KUALA LUMPUR, July 7 — Malaysian companies seeking to become globally competitive should consider investing in New Zealand’s food tourism, dairy farming technology and production of water as the country has lifted most restrictions after reporting no active Covid-19 community cases, said the President of New Zealand Malaysia Business Association (NZMBA), Dave Ananth.
He said Malaysia needs to do more to promote itself in the island country as there are many opportunities and “we only need the right people with the right attitude and entrepreneurs who can think out of the box.
“During Covid-19, some basic essential items became scarce in New Zealand and other countries ... people realise that relying on imported food and water is risky. You need local production of essential items, you learn from these lessons.
“As such, food tourism is something Malaysian businesses can look for in New Zealand besides dairy farming technology,” he told Bernama in an email interview.
Dave, who is also Senior Tax Counsel with Stace Hammond Lawyers in Auckland, however, predicted that the actual foreign direct investment can only take place next year as New Zealand’s border is currently closed to almost all travellers.
“For now, it is a wait-and-see game,” he said, adding he had proposed to the Negri Sembilan government to set up a New Zealand model of dairy farming system in the state.
He said New Zealand is one of the countries where it is very easy to start a business with minimum government regulations, besides having a pool of Information Technology experts including in digital marketing.
Dave said NZMBA has been helping Malaysian businesses in New Zealand during the pandemic, and the senior tax counsel said he had been personally involved by helping some of the Malaysian businesses with pro bono advice on commercial leases, taxation, and digital marketing.
He also commended the efforts taken by the Malaysian government in flattening the curve of the global pandemic “where this will help pave the way for all of us to get our lives and our economy back on track”.
“Health and safety are paramount to any foreign investors coming into Malaysia, including investors from New Zealand, besides the usual tax incentives,” he said.
He said the total bilateral trade between the two countries in 2016 stood at US$1.42 billion (RM6 billion), where exports from Malaysia to New Zealand amounted to US$730 million, while imports from New Zealand to Malaysia amounted to US$680 million.
Dave said the Malaysia-New Zealand Free Trade Agreement, which was signed in October 2009 in Kuala Lumpur, saw many New Zealand companies having a significant presence in Malaysia — mainly in food sectors and Information and communications technology (ICT). — Bernama
