This article first appeared in The Edge Financial Daily on January 17, 2020

KUALA LUMPUR: The Malaysian Investment Development Authority (Mida) has approved RM3.1 billion in projects with the European Union (EU)’s participation between January and September 2019.

In a statement, Mida said it had approved a total of 34 manufacturing projects with EU participation, and that these projects are expected to create 2,782 job opportunities.

As of September 2019, the agency has approved 2,366 manufacturing projects with EU country participation worth RM131.4 billion — with these projects creating 271,712 job opportunities.

“Major European companies that have operations in Malaysia include ST Microelectronics, Infineon, Acerinox, Saint Gobain, Dyson Manufacturing, Novartis, Osram Opto Semiconductors, Aker Solution, and B Braun Medical,” explained Mida.

It also hosted a networking event with EU chambers, associations and embassies on Tuesday with 40 representatives from Austria, Belgium, Czech Republic, France, Italy, Ireland, Germany, Norway, UK, the Netherlands, Russia, Sweden, Switzerland and Spain in attendance.

Mida chief executive officer Datuk Azman Mahmud hailed the reception as a success, and said the next networking event will be organised soon with the chambers and associations from the Americas, Oceania and the Asia Pacific region.