12.05.2012, Jeddah, KSA - At the IDB Group – Malaysia Investment Forum that concluded in Kula Lumpur last Friday, Malaysian Prime Minister Dato' Sri Haji Mohammad Najib bin Tun Haji Abdul Razak, invited IDB Member Countries and the private sector to invest in his country and expressed his government’s readiness to cooperate with all investors particularly OIC member countries. During the opening address, Dr. Ahmad Mohamed Ali, President, IDB Group, stated that holding of the forum displays the
commitment of the IDB Group to assist Malaysia in advancing its economic and social development. He stated that IDB Group’s total financings for Malaysia have so far reached US$ 1.4 billion comprising participation in 117 projects and operations in the fields of infrastructure, education, power generation, farming and mines as well as financing for exports to and imports from the country. During the Forum, Dr Ali launched the Member Country Partnership Strategy (MCPS) for Malaysia, the
framework that provides an avenue for structured dialogue and priority setting with member countries and facilitates better alignment at the country level.
Four memoranda of understanding between the IDB Group entities and Malaysian institutes and the World Islamic Economic Forum Foundation (WIFE) were signed during the event.
The Forum brought together delegations from IDB Group Member Countries as well as more than 500 participants from Islamic and Arabic chambers of commerce, diplomats and investors from different IDB Group Member Countries as well as Non-IDB Group Member Countries including, China, South Korea and Russia.
The Forum mainly explored business partnership opportunities, engagement programs and institutional arrangements between Malaysia and member states from the Organization of Islamic Cooperation (OIC). It also leveraged on the opportunity of strengthening business partnership with Far Eastern economies to address the growing need of IDB member countries through Malaysia as a preferred gateway.