CEOE’s Vice President, Joaquim Gay de Montellà, and the director of International Relations, Narciso Casado.
The Diplomat. 10/07/2018
A business delegation of CEOE, headed by its vice president and president of the International Relations Commission, Joaquim Gay de Montellà, participated yesterday in Kuala Lumpur in a meeting with representatives of Malaysian Investment Authority (MIDA).
The business delegation, of which the director of Office of Presidency, International and Institutional Relations, Narciso Casado, is also part, held a meeting with the Spanish Economic and Commercial counselor in Malaysia, Rafael Matos, and with managers of more than fifteen Spanish companies of sectors related to engineering consultancy, gas, oil, information technology, aerospace surveillance technology, legal services, aerospace, infrastructures or water treatment, among others.
The meeting with representatives of MIDA was attended by: the deputy managing director, Arham Abd. Rahman; the director of the Division of Promotion of Foreign Investment, Nelson Samuel; and the deputy director of the Section of Europe and America of the Ministry of Trade of Malaysia, Nor Aida Wasir.
According to the CEOE, Joaquim Gay de Montellà pointed out that the Asian southeast, where the presence of Spanish companies is still limited, deserves to be paid special attention taking into account its political stability, its optimum business climate and its high growth of the GDP. And he emphasized that Malaysia, with an average growth of the GDP of 5% in the last two decades and strategically located, is not an exception to the case. He also affirmed that the advantages offered by the country have turned it into one of the favorite destinations for Spanish companies to invest.
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Gay de Montellà affirms that the country is one of the favorites for Spanish investors in the Asian southeast
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For his part, Arham Abd. Rahman, talked about promoting cooperation, not only bilateral but also in third markets, and he emphasized that among the proposals of the new government is that of promoting foreign investment and that MIDA can help companies to identify the key sectors.
Nelson Samuel pointed out that those countries that benefited the most from MIDA’s services were China, Switzerland and Singapore, but in previous years, the country that the most investment projects got was Japan. Samuel informed that the new government intends to facilitate and promote foreign investment, so it establishes that 100% of the property of the investment and the profits can only be for the investor; it guarantees the repatriation of profits for the company; facilitates the employability of the expatriates; and protects the intellectual property.
Nor Aida Wasir, finally, presented the program for the development of exports, which consists of promoting goods and services, and explained that the Government wants to promote exportation in sectors such as aerospace, medical and pharmaceutical products or car components.
