The PENINSULA/ BY CHRIS V PANGANIBAN 22 Jan 2009
DOHA: Malaysian Prime Minister Abdullah Ahmad Badawi has urged Qatari businessmen to collaborate with their Malaysian counterparts and venture into Islamic banking and finance and the global promotion of halal products and services.
These two ventures offer exceptional prospects for collaboration, Badawi, who was on a two-day visit here, told members of Qatari Businessmen Association and Qatar Chamber of Commerce and Industry during a business forum yesterday at Ritz-Carlton Hotel.
“Needless to say, Malaysian companies are keen to collaborate in these and other sectors,” Badawi said in his speech during the forum, dubbed “Malaysia-Qatar Business Opportunities” and attended by hundreds of businessmen from Qatar and Malaysia.
Representatives of companies engaged in construction and related services, oil and gas, health care, halal food, tourism and education from the public and private sectors were part of the 32-man Malaysian delegation that accompanied Badawi on his Doha visit.
Badawi stressed on the two new business propositions, citing the Malaysian government’s measures to encourage foreign investors to work hand in hand with Malaysian businessmen to engage in Islamic banking and the development of halal products in the global market.
He said the Malaysian government had offered tax incentives to create a modern and efficient Islamic financial centre, including new banking licences for foreign banks, allowing foreign equity participation in existing Islamic banks and takaful companies, allowing foreign financial institutions to conduct Islamic banking activities in international currencies and permitting greater flexibility to Labuan Offshore Financial Centre entities that offer Islamic financial services to operate anywhere in Malaysia.
“As a result of these and other measures, Malaysia is today a premier international Islamic financial centre for the creation, distribution and trading of Islamic capital market products, including treasury instruments such as sukuk,” Badawi said.
Badawi said Malaysia was actively developing and promoting the halal products and services industry by developing a standard that meets the requirements of the global Muslim community.
As part of Malaysia’s effort to enhance global business and trade in halal products, Badawi invited Qatari businessmen to take part in the Malaysian International Halal Showcase, scheduled to be held from May 6 to 10 in Kuala Lumpur