KUALA LUMPUR, Jan 30 — Malaysia has long-standing ties with major Swedish firms and can serve as a hub for the Scandinavian companies looking to enter the region, said the Malaysian Investment Development Authority (MIDA).
MIDA chief executive Datuk Azman Mahmud said this could be seen in Kuala Lumpur’s selection to host second Swedish-Southeast Asia Business Summit this year by respondents from the previous edition.
He also encouraged local firms to explore collaborations with Swedish firms, saying the benefits could extend beyond finances alone.
“Swedish companies such as Volvo, Scania, Bromma, and SKF have been here for many decades.
“Therefore, I encourage more Malaysian companies to tap into knowledge of Swedish industry experts to acquaint with the way of doing business,” Azman added.
MIDA said its records showed it approved 126 manufacturing projects with Swedish participation and investments worth RM2.7 billion last year alone.
“Sweden is an important source of foreign investment for Malaysia. We hope this summit will result more inflow of Swedish investments in Malaysia, particularly in high growth and advanced technology industries,” Azman said when announcing the summit today.
Swedish ambassador to Malaysia Dag Juhlin-Dannfelt said Southeast Asia is a key region for trade as it was rapidly growing.
“Therefore, Swedish companies wish to demonstrate what Sweden has to offer the potential investors partners within Southeast Asia region,” he said.
The business summit will provide a platform for Swedish, Malaysian, and regional businesses to gain insights from industry peers and policy experts, and to connect with potential partners.
The summit will take place at the JW Marriot here on February 6 and 7.
