JOINT VENTURES Trade offering in Malaysia
(N ZPA Staff Correnpimdenti
KUANTAN (Malaysia), May 20.
Malaysia is keen to have New Zealand manufacturers as partners in joint ventures in the country’s industrial drive.
• Senior Malaysian officials have emphasised this to visiting New Zealand M.P.s, led by the .Speaker of the House of Representatives (Mr Whitehead).
The M.P.s were shown the Bukit Ibam project where a New Zealand Forester, Mr A. Restall, of Auckland, is helping the Malaysians launch a big timber mill on the site of a former iron-ore mine.
The Rotorua firm. Lockwood Buildings, Ltd, is going into a joint venture with the Pahang State Development Authority to build homes in Pahang for export to other Asian countries.
Pahang State has an estimated 2.17 m actes of virgin equatorial forest.
The government, which is channelling most of the State's resources towards industrialisation. offers.—
Investment tax credits whicn allow companies an
annual demeciation allowance of 40 per cent. Pioneer status which allow enterprises "tax holi- • days’* for between two
and five years. Protective duties and duty exemption on machinery and raw materia) imports. A free trade zone area where all goods going in and
out w>l) be exempt from taxes and duties. Among those taking part in talks with the M.P.s were two senior Malavsian State officials — Encik Ahmad Baba, Pahang's Director of Agriculture, who took nis degree at Lincoln, and Encik
[Che Ruslik, Director of Telecommunications, who graduated from Auckland University. DANGER SEEN
New Zealand’s trade commissioner m Kuala Lumpur vwr tiariand) oeiieves New Lealanu export firms will nave to consider more joint ventures witn Malaysians to retain a share of tne developing market.
Otner Aew Zealand firms in sucn ventures are Wix niters, aiw per cent New Zeaiand-canadian company, and an Auckland firm, Mason and Porter, wmch is making rotary hoes in Jahore Bahru.
New Zealand firms are considering a number of other joint ventures, but they are still well behind tne Australians who are in 22 such scnemes with the Malaysians, and have another seven planned.
Mr Harianu told the M.P.s that tne rapid development or industry in Malaysia, with tarnt protection, could endanger the expansion of New Zealand’s trade. HIGHER DUTY
An Australian boiler manufacturer, for example, was going into a joint venture with a Malaysian company, and this was likely to lead to an increase in duty on boilers. New Zealand boiler manufacturers have been developing a useful market in Malaysia. Malaysia was keen to get the benefit of New Zealand technical knowledge, and the size of New Zealand companies made them more compatible with the development of Malaysian industry. “This place is just wide open for expansion,” Mr Harland said.
JOINT VENTURES Trade offering in Malaysia
Press, Volume CXIII, Issue 33230, 21 May 1973, Page 2
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