Kuala Lumpur: The reactivation of the Malaysia Indonesia Business Council (MIBC) emphasizes Malaysia’s commitment to strengthening its bilateral business relationship with Indonesia, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. The ministry expects MIBC’s collaboration with the Indonesia Malaysia Business Council (IMBC) to support both nations’ efforts in creating a conducive environment for trade and investment flows. This collaboration will pave the way for sustainable socio-economic growth and prosperity in both countries.
The relaunch of MIBC was witnessed by Tengku Zafrul and Indonesian ambassador to Malaysia Hermono, with Tan Sri Nazir Razak taking the position of its new chairman. The newly formed council includes representatives from prominent organizations such as Permodalan Nasional Bhd, Maybank, CIMB, Kuala Lumpur Kepong, AirAsia, and TheLorry.com, as well as individual members. Acting as MIBC’s secretariat is the National Chamber of Commerce and Industry Malaysia.
Established in 2002 through a memorandum of understanding between Malaysia and Indonesia, MIBC serves as a platform for the Malaysian private sector to address and resolve challenges related to economic cooperation between the two countries. Its primary objective is creating a positive business climate that supports existing businesses and attracts new economic opportunities between Malaysia and Indonesia.
MIBC’s Indonesian counterpart, the IMBC, is led by Pak Eko Putro Sandjojo, former Minister of Villages, Development of Disadvantaged Regions, and Transmigration in Indonesia. This renewed collaboration between MIBC and IMBC aims to foster closer economic ties and facilitate a mutually beneficial partnership.
Credit: The Star : Business Feed
