MALAYSIA is aiming for some US$500 million (RM1.7 billion) foreign investments in an international halal park that will be developed in Selangor.
Government-owned MIHAP Holdings Sdn Bhd is trying to rope in China's National Investment Management Ltd (NIML) for the project.
The firms signed a memorandum of understanding (MOU) recently, witnessed by Prime Minister Datuk Seri Abdullah Ahmad Badawi, NIML said in a statement.
Under the deal, NIML will develop a halal franchising centre at the park and expects to generate 100,000 visitors per year from abroad.
NIML will also provide franchise management, in line with its current activities in the Shanghai Global Brand Franchise Centre, and halal global brand development.
"We expect new investments and business relocation from China to be in the halal food manufacturing, production of the halal pharmaceuticals and the halal biohealth food industry," said MIHAP adviser Datuk Ibrahim Ahmad.
NIML managing director Eros Lai said China has a Muslim population of over 30 million and they are ready for global markets.
"Our local partner (MIHAP) will assist us in the foreign direct investment process and audit certification, while our role is to bring in capital investments and players to build on the success of MIHAP.
"We are excited about this National Project under the Private Finance Initiative announced by the government last year," he added.-www.btimes.com.my
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