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| Selangor's Direct Investment,1st H. 2012 |
Recently, I visited the Malaysian-German Chamber for Commerce and Industry (MGCC) to further our collaboration and discuss possible projects or new initiatives. It was a good opportunity to learn more about the commitment and strong investment position of German corporations in Malaysia. According to the German embassy and MGCC, there are more than 300 German corporations in Malaysia and many of them here in Selangor. Please also have a look at the MGCC Blog for their post on my visit. First of all, i had a little office tour, which included the German Business Centre and the meeting area of the chamber. Thomas Brandt, the general manager of MGCC, was so kind to explain all services and facilities to me. We finally sat down and discussed the current business and investment environment as well as the potential to work together. Certainly, it was my pleasure to mention that Selangor in the first 5 month of 2012 became the preferred investment destination in Malaysia and thereby leads the overall investment statistics of the country. German companies have been an important contributor in this context. Please refer to the table for more information.
As a matter of fact, besides one large-scale project from Switzerland, it is Germany with four projects leading the top-list of foreign investors. Even the crisis did not stop German corporations to come to Selangor and so the business community is growing every year. Basically, we are glad to welcome large international players as well as expanding SMEs with high-tech profiles. Selangor is meant to become a hub for R&D, innovation and design, which will only be realized through the combined effort of politicians, research institutions, domestic and international corporations. Companies can expect spill-over effects for their product and technology development as well as a strong network and governmental support.
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| Teresa Kok, Selangor State Senior Ex. Councillor |
Coming back to MGCC and the German business community, I went to the plant opening ceremony of SGL Carbon in Banting, which is owned by Susanne Klatten, the daughter of the late Herbert Quandt of BMW. This facility is probably one of the most modern factories globally in its field. It was a great ceremony attended by the German ambassador, Dr. Guenther Gruber, the Malaysian Deputy Minister of International Trade and Industry Dato' Mukhriz bin Tun Dr. Mahathir, Selangor State Senior Ex. Councillor Teresa Kok and several management board members of the SGL Group, including Robert Koehler, Chairman and CEO. However, it was not only the obvious number of honorable guests, but also the number of SGL clients, business associates and the local business community which was impressive. Large corporations such as the Lion Group and other steel manufacturers from Malaysia were attending and proving that German business, know-how and technology is very welcome in Selangor.
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| Th. Brandt and myself (from left) |
At MGCC, we were discussing some of the problems, which German corporations still face at the moment. Some of these issues are caused by federal policies and therefore cannot be addressed through the state government. Nevertheless, Selangor is ambitiously aiming at new incentives and strategies to create an even better investment environment. Due to the excellent infrastructure in the state as well as the close proximity to Kuala Lumpur, the commercial capital of Malaysia and Putrajaya, the administrative capital, we certainly face high property prices around here. Also German companies have mentioned this point, as Thomas Brandt explained to me. At this point of time, I can only say that we are working on several options to decrease investment costs and make Selangor the best and most feasible option for any investment. During the next months, some of our ideas will be presented to the state government and so far, I am quite confident that many of the ideas will be implemented. Although I expect changes, we still will be able to offer some relief to our investors and that certainly includes Malaysian companies as well.
Stay tuned for more information on Selangor, Malaysia and the investment environment.
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