Maersk signs MoU with MIDA to drive investments into Malaysia

Both parties will work together to attract high-tech and high impact investments in various sectors. The two sides will also build a mutually beneficial eco-system in focus markets to maximise FDI opportunities into Malaysia, both companies said in a joint media release.

A.P. Moller-Maersk (Maersk) has signed an MoU with the Malaysian Investment Development Authority (MIDA), to drive investments into Malaysia as one of the logistics hubs in ASEAN. It will help create better synergies and value-added services for customers and contribute to the growth and development of the supply chain sector in the Malaysian economy.

The MoU has been signed by Sivasuriyamoorthy Sundara Raja, deputy chief executive officer (DCEO), investment promotion and facilitation of MIDA and Rupesh Jain, managing director of Maersk – Thailand, Malaysia and Singapore at MIDA headquarters in Kuala Lumpur.

“Logistics is a cornerstone of Malaysia’s economy. By connecting suppliers to manufacturers, and consumers to businesses, we support the growth of various industries. I applaud Maersk for their continuous efforts in taking the lead on initiatives to uplift the logistics industry. The MoU with Maersk will bring in more targeted global investments into Malaysia through strategic and value-added engagement approach to multinational companies. By leveraging Maersk’s capabilities in integrated logistics, we can transform Malaysia into a regional logistics hub in ASEAN, further boosting infrastructure development and free trade,” said Raja.

“As our customers are reconfiguring their supply chains to make them more agile, resilient and sustainable, Maersk is constantly growing our logistics footprints globally to support this transformation for our customers. With the ambition to provide truly integrated logistics to our customers, this collaboration with MIDA allows us to leverage our strengths and combine with Malaysia’s geographical advantage to mount solutions in the region,” said Jain.

“One of Maersk’s key focuses has been creating value to our customers in the geographies that we operate in. This MoU is a strong testament, and we expect that through our cooperation with MIDA, we can help position Malaysia as an attractive investment destination for potential investors. The country’s geostrategic position has made it a natural hub. By further enhancing Maersk’s logistics strength, we will contribute towards the growth and development of Malaysian supply chain sector,” said Goh Hean Chun, managing director, Maersk Malaysia.

Maersk Malaysia commenced its operations in 1975. Today, Maersk employs more than 300 staff with representations in 12 locations throughout Malaysia and warehouse facilities in seven locations with a capacity of up to 68,000 square metres. More locations and capacity are expected to be added in the future.

Fibre2Fashion News Desk (KD)