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Friday, August 03, 2007

Malaysian Chamber of Commerce urges Malaysian investors to explore business opportunities in Solomon Islands

The Malay Chamber of Commerce has urged Malaysian investors to explore business opportunities in Solomon Islands in view of the close relationship between the two countries.

In making the call, its vice president Yussof Mohammad said that agriculture and fisheries were among the sectors being aggressively promoted in Solomon Islands.

In addition, the country has also listed timber and plantations as potential sectors, especially for Bumiputera entrepreneurs, Mr Mohammad said on Wednesday this week.

Yussof said the Malaysian government has been supportive towards the progress of Bumiputera entrepreneurs in investing abroad.

"South Africa is among the countries which local entrepreneurs have been focussing on and they have been successful in their ventures," he said.

"Solomon Islands is another interesting place for Bumiputera entrepreneurs to consider investing," he added.

Yussof and a few Malay Chamber of Commerce members were in Solomon Islands recently to explore business opportunities.

Tan Sri Marine product Ltd, a wholly owned Bumiputera Company, has been set up in Solomon Islands dealing mainly in the fisheries sector.

The company's main business at the moment is exporting tuna fish to China and Australia, and it is also looking at other countries within the Brunei, Indonesia, Malaysia, and the Philippines-East Asian Growth Area (BIMP-EAGA).

Yussof, who is also the executive chairman of Labuan Liberty Port Management Sdn Bhd, said as a country with half of the world's tuna stock, Solomon Islands was willing to assist invetsors to venture into the industry.

He said this was in line with the Solomon Islands government plan to substitute forestry with fisheries.

With its 980 islands, Solomon Islands aims to be the world's leading tuna producer.

Source: Bernama

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