India & Malaysia to work on tapping infrastructure

Last Updated: Friday, November 11, 2011 - 15:47

Chennai: India and Malaysia should work
closely on utilising the potential of infrastructure
opportunities in their respective countries, a Malaysian envoy
said on friday.

"Infrastructure is the lifeline in all business activities
and it could translate economic cycles into many folds of
spiral effect. India and Malaysia must work hand-in-hand
through creative financial packages to realise the acutal
potential of vast infrastructure opportunity." Malaysia`s
Special Envoy to India and South Asia on infrastructure, Dato
Seri S Samy Vellu said.

Stating that infrastructure was the lifeline of all
business activities in developed nations, he said, "in the
recent global financial crisis and economic downturn,
infrastructure plays an important role to counter balance
against slowing economic activity and lower consumption".

Participating in a seminar on South India Infrastructure
Investment Summit 2011 organised by CII here, he said, “India’s
infrastructure requirement is real and acts as a double sided
sword; as an economic driver and a mechanism to attain
supremacy".

He said the time was now right for making Malaysia as a
centre for sourcing long-term debts for meeting part of
India`s infrastructure financing needs. "This will also deepen
the Malaysian markets, expand businesses and offer an
alternative investment opportunity", he said.

He said over the last five years, Malaysia increased its
interest in India by signing a comprehensive economic
cooperation agreement for goods and services, making both
markets accessible for their businesses.

PTI



First Published: Friday, November 11, 2011 - 15:47

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