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GCC Countries Attractive Locations For Malaysian Companies

| 18/03/2009 | Reply

DUBAI, (Bernama) — Countries in the Gulf Cooperation Council
(GCC) especially in major cities such as Dubai, are increasingly
offering attractive locations for Malaysian companies that intend to
grow their business in the Halal food products, healthcare and
information communication technology (ICT) industries.

Malaysian Trade Commissioner to the United Arab Emirates, Norasian Hadi
Abdul Kadir said despite the current economic slowdown, these countries
in the GCC, which include Bahrain, Qatar, Kuwait, Oman, Saudi Arabia
and United Arab Emirates, are still attractive investment destinations
being cash rich countries.

“The GCC countries are least affected by the global economic crisis and
they have the cash reserves to invest and absorb growth,” Norasian told
reporters during a visit to MATRADE’s office here in Dubai.

He said while the property related sectors might be affected in the GCC
countries, infrastructure development was still continuing.

“There are opportunities for Malaysian companies. Malaysia’s good
branding (and image) will be advantage for Malaysian companies to
expand in this region,” he said.

Malaysia also enjoys strong exports in jewellery, and electrical and electronics products (E&E) here, he said.

He emphasized that Malaysian companies involved in the manufacturing of
E&E products can seek new markets in GCC countries in view of the
slowdown in exports from US.

Malaysian exports to UAE for last year amounted to RM12.559 billion,
with jewellery products and E&E comprising the majority of the
products.

The export was also an increase from 2007’s RM10.124 billion figure.

Malaysia’s total trade with UAE amounted to RM20.9 billion last years.

There has been a double digit growth in bilateral trade between Malaysia and UAE over the past six years, Norasian said.

Meanwhile, MATRADE chief executive officer, Datuk Noharuddin Nordin
said the agency is forging a tie with Dubai Export Development
Corporation to enhance trade between both countries.

MATRADE will exchange the Memorandum of Understanding with Dubai Export
Development Corporation on Tuesday in conjunction with the Malaysian
Services Exhibition (MSE) being held in Dubai’s Airport Expo Exhibition
Centre.

The MSE (March 17-19) will feature Malaysia’s capabilities in the services industry.

Noharuddin said the Middle East was an exciting market and despite the
global economic crisis, the market offered strong potential for growth
in the services industry.

Category: Media & Events, Middle East & Africa

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