April 24, 2011 16:13 PM

JOHOR BAHARU, 24 April (Bernama) -- Malaysian business councils are to be empowered to make them more effective in helping to bring in foreign direct investment.

Secretary general of the National Chamber of Commerce and Industry of Malaysia Datuk Syed Hussien Al-Habshee said today that the Ministry of Trade and Industry would meet the councils on May 20 to discuss how they were to be empowered.

Syed Hussein, who is coordinating efforts to empower the councils, said:"The ministry wants the councils to play a bigger role in helping Malaysia attract foreign direct investment."

He said the councils, each of which has representatives of virtually all sectors of the economy and a membership that includes business entities of a foreign country, were well equipped for a bigger part in drawing direct investment to the country.

He said that attracting investment should not be the responsibility of the ministry and government agencies alone.

The more than 20 business councils in the country, led by top corporate figures, could use their business contacts and close relations with their foreign counterparts to good effect.

Syed Hussein said the effort to attract foreign investment had to be stepped up because of the stiff competition from countries in the region.

Syed Hussein, who was ambassador to the United Arab Emirates, suggested that Malaysian business councils for the gulf states be headed by a member of royalty.

This was in view of the leading role that royal families play in the economy of these states, he said.

-- BERNAMA