UAE firms reach out to ASEAN
Businesses from the United Arab Emirates show growing interest in investment opportunities in ASEAN countries, particularly Malaysia and Indonesia.
A delegation from the Sharjah Investment and Development Authority (Shurooq) has embarked on Sunday, September 2, on a weeklong tour of the Malaysian capital of Kuala Lumpur. Shurooq said it hopes to explore means of cooperation and develop economic relations with Malaysia whilst promoting the business potential of and investment attractions in the emirate of Sharjah.
“Malaysia is one of the most important and influential economic players in Asia and we are eager to showcase the vast range of opportunities available in Sharjah to investment authorities, economic institutions, companies and individuals in the country,” said Shurooq CEO Marwan Bin Jassim Al Sarkal.
In turn, Shurooq want to promote Sharjah as a strategic location between Europe and the Far East and as a key hub for manufacturing and industrial activities in the region, contributing 33 per cent to the UAE‘s total manufacturing sector, being a gateway for East Asian countries to the Middle East, Europe and Africa.
Investment from Ras Al Khaimah
In another development, Indonesia’s head of the State Investment Coordinating Board, Chatib Basri, has reconfirmed the plans of UAE-based RAK Minerals to invest into an aluminim smelter and a coal processing plant in Kalimantan together with India’s National Aluminium Company (Nalco).
Both companies in a joint venture are planning to invest $3 billion to build an aluminum smelter, along with a coal terminal, a steam power plant and a railway station to be finished by 2014. Nalco will oversee the development of the smelter, which will boast an annual capacity of 500,000 tonnes, while the other projects will be undertaken by RAK Minerals.
Malabar Gold eyes ASEAN markets
Another investment project is being undertaken by Malabar Gold, an Indian jewelry retailer with its main business presence abroad in the GCC.
The company, which entered the Middle East market in 2007 and is operating 25 stores there, has said it wants to establish new stores in Singapore, Malaysia, Indonesia and Hongkong and is also trying to enter China.
[caption id="attachment_4423" align="alignleft" width="240"] Shurooq CEO Marwan Bin Jassim Al Sarkal is exploring business opportunities in Malaysia[/caption] Businesses from the United Arab Emirates show growing interest in investment opportunities in ASEAN countries, particularly Malaysia and Indonesia. A delegation from the Sharjah Investment and Development Authority (Shurooq) has embarked on Sunday, September 2, on a weeklong tour of the Malaysian capital of Kuala Lumpur. Shurooq said it hopes to explore means of cooperation and develop economic relations with Malaysia whilst promoting the business potential of and investment attractions in the emirate of Sharjah. "Malaysia is one of the most important and...
Businesses from the United Arab Emirates show growing interest in investment opportunities in ASEAN countries, particularly Malaysia and Indonesia.
A delegation from the Sharjah Investment and Development Authority (Shurooq) has embarked on Sunday, September 2, on a weeklong tour of the Malaysian capital of Kuala Lumpur. Shurooq said it hopes to explore means of cooperation and develop economic relations with Malaysia whilst promoting the business potential of and investment attractions in the emirate of Sharjah.
“Malaysia is one of the most important and influential economic players in Asia and we are eager to showcase the vast range of opportunities available in Sharjah to investment authorities, economic institutions, companies and individuals in the country,” said Shurooq CEO Marwan Bin Jassim Al Sarkal.
In turn, Shurooq want to promote Sharjah as a strategic location between Europe and the Far East and as a key hub for manufacturing and industrial activities in the region, contributing 33 per cent to the UAE‘s total manufacturing sector, being a gateway for East Asian countries to the Middle East, Europe and Africa.
Investment from Ras Al Khaimah
In another development, Indonesia’s head of the State Investment Coordinating Board, Chatib Basri, has reconfirmed the plans of UAE-based RAK Minerals to invest into an aluminim smelter and a coal processing plant in Kalimantan together with India’s National Aluminium Company (Nalco).
Both companies in a joint venture are planning to invest $3 billion to build an aluminum smelter, along with a coal terminal, a steam power plant and a railway station to be finished by 2014. Nalco will oversee the development of the smelter, which will boast an annual capacity of 500,000 tonnes, while the other projects will be undertaken by RAK Minerals.
Malabar Gold eyes ASEAN markets
Another investment project is being undertaken by Malabar Gold, an Indian jewelry retailer with its main business presence abroad in the GCC.
The company, which entered the Middle East market in 2007 and is operating 25 stores there, has said it wants to establish new stores in Singapore, Malaysia, Indonesia and Hongkong and is also trying to enter China.
