Wednesday April 16, 2008

ANZ optimistic on FDI in Malaysia

KUALA LUMPUR: Australia sees good potential for foreign direct investment (FDI) in Malaysia, says Australia and New Zealand Banking Group Ltd chairman Charles Goode.

“The Malaysian economy has great momentum and is growing,'' Goode said after a luncheon hosted by the Kuala Lumpur Business Club (KLBC) yesterday.

“Malaysia also has variability and change in the composition of its Parliament, which is great.

“It also has a good democracy, which is good for the economy,” he added.

Goode is on a visit with delegates from the Australia-Asia Society comprising leading business people from Australia looking to improve business ties with Malaysia.

The delegates are from the banking, legal, education and transportation sectors.

He said the delegates had over the past two days met a number of ministers, including Prime Minister Datuk Seri Abdullah Ahmad Badawi, who had shown keen interest in developing business ties with Australia.

“We met a number of ministers and they encourage foreign investments, and indicated a continuity of policies to outside business.

“We definitely feel welcome in continuing an increasing involvement with Malaysia,” he said.

He added that the services sector in Malaysia looked particularly promising.

Meanwhile, KLBC president Datuk Dr Munir Majid said FDI from Australia to Malaysia was expected to increase given the good ties between both governments.