MBC urged to form consortium in Saudi Arabia

The Malaysian Business Council (MBC) in Saudi Arabia has proposed the setting up of a consortium to ease the entry of Malaysian companies into the kingdom.

Vice Chairman Datuk Dr Azmi Omar said based on the council's observations, Malaysian companies can do well here with their good reputation.

"We discussed with Matrade how to go about bringing Malaysian companies here. This is a proposal, and we hope the government will look into it," he told Bernama after presenting MBC's plans and progress to Chief Secretary to the Government Datuk Seri Dr Ali Hamsa, who is on a four-day working visit to Saudi Arabia.

Azmi said Saudi Arabia is now going into a lot of infrastructure projects with no funding problems.

"They are into development of education, the oil and gas sector and so on, so there are a lot of business opportunities here," he said.

MBC, set up in 2009, has five executive committee members and 15 counsellors in financial services, property development, construction, trading and other services.

Azmi said MBC could facilitate Malaysians' business dealings in the kingdom, which offers different challenges from those in other Gulf Cooperation Council (GCC) countries.

He said MBC will work closely with Matrade and the Jeddah Consul-General, including by having monthly meetings.

"Before this we didn't have such a council and many companies from Malaysia come on their own, whereas Korean and Chinese companies come here as part of a consortium created by their respective government.

"If Malaysian businesses come here as part of a consortium under the government's umbrella, their opportunities would be better," he added.