August 30, 2022
Maersk has signed a Memorandum of Understanding (MoU) with the Malaysian Investment Development Authority (MIDA) to drive high-quality investments into Malaysia as a regional logistics hub.
According to Maersk’s latest statement, the parties will cooperate to create better synergies and value-added services for customers and contribute to the growth and development of the supply chain sector in the Malaysian economy.
“Logistics is a cornerstone of Malaysia’s economy. By connecting suppliers to manufacturers, and consumers to businesses, we support the growth of various industries,” said Sivasuriyamoorthy Sundara Raja, DCEO, Investment Promotion and Facilitation of MIDA.
“I applaud Maersk for their continuous efforts in taking the lead on initiatives to uplift the logistics industry. The MOU with Maersk will bring in more targeted global investments into Malaysia through strategic and value-added engagement approach to multinational companies.
“By leveraging Maersk’s capabilities in integrated logistics, we can transform Malaysia into a regional logistics hub in ASEAN [Association of Southeast Asian Nations], further boosting infrastructure development and free trade.”
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The signatories said they will work together to attract high-tech and high impact investments in sectors including automotive, electrical and electronics (E&E), machinery and equipment, medical devices, aerospace, renewable energy, and consumer technology.
The two sides will also build a mutually beneficial ecosystem in focus markets to maximise Foreign Direct Investment opportunities into Malaysia.
“As our customers are reconfiguring their supply chains to make them more agile, resilient, and sustainable, Maersk is constantly growing our logistics footprints globally to support this transformation for our customers,” added Rupesh Jain, Managing Director of Maersk – Thailand, Malaysia and Singapore.
“With the ambition to provide truly integrated logistics to our customers, this collaboration with MIDA allows us to leverage our strengths and combine with Malaysia’s geographical advantage to mount solutions in the region.”
Maersk Malaysia commenced its operations in 1975.
The company employs more than 300 staff with representations in 12 locations throughout Malaysia and warehouse facilities in seven locations with a capacity of up to 68,000 square metres, with more expected to be added in the near future.
“This MOU is a strong testament, and we expect that through our cooperation with MIDA, we can help position Malaysia as an attractive investment destination for potential investors,” said Goh Hean Chun, Managing Director, Maersk Malaysia.
“The country’s geostrategic position has made it a natural hub. By further enhancing Maersk’s logistics strength, we will contribute towards the growth and development of Malaysian supply chain sector.”
Earlier this month, Maersk reached an agreement to acquire the Martin Bencher Group in a bid to extend its project logistics offer.
The move aims to bolster the carrier’s project logistics capabilities and develop an unparalleled integrated offering to serve existing and future customers, also within new industries.
Reference: https://www.porttechnology.org/news/maersk-signs-malaysia-logistics-hub-deal/