A.P. Moller-Maersk (Maersk) has signed a Memorandum of Understanding (MOU) with the Malaysian Investment Development Authority (MIDA), to drive high-quality investments into Malaysia as one of the logistics hubs in ASEAN, creating better synergies and value-added services for customers, and contributing 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 August 29 at MIDA Headquarters in Kuala Lumpur.
Sivasuriyamoorthy Sundara Raja, DCEO, Investment Promotion and Facilitation of MIDA, said: “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.”
Both parties will work together to attract high-tech and high impact investments in sectors including automotive, electrical and electronics (E&E), machinery and equipment, medical devices, aerospace, renewable energy, and consumer technology. Meanwhile, the two sides will build a mutually beneficial eco-system in focus markets to maximize FDI opportunities into Malaysia.
Rupesh Jain, Managing Director of Maersk – Thailand, Malaysia and Singapore, said: “As our customers are reconfiguring their supply chains to make them more agile, resilient & 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.”
Photo credit: iStock/ jamesteohart