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Germany's Saxony-anhalt Invites M'sian Investors Into Medical Technology Sector

[ 29-02-2016 ]
Germany's Saxony-anhalt Invites M'sian Investors Into Medical Technology Sector
KUALA LUMPUR, Feb 28 (Bernama) -- The German state of Saxony-Anhalt is inviting Malaysian investors and healthcare firms, particularly small and medium enterprises (SMEs), to invest in its medical technology sector.

Oliver Kohn, Head of Business Development of Investment and Marketing Corporation Saxony-Anhalt, said the state, which has 2.3 million inhabitants and is located in the heart of Germany and the centre of Europe, provides access to the vast European single market of over 500 million people.

"Saxony-Anhalt is home to 75 medical technology companies with about 2,700 employees who work closely with the local and international firms considered crucial for Malaysian companies.

"We believe it will provide a good framework for Malaysian firms and investors as well as SMEs to position themselves here," he told Bernama on the sidelines of the "Check-In For Success Conference."

The corporation is the state's economic development agency, and is closely linked to the Ministry of Science and Technology.

Kohn said while Germany is the largest market for medical technology in Europe, the industry in Saxony-Anhalt is regarded as still young and developing, and over the last couple of years has grown enormously.

"We believe that the industry is also seen as very significant in Malaysia as a lot of companies here are very active in this field.

"We see a lot of potential for German companies to do business here in Malaysia, but our focus is to create new investments in Germany, and this will be a good chance for Malaysian companies as it will be a stepping stone for them to other international markets," he added.

Birgit Heine, the corporation's Senior Manager, said attractive incentives are available for potential investors in the state.

"For investments, these include material costs up to 35 per cent or labour costs up to 15 per cent plus five per cent for SMEs with research and development activities.

"As for the staff, the state of Saxony-Anhalt provides free, tailor-made training before recruitment, practice-based qualification at the workplace and is willing to provide innovation assistance for SMEs," added Heine.

She also said for public financial assistance, SMEs are given up to 80 per cent guarantee on investment loans.

Malaysian-German Chamber of Commerce and Industry General Manager Thomas Brandt said although the big multinational companies have the resources to explore investment opportunities in medical technology in Saxony-Anhalt, the state is willing to provide SMEs any possible assistance to tap opportunities there.

"We have a lot of Germans coming here but we see fewer Malaysians going there. There are immense opportunities in the medical area in Germany, such as medical glass and medical instruments, for Malaysians to tap," said Brandt.

Brandt explained that Saxony-Anhalt provides a complete network for Malaysian companies to settle and successfully set up their medical technology companies there.

A delegation from the corporation was in Singapore two days before coming to Kuala Lumpur to woo investors into Germany's medical techonology sector.

More than 350 international companies have settled down in Saxony-Anhalt, creating more than 19,000 new jobs as well as investing more than 5.5 billion euros.

For further details about investing in the German state, visit www.invest-in-saxony-anhalt.com or contact +49-39156899-32.

-- BERNAMA