Sri Lanka invited to invest and set up businesses in Malaysia

Oct 02, 2014 (LBO) - Sri Lanka has been invited to invest and set up firms in Malaysia by the Malaysian Investment Development Authority, the investment promotion agency of Malaysia, Ceylon Chamber of Commerce said in a media release. This invitation was made by the official of Malaysian Investment Development Authority (MIDA), when they met local businessmen at the Ceylon Chamber of Commerce premises, during early this week.

Officials from MIDA said that the Malaysian government offers wide scale benefits for businesses setting up in that country and it has already facilitated more than 5,000 foreign firms from more than 40 countries to set up companies in the country.

According to the Department of Statistics of Malaysia, the foreign direct investments to Malaysia stood at 12,198 million dollars in 2011 decreased to 10,074 million dollars in 2012 and up 25 percent to 12,306 million in 2013.

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The Malaysian Investment Development Authority (MIDA) is set to hit its manufacturing investment target of RM52 billion for 2014, having already secured RM41.75 billion for the first five months of the year.

The Malaysian government is in the process of encouraging the private sector including government-linked companies (G