A Memorandum of Understanding (MoU) signing between the Malaysian Investment Development Authority (MIDA) and MEDEF International, the French private business network formalises a continuous partnership between both organisations to encourage, promote and facilitate potential investments and business cooperation for mutually beneficial outcomes.
Arham Abdul Rahman says, “Given MEDEF International’s invaluable global network in more than 120 markets, this partnership will enable more Malaysian businesses and technology providers to better connect with the global supply chain. The Government of Malaysia, through MIDA, will continue to work closely with MEDEF International to further boost and realise French investments in Malaysia.”
For Philippe Gautier, CEO of MEDEF International, MIDA and MEDEF International has established a long and close relationship over many years. “MEDEF International’s France-Malaysia Business Council, in particular, has been actively meeting and engaging with Malaysian public authorities and private sector decision-makers for three decades through a number of business missions to Kuala Lumpur.
“We have also continued to work virtually with MIDA over the past two years since the pandemic to foster opportunities and connect more French companies with Malaysian businesses. We look forward to more future collaborations in building dynamic bilateral relations.”
Economic ties between Malaysia and France have flourished over the years driven by solid diplomatic foundations. This is evident through the increasing number of French companies investing in Malaysia. As of December 2020, a total of 126 manufacturing projects with French participation have been implemented in Malaysia, with total investments worth RM4.36 billion (USD1.31 billion), creating more than 10,900 jobs.
Underscoring the significance of the MOU, Senior Minister and Minister of International Trade and Industry remark, “France has had a long presence in Malaysia’s manufacturing and services sectors. Recognising the synergies between the French innovative capabilities and Malaysia’s value proposition, we are confident that there will be more French investors, investing particularly within high value and high technology fields such as transport equipment (aerospace), 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 (NIA) and the Twelfth Malaysian Plan (12MP) towards 2025.”
The MoU signed by Arham Abdul Rahman and Philippe Gautier, during the roundtable meeting with MEDEF International’s France – Malaysia Business Council members, was witnessed by Azmin Ali.
Also present at the signing ceremony were His Excellency Dato’ Mohd Zamruni Khalid, the Ambassador of Malaysia to France; Hairil Yahri Yaacob, Deputy Secretary-General (Trade) of MITI; and Mohd Mustafa Abdul Aziz, CEO of Malaysia External Trade Development Corporation (MATRADE).
