Malaysian investment seminar in Seoul “Big Success” – Selangor to encourage networking among Korean businessmen
A Malaysian investment mission led by The Right Hon.Mohamed Azmin Ali has successfully wrapped up its investment seminar in Seoul on May 28 held at Seoul Plaza Hotel in downtown Seoul joined by more than 80 plus Korean businessmen and media representatives.
During the ‘seminar on Investment Opportunities in Malaysia organized by MIDA, Korean participants from local business community were well informed with updated investment climate in Malaysia focused on the state of Selangor which is emerging as a major gateway to Malaysia as well as ASEAN markets thanks to its strategic location nearby Kuala Lumpur and Putrajaya.
Also on hand at the event organized by MIDA were Malaysian Ambassador to Korea Dato’ Rohana Ramli , Mr. Mahmud bin Abbas, CEO of Central Spectrum Sdn. Bhd, a well-established property developer renowned for its success in developing Pulau Indah and Dato’ Bryce Kwon, CEO of Technomax International Sdn. Bhd, a Korean expatriate in Malaysia who has been doing his successful business activities there for the past 30 years.
The objectives of the Seoul event were to foster closer relationships between would-be Korean investors and the Selangor State Government by offering an opportunity to share experience, exchange views and to encourage networking among Korean businessmen and Selangor State Government agencies. During the seminar ,The Right Hon. Mr. Mohamed Azmin Bin Ali, Chief Minister of Selangor delivered a key note speech.
He recommended potential investors from Korea to make investments in the areas of the pharmaceutical industry, life sciences and green technology as well as to promote the industrial areas available in Selangor before too late introducing various incentives being prepared by his state government for the benefits of foreign investors.
Approximately, 70 plus potential investors attended this seminar were able to get first hand information on business opportunities in Selangor. Several potential investors have shown great interest to advance business relationships in future in the areas of Halal in particular..
The Right Hon. Chief Minister of Selangor invited Korean business leaders to to increase investments in Selangor as well as to visit new industrial areas that can be developed for the company’s operations in the future.
In the meantime, Mr. Mahmud bin Abbas, CEO of Central Spectrum Sdn.Bhd said that he takes pride in the quality and excellence of the value-added services his company provides for investors.
“Aiming to be a fully integrated one-stop centre for Halal products, we have introduced a Halal Eco-system that allows the smooth establishment of operations and reduce waiting period, ensuring a hassle-free procedure and practice in the setting-up of your business here,” he said.
Selangor Halal Hub, Pulau Indah will assist in receiving, processing and expediting the approvals to obtain global Halal Status from relevant authorities such as the Department of Islamic Development Malaysia (JAKIM), Selangor Islamic Religious Department (JAIS) and the national standards development agency, SIRIM.
“We will also assist in the implementation of Good Manufacturing Practices (GMP), veterinary inspection, Hazard Analysis and Critical Control Pointsn(HACCP),” he said..
Selangor Halal Hub, Pulau Indah will also assist by processing and expediting approvals from relevant authorities such as the Klang Land Office, Malaysian Fire and Rescue Department, Ministry of Works, Telekom Malaysia (TM), Tenaga Nasional Berhad (TNB) and Selangor Water Works (SYABAS) for smooth arrangements and physical set-up of your factory building.
A wide range of halal dining establishments are available in your vicinity; offering a variety of gastronomic delights to satisfy your taste buds, he added.
Malaysia has developed the Halal Certification; a total quality health and sanitary system that involves adopting various procedures for slaughtering, processing and other related operations as prescribed by Islamic laws. It certifies raw materials, ingredients and products based on quality, sanitary and safety considerations.
In addition, to meet the Halal requirement, food producers are encouraged to adapt and maintain standards that meet global benchmarks such as ISO9000, Codex Alimentarius, QA, HACCP, Good Hygienic Practice (GHP), and SOPs.
“We are a HALMAS certified Halal Park Operator, therefore investors establishing manufacturing firms here in Selangor Halal Hub, Pulau Indah are eligible for special tax incentives,” he explained.
Special Tax Incentives provided by the Halal Development Corporation are 100% income tax exemption on qualifying capital expenditure for a period of 10 years or income tax exemption on export sales for a period of 5 years*
Exemption from import duty and sales tax on raw materials used for the development and production of halal promoted products*
Double deduction on expenses incurred in obtaining international quality standards such as HACCP, GMP, Codex Alimentarius (food standard guidelines of FAO and WHO), Sanitation Standard Operating Procedures and regulations for compliance for export markets such as Food and Traceability from farm to fork.*