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FINANCIAL NEWS
Malaysia to attract 700m ME investments
07 Feb 2011
(MENAFN) The CEO of East Coast Economic Region (ECER) Development Council CEO, Dato Jebasingam Issace, said that Malaysia is expecting investments worth around $700 million from Middle East countries in the Malay eastern region, reported Gulf News.
The CEO said that the council aspires to bring in about $1.64 billion of investments to ECER Malaysia each year, of which $654 million are expected to come from Gulf Cooperation Council (GCC).
Issace said that Middle East investments are predicted to be in halal food, tourism and agriculture, especially livestock and fisheries.
Issace said that ECER Malaysia began operating in 2008 by a parliamentary act to do development projects in the states of Kelantan, Terengganu, Pahang and the district of Mersing in Johor.
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