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KUALA LUMPUR, 26 JULY, 2010: Malaysia is optimistic of wooing RM115 billion private investment by 2015 in line with the target set under the 10th Malaysia Plan, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
He said the Government Transformation Plan would create a conducive environment for investment flow.
"RM115 billion investment represents foreign direct investment and Malaysia's investments overseas. The six per cent gross domestic product growth forecast this year is achievable," he said.
Mustapa also said there was potential investments from South Korea particularly in the property sector.
To date, investments from South Korea totalled US$3 billion, he said.
Mustapa said there are indications that South Korean companies are keen to increase their investments in Malaysia.
"We should exploit this potential with South Korea's aggressive investment overseas," he said.
The latest investment from South Korea is the acquisition of Malaysia's largest petrochemical producer, Titan Chemicals Corp Bhd, by Honam Petrochemical Corp.
Another investment by South Korea is the plan to set up a solar cell manufacturing plant at the Senai Hi-Tech Park in Johor by STX Corp.
Mustapa said interest in Malaysia's property sector among South Koreans was also promising as they see Malaysia as an ideal place to live due to good quality of life and safe environment.
Meanwhile, at the Business Councils meeting with the International Trade and Industry Ministry today, Mustapa said strategic partnership promotion and ways to boost trade and investment took centrestage.
Among the Business councils which attended the meeting are the Malaysian-French Chamber of Commerce and Industry, Malaysian-Swedish Business Association, Malaysia-Norway Business Council, Malaysia-Italy Chamber of Commerce and Industry and Malaysia-Dutch Business Council.
The East Asia Business Council and Malaysia-Japan Economic Association also attended the meeting.
Mustapa also said there was a need to enhance the ministry's database system to provide comprehensive information on foreign investors and trade.
"We discussed ways to share information and to complement the information with the foreign countries," he said.
He said the currrent database system focused on information gathered from the Malaysia Investment Development Authority (MIDA), mainly on companies that have received incentives from MIDA.
"Some companies which don't have large investments are not captured," he added.
-- Bernama
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