BY AZLAN ABU BAKAR/NST
OPPORTUNITIES: DPM hopes French firms will invest in high-skill industries in Malaysia
PARIS: MALAYSIA wants to see more investments from France, particularly in new growth areas, says Deputy Prime Minister Tan Sri Muhyiddin Yassin here yesterday.
They include high technology, value-added, knowledge-based and skill-intensive industries, which could provide high-income jobs.
Muhyiddin told French business leaders at a roundtable meeting at the Four Seasons Hotel that Malaysia's emphasis focused on talent, creativity and innovation.
"This will not be possible without the inflow of new foreign direct investments. France continues to be an important trading and investment partner.
"Investment and economic relationship between the two countries is a key pillar to the bilateral relationship."
Muhyiddin earlier attended the opening ceremony of the 37th United Nations Educational, Scientific and Cultural Organisation (Unesco) General Conference at its headquarters here.
France is Malaysia's 16th largest trading partner and trade between the two nations is worth around US$6.02 billion (RM19 billion) annually.
From January to August, the total trade recorded was US$3.54 billion.
Muhyiddin said given the strong level of French technological expertise and innovative culture, he believed there were many opportunities for investments by French companies, especially in key sectors, such as aerospace, automobile, machinery and chemical industries.
"We are adopting the ecosystem approach in promoting investments in the country. This approach acknowledges that business models are continuously evolving and sophisticated business solutions often entail a more complex and dynamic relationship of a wide range of activities."
Muhyiddin urged French companies to explore some of the opportunities highlighted, noting that Malaysia was committed in ensuring investors' needs of doing business in the country were met.
Apart from the manufacturing sector, Muhyiddin said the government was also intensifying its efforts to promote and develop the services sector.
He said under the 10th Malaysia Plan, the services sector was expected to grow at 7.2 per cent annually until 2015, contributing 61 per cent to the country's gross domestic product by end of the plan.
To date, the government had liberalised 45 services sub-sectors which included tourism services, healthcare, education, business and professional services.
Muhyiddin said the services sector would continue to be the main contributor for economic growth.
