MIDA signs MoU with IPAQ to promote Investments
Focus Malaysia 11 Oct 2019 11:53
The Malaysian Investment Development Authority (MIDA) signed a Memorandum of Understanding (MoU) with the Investment Promotion Agency Qatar (IPAQ) today to enhance mutual cooperation in generating investment crossflows between the two countries. The signing ceremony was held in conjunction with the 2nd Malaysia-Qatar Joint Trade Committee Meeting (JTC) in Malaysia this week. The partnership includes information exchanges on economic and industrial development as well as the organisation of joint promotional activities such as conferences and seminars that target investors.
“The partnership between MIDA and IPAQ will strengthen the existing business relations between Malaysia and Qatar. Being a diversified economy with its competitive and comparative advantages, Malaysia provides many business opportunities for the Qatari investors to access the wider market in the ASEAN region. We aim to create new opportunities and catalyse business collaborations through a seamless facilitation channel that will contribute positively to the economic growth of the two countries. We look forward to leveraging on IPAQ’s network and resources to provide more rewarding connections for both our business communities. We want to attract more investments from Qatar. The strength of Qatar in service-based activities is very much in line with our current focus on attracting investments in the services sector and making Malaysia a regional hub for foreign investors,” said Dato’ Azman Mahmud, Chief Executive Officer (CEO) of MIDA.
“We are proud that many Malaysian companies such as Gamuda, UEM, Eversendai, Holiday Villa and Malaysia Airports have increasingly enlarged their footprint in Qatar. With the upcoming 2022 FIFA World Cup in Qatar, we trust that there will be more business opportunities that can be explored by Malaysian businessmen there,” added the CEO of MIDA.
According to IPAQ CEO, Shiekh Ali Alwaleed Al-Thani, “The newly formed Investment Promotion Agency of Qatar looks forward to building on this agreement and enhancing cooperation and sharing of best practices. We believe that our strong relationship will enhance and support the expansion of both Malaysian and Qatari investments in our respective countries.”
The JTC is expected to strengthen the bilateral partnership between both countries and to open new horizons of co-operation to promote Malaysia – Qatar trade and investment. The Minister of Commerce and Industry Qatar and the Minister of International Trade and Industry Malaysia co-chaired the meeting.