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MIDA Approves 54 Regional, Global Operations In Q1 With RM5.4 Billion Investments [ 07-09-2012 ]

JOHOR BAHARU, Aug 29 (Bernama) -- The Malaysian Investment Development Authority (MIDA) has approved the setting up of 54 regional and global operations in Malaysia in the first quarter of this year with investments of RM5.4 billion.

Its chief executive officer, Datuk Noharuddin Nordin, said these operations would create over 9,000 jobs, mainly in managerial, professional and technical levels.

"Malaysia's world-class infrastructure, good connectivity, strategic location within Asean, attractive investment incentive packages and liberal policies on foreign equity participation are among the compelling reasons cited by the multinational corporations for siting their regional and global establishments in this country," he said.

Noharuddin said this at the opening of Frost and Sullivan's Global Innovation Centre at Nusajaya here today.

Also present were Frost and Sullivan's global president Aroop Zutshi and chief executive of Iskandar Regional Development Authority Datuk Ismail Ibrahim.

The Malaysian government, he said, has identified and actively promoted the services sector as it offered numerous growth opportunities.

Among the services sector MIDA actively promoted were global operations hub and regional establishments, which included operational headquarters, international procurement centres, regional distribution centres, regional offices and representative offices, he said.

Noharuddin said Frost & Sullivan has committed to invest over RM500 million in Malaysia over the next seven years and create about 830 high income jobs by 2020.

Malaysia, he said, already housed the largest office of Frost and Sullivan in Asia-Pacific outside India with close to 130 employees.

Meanwhile, Zutshi said, the GIC in Iskandar would serve the company's global operations and offices, providing opportunities for local employees to work on global projects.


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