HE the Minister of Commerce and Industry, Ali bin Ahmed al-Kuwari and Datuk Darell Leiking, Malaysia’s Minister of International Trade and Industry, have witnessed the signing of a memorandum of understanding between the Qatar Investment Promotion Agency (IPAQ) and the Malaysian Investment Development Authority (MIDA).
The signing ceremony took place on the sidelines of the second session of the Qatari-Malaysian Joint Trade Committee in Kuala Lumpur recently.
The MoU was signed by Sheikh Ali bin Alwaleed al-Thani, CEO, IPAQ, and Dato Azman Mahmud, CEO, MIDA.
The MoU aims to enhance mutual co-operation in generating investment crossflows between the two countries. The partnership includes information exchanges on economic and industrial development, as well as the organisation of joint promotional activities such as conferences and seminars that target investors.
Sheikh Ali said, “The newly formed Qatar Investment Promotion Agency looks forward to building on this agreement and enhancing co-operation and sharing of best practices. We believe that our strong relationship will enhance and support the expansion of both Malaysian and Qatari investments in our respective countries.”
Mahmud said, “The partnership between MIDA and IPAQ will strengthen the existing business relations between Malaysia and Qatar. Being a diversified economy with its competitive and comparative advantages, Malaysia provides many business opportunities for the Qatari investors to access the wider market in the Asean region. We aim to create new opportunities and catalyse business collaborations through a seamless facilitation channel that will contribute positively to the economic growth of the two countries.
“We are proud that many Malaysian companies such as Gamuda, UEM, Eversendai, Holiday Villa and Malaysia Airports have increasingly enlarged their footprint in Qatar. With the upcoming 2022 FIFA World Cup in Qatar, we trust that there will be more business opportunities that can be explored by Malaysian businessmen there.”
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