Kuala Lumpur (VNA) – Several Austrian companieshave expressed interest in making investment in Malaysia due to its strategic position asa gateway to the Asia Pacific region, according to the Malaysian Ministry ofInternational Trade and Industry (MITI).
In a statement on July 9, the ministry said that SeniorMinister-cum-International Trade and Industry Minister Mohamed Azmin Ali hadmet his Austrian counterpart, Federal Minister for Digital and Economic AffairsMargarete Schramböck in Vienna to explore growth areas for bilateral trade andinvestment.
MITI said an Establishment of Focal Points was signed onJuly 8, where elected senior officials would have direct dialogues and exchangeof ideas to further expand trade and investment opportunities, as well as tointensify economic cooperation.
As Malaysia is focusing on environmental, social andgovernance issues, MITI said Azmin also assured Schramböck that Malaysia wouldfacilitate investment by Austrian companies renowned for placing clean energy atthe forefront of their products and services.
Azmin had visited the headquarters of Austria Technologie& Systemtechnik AG (AT&S) in Loeben, and a Memorandum of Understanding(MoU) was signed between MITI and AT&S focusing on cooperation in teachingand training in production, as well as research on high-end technologies.
MITI said Azmin also had a roundtable discussion with theAustrian Federal Economic Chambers (WKO), in which the Senior Ministerconcurred that there was an urgent need to intensify strategic engagements ofbusiness-to-business cooperation, particularly in industries such as smart manufacturing,artificial intelligence, aerospace industry, medical devices, and renewableenergy.
According to MITI, Malaysia’s total trade with Austriasurged 32.2 percent to 1.31 billion ringgit (310 million USD) in the first fivemonths of this year despite the COVID-19 pandemic./.
In a statement on July 9, the ministry said that SeniorMinister-cum-International Trade and Industry Minister Mohamed Azmin Ali hadmet his Austrian counterpart, Federal Minister for Digital and Economic AffairsMargarete Schramböck in Vienna to explore growth areas for bilateral trade andinvestment.
MITI said an Establishment of Focal Points was signed onJuly 8, where elected senior officials would have direct dialogues and exchangeof ideas to further expand trade and investment opportunities, as well as tointensify economic cooperation.
As Malaysia is focusing on environmental, social andgovernance issues, MITI said Azmin also assured Schramböck that Malaysia wouldfacilitate investment by Austrian companies renowned for placing clean energy atthe forefront of their products and services.
Azmin had visited the headquarters of Austria Technologie& Systemtechnik AG (AT&S) in Loeben, and a Memorandum of Understanding(MoU) was signed between MITI and AT&S focusing on cooperation in teachingand training in production, as well as research on high-end technologies.
MITI said Azmin also had a roundtable discussion with theAustrian Federal Economic Chambers (WKO), in which the Senior Ministerconcurred that there was an urgent need to intensify strategic engagements ofbusiness-to-business cooperation, particularly in industries such as smart manufacturing,artificial intelligence, aerospace industry, medical devices, and renewableenergy.
According to MITI, Malaysia’s total trade with Austriasurged 32.2 percent to 1.31 billion ringgit (310 million USD) in the first fivemonths of this year despite the COVID-19 pandemic./.
VNA
