KUALA LUMPUR, Nov 14 — Malaysia is keen to strengthen economic linkages with the Islamic Development Bank (IDB), following greater interest from 23 of its member countries to learn about Malaysia’s strategy in attracting foreign direct investments (FDI).

A total of 27 representatives from investment promotion agencies from developing countries participated in the Malaysia Investment Promotion Model for IDB and Organisation of Islamic Cooperation (OIC) to see how Malaysia has turned in the best FDI performance among OIC countries.

IDB Structured Finance Department Acting Director Mohamud Khalif said the programme would enable participants to benefit from Malaysia’s experience in the long run.

Meanwhile, Malaysian Investment Development Authority Deputy Chief Executive II Datuk N Rajendran said IDB member countries have always been on Malaysia’s radar for investment missions and cooperative capacity building initiatives.

“For last year, approved investments for manufacturing projects with member countries stood at RM27.482 million and for the period from January to July this year, approved FDI stood at RM3.520 million,” Rajendran told reporters on the sidelines of the programme opening today.

He said the agency is looking forward to attracting more investments from IDB countries, particularly in sectors other than chemicals, food and beverages, textiles and wood products.

“We are also seeing the emergence of services companies in Malaysia and significant investments from Dubai,” he said, citing an oncology research and development facility that will produce anti-cancer drugs for the domestic market. — Bernama