Putrajaya, 21st July 2016- At the recent ASEAN- India Business Conclave 2016 (AIBC 2016), a number of companies across Malaysia, including Sumwin Solutions Malaysia, signed Memorandums of Understanding (MoUs) with the Andhra Pradesh Government. This event was coordinated by PEMANDU of Malaysia and the Vision Management Unit of the Andhra Pradesh Planning Department, as part of Sunrise Andhra Pradesh Vision 2029 and organized by the ASEAN India Business Council Secretariat.
These MoUs were carried out to initiate investments into 7 key sectors within Andhra Pradesh; specifically, Renewable Energy, Biodiesel, the Food and Beverage Industry, Retail, Water and Sewerage, Water Treatment Plan, and Biotechnology and Vector Control. These sectors are especially relevant to Sumwin and its business profile. According to the Media Statement released by PEMANDU, it has been estimated that these MoUs will promote around $3.5 billion worth of investment and generate over 8,000 jobs to the people of Andhra Pradesh.
This event was especially enriching for Sumwin as it looked towards addressing the themes related to Small to Medium sized Enterprises (SMEs) in India. Being an SME, this event also provided SUMWIN with great exposure to both government bodies and other businesses. We look forward to building our relationship with the Andhra Pradesh government by putting our insights to work and developing solutions that will promote economic relations between Malaysia and India and be an overall win for all.
PRESS NOTE – Malaysia- ASEAN India Business Leadership Conclave 21-2-016
The Association of South East Asian Nations (ASEAN) – India Business Leadership conclave was held at Kuala Lumpur on 21st July 2016. A delegation from Andhra Pradesh led by Mr. Kinjarapu Atchannaidu, Minister of Labour and Employment, Government of Andhra Pradesh attended the conclave along with Mr. J. Krishna Kishore, CEO, Andhra Pradesh Economic Development Board and Mr. R. Karikal Valaven, Principal Secretary, Ministry of Urban Development, Government of Andhra Pradesh. The conference was addressed by his Excellency Mr. Mustapa Mohamed, Minister for International Trade and Industry along with Shri K. Atchannaidu and other dignitaries and Businessmen.
An invitation was extended to Malaysian Business persons to invest in the state of Andhra Pradesh and advantages of the state in providing excellent infrastructure incentives, ease of doing business and other important aspects were explained in detail by Shri K Atchannaidu.
Giving the key note address, his Excellency Mr. Mustapa Mohamed has suggested that a strong mechanism should be developed between Andhra Pradesh Economic Development Board and performance management and delivery unit (PEMANDU), office of Prime Minister, Malaysia to promote active trade, industry and business between Malaysia and Andhra Pradesh. He invited APEDB to set up an office in Malaysia for this purpose. He complimented Hon’ble Chief Minister, Shri Nara Chandrababu Naidu for the outstanding work being done in the state of Andhra Pradesh including achieving an highly impressive growth rate of 10.99%. He has assured that Malaysian government will take necessary steps for close cooperation with Andhra Pradesh.
The meeting was attended by High Commissioner of India to Malaysia Mr.T.S. Tirumurti, Mr. Ravindran Devagunam, Director, PEMANDU and several other important personalities.
During the meeting seven Memorandum of Understanding’s were signed by various important organisations in Malaysia, committing an investment of over Rs.23,000 crores (over 3 billion USD), which will create a direct employment for more than 10,000 people in the state of Andhra Pradesh.
The MOU’s were signed by Mr. J Krishna Kishore, CEO of Andhra Pradesh Economic Development on behalf of Government of Andhra Pradesh and by the Chairman/CEO’s of the concerned organisations.
The brief details of MOU are given below. Summary of MOU’s between Andhra Pradesh Economic Development Board and Malaysian Companies.
With the Malaysian Biodiesel Association (MBA), the MBA through its member companies and interested joint venture partners intends to invest up to $1 billion (Rs. 6713 crore) in palm related biodiesel projects in Andhra Pradesh and thereby create 5000 direct jobs and much more in auxiliary industries.
Renewable Energy: Antah Strategic Services Sdn Bhd wishes to invest an initial investment of $25 million (Rs. 167.50 crore) in Andhra Pradesh.
Water Treatment Plant: Protasco Sdn Bhd and KOP Mantap Sdn Bhd wish to jointly invest and develop a Water Treatment Plant involving an investment of $500 million (Rs. 3360 crore) in Andhra Pradesh.
Water & Sewerage Plant: Highgard Sdn Bhd and China 1st Metallurgical Construction Sdn Bhd wishes to jointly invest and develop a Water and Sewerage Plant involving an investment of $1 billion (Rs. 6720 crore) in Andhra Pradesh.
Integrated Retail & Housing: Highgard Sdn Bhd and China 1st Metallurgical Construction Sdn Bhd wishes to jointly invest and develop an Integrated Retail and Housing project involving an investment of $400 – $500 million (between Rs. 2688 crore to Rs. 3360 crore) in Andhra Pradesh.
Food & Beverage: Sumwin Solutions Malaysia Sdn Bhd wishes to invest between $1.5 million to $7.5 million (Rs. 10 crores to 50 crores) in phases into Food and Beverages Projects in Andhra Pradesh. This is expected to generate approximately 1000 new jobs directly and contribute to indirect employment in the state.
Biotechnology: EntoGenex Industries Sdn Bhd wishes to commit direct investment to Andhra Pradesh in the fields of Biotechnology and Vector Control involving an investment of $5 million to $10 million (between Rs. 33.5 crore to Rs. 67 crore)