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Tuesday, Sep 21, 2004

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Malaysian cos keen to invest in India

Our Bureau

New Delhi , Sept. 20

MALAYSIAN construction companies, having completed 21 projects in India worth $830 million, are keen to expand their participation in infrastructure projects including power supply, airport and port development. Malaysian companies are also keen to collaborate with Indian companies to bid for projects in third countries.

This was stated by Mr Tan Sri Halim Mohamad, Chairman of Malaysian External Trade and Development Corporation (MATRADE), at a seminar on Malaysia-India Business Opportunities, organised jointly by the Confederation of Indian Industry (CII), MATRADE and Malaysian Industry Development Authority, here on Monday.

Malaysia is currently undertaking 26 projects worth $1.2 billion in Indian projects ranging from highways and roads, water supplies and housing. Mr Mohamad, leading a 28-member strong business delegation, is here to highlight opportunities for expanding business collaboration between Malaysia and India, stated CII.

Urging the Indian ICT sector to invest in Malaysia, he said that in line with the development of the ICT sector in Malaysia, the Malaysian Government had established the `Multimedia Super Corridor' (MSC), which aimed to provide a "springboard to the South East Asian market." To date, a total of 1,106 companies have been awarded MSC status, with 41 companies from India, said a CII statement.

Indian investments have long contributed to the development of Malaysia's manufacturing sector and a total of 144 projects had been approved so far with Indian investments valued at $420 million.

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