by AZALEA AZUAR / pic MUHD AMIN NAHARUL
MALAYSIA ought to goal the know-how sector in its efforts to draw overseas direct funding (FDI), mentioned a Singapore-based lawyer.
“I’ll say Malaysia ought to proceed to concentrate on growing your know-how sector. Malaysia, Penang particularly, is well-known to appeal to FDIs for digital sectors. So it’s best to proceed to construct up your presence and powerful place to develop the know-how sector,” Drew & Napier LLC director for company and finance Wu Geng instructed a convention in Petaling Jaya right this moment (Dec 7).
He mentioned that one other key motive was that the sector was destined to develop for one more 20 years.
“So Malaysia is within the place to proceed to develop its tech sector,” he mentioned on the CEO Collection 2023 convention organised by Actual Property and Housing Builders’s Affiliation of Malaysia (REHDA).
Financial institution of China (Malaysia) Bhd deputy CEO Datuk Alvin Tay Swee Gim additionally spoke on the significance of focussing on a selected space in efforts to draw FDI, pointing to neighbouring Singapore which went for the biotechnology sector.
“They [even] constructed the laboratory for biotech. They did it with a price of a whole bunch of thousands and thousands,” he mentioned.
The occasion mentioned Malaysia’s 2024 financial outlook, specializing in attracting strategic overseas direct investments, key financial points and regional actual property traits.