Penang investment mission to Mideast draws RM100m

PENANG:
A mission by the state government to attract investors from the Middle
East to the International Halal Hub in Penang has drawn more than RM100
million in investments.

State trade committee
chairman Abdul Malik Kassim, who led the Penang government investment
mission to Dubai, Riyadh and Jeddah this month said at least four Saudi
companies will be arriving in Penang from Oct 6 for follow-up
discussions.

“We received overwhelming support from many major corporations who have pledged to come here,” said Abdul Malik.

Among them are Al
Balagh, a food processing, meat processing, cattle rearing and halal
mart chain store; Al Hayat, a cutlery and stainless steel producer; Al
Hayat Solar Energy, which runs a solar panel substation in Saudi Arabia
and Al Takammol, a food processing and packaging concern, he added.

“The Al Jawhara Group
of Hotels and Apartments in Dubai, which manages hotels on a halal
concept, has also agreed to invest in the hotel industry in Penang,
namely in real estate and help us to set up the halal concept
compliance hotel especially among the existing hotels in Penang.

“Among them are the
Acess Group from Saudi Arabia and Ethraa Group from Dubai,” Abdul Malik
said at a press conference chaired by Penang Chief Minister Lim Guan
Eng.

Abdul Malik said discussions were also held with three airlines to initiate direct flights to Penang.

Another large
organisation in Dubai has also expressed interest to take part in
cattle and goat rearing and meat processing industry. “This same
organisation, which has also carried out poverty eradication projects
in some countries, has also offered its expertise to help the state
government in its poverty eradication programme,” he added.

Abdul Malik said that
another multinational company with bases in the US and West Africa has
also expressed interest to help Malaysia promote its halal products.
“This company, which has its own trading house chain, is also expanding
the promotion of halal products to Europe and Africa.

“Hence, once we have
successfully set up our international halal hub, we will have all the
necessary expertise to help promote our halal products,” he added.

Abdul Malik said there were also parties who had expressed keen interest to invest in the Islamic banking and insurance sectors.

Lim said that he would
be embarking on a follow-up mission to the Middle East in October. “We
have worked hard over the past six months since taking over the Penang
state government and now we are seeing the results, though not really
as much as we would have liked.”

Category: Asia