Recalling his visits to Malaysia in July 2010 and February 2011, Shri Sharma said that he had sought investment from Khazanah Nasional Berhad (Government of Malaysia's strategic investment fund) into Indian infrastructure sector through a collaborative venture with IDFC. Shri Sharma informed that a SPV has been created between Khazanah and a subsidiary of IDFC with an equity base of Rs. 830 crores for financing the national highway construction projects.
The Minister said that during his visits, he identified priority sectors of engagement including Roads & highways, Railways, Airports, IT &ITES, Biotechnology, Tourism, Health Services and JV projects in third countries. Subsequently, the two countries have entered into a Comprehensive Economic Cooperation Agreement which was signed in February 2011. The signing of this Agreement has provided considerable momentum to trade and investment on both sides.
Members and the Minister also expressed happiness on the robust investment front. Malaysian investment in India stands at US$ 7.8 billion while Indian investments in Malaysia are in the range of USD 3 billion. Indian investments in Malaysia are growing steadily. At present, there are more than 100 Indian companies including 61 Indian joint ventures operating in Malaysia. In the past three years alone, about USD 2 billion have been invested by our companies making it the 7th largest investor in Malaysia.
The India Malaysia CEO forum is co-chaired by Shri Malvinder Mohan Singh from India and Mr Tan Sri Krishnan Tan Boon Seng from Malaysia.
