The Malaysian Investment Development Authority (MIDA) signed a Memorandum of Understanding (MoU) with the Korea Trade-Investment Promotion Agency (KOTRA) today, in conjunction with the visit of President of the Republic of Korea Moon Jae-In to Malaysia this week.
The partnership includes information exchanges on investment environment, opportunities, and promotion activities, as well as best practices of investment promotion.
“MIDA has been working together with KOTRA for a long time. Every year we organise investment missions to South Korea where there will be seminars, roundtable meetings, and one-on-one sessions with Korean investors, to promote business opportunities in Malaysia as well as to provide updates on the latest policies and economic landscape.
“KOTRA has always been one of our supporting organisations. So, we are excited to seal this strong cooperative relationship in investment promotion,” MIDA chief executive officer, Datuk Azman Mahmud.
He revealed that MIDA trust that through this partnership, they will be able to leverage on KOTRA’s establishments in ten regional headquarters, and 124 overseas centres in 86 countries.
“With this, we will also be able to provide more rewarding connections for both our business communities.
“As Korea is well known for its advanced technologies particularly on robotics, we hope to get more of such investments in these areas, particularly as Malaysia is going full speed into the knowledge and digital economy,” added Azman.
MIDA in collaboration with the Korea Chamber of Commerce and Industry (KCCI) will be organising the Malaysia-Korea Business Forum at the Mandarin Oriental Hotel Kuala Lumpur on 14 March 2019.
The event is expected to gather 400 participants, which will mostly be Korean businessmen.
The President of the Republic of Korea and the Minister of International Trade and Industry Malaysia will grace the event and KOTRA is one of the supporting organisations for this event.