Chennai: Malaysian Prime Minister Najib Razak asked investors from India to take advantage of the business opportunities offered by his country.
Najib, who began his six-day visit to India on Thursday, met the captains of industry at a roundtable business meet here.
In his address, Najib “urged investors to take advantage of the business opportunities offered by Malaysia as we aim to intensify and elevate our strategic partnership to greater heights,” the Malaysian PMO said in its official Facebook page about the interaction.
Najib said that Indian investors could take advantage of Malaysia’s strategic location to further consolidate their position in the south East Asian region.
Malaysia, the Prime Minister said, remained a favoured destination for foreign investment.
Najib said his country’s diversified economy and strong infrastructure, besides good connectivity, provided vast potential for further strengthening economic ties between India and Malaysia.
He urged the Indian industry to capitalise on the “wealth of opportunities” offered by Malaysia.
Malaysia has introduced the Principle Hub scheme, that seeks to encourage international firms to better allocate resources, he said.
The round table discussion was organised by the Malaysian Associated Indian Chamber of Commerce and Industry.
Bilateral trade between India and Malaysia stood at USD 16.93 bn in 2014-15, according to official estimates.
The main imports from Malaysia include palm oil and palm-based products, electrical and electronic products, crude petroleum, metal and chemical products.
India exports petroleum, agricultural, metal, chemical products, machinery and equipments among other items to the South East Asian Nation. (PTI)