives to investing companies.
Mustapa also briefed the EU business community here on Malaysia's Economic Transformation Programme, where a number of industries have been identified as key drivers of growth.
They included oil and gas, financial services, palm oil, the wholesale and retail trade, tourism, business services, health services, agriculture and education.
Mustapa said until April 2011, 72 Entry Point Projects under the ETP have been announced by Prime Minister Datuk Seri Najib Tun Razak.
"For companies from Europe, investment pledges amounted to RM19 billion or about 20 per cent of total investments," he said, adding that a majority of the investments related to oil and gas, wholesale and retail and wafer fabrication industries," he said.
"Our overall plan is to attract investments in high technology and knowledge-driven industries in areas such as alternative energy sources, biotechnology, advanced materials, petrochemicals, pharmaceuticals and resourced-based industries.
"In services, we welcome investments in logistics, tourism, healthcare and environmental management," he added. - Bernama
