August 5, 2009 at 4:50 pm

Malaysia will invite Brunei to check out investment opportunities in Johor’s Iskandar Malaysia following discussions on various key areas at the 13th Annual Malaysia-Brunei Conference starting here today.

Malaysia’s High Commissioner to Brunei, Datuk Ku Jaafar Ku Shaari said both countries are scheduled to sign a Double Taxation Agreement (DTA) at the Istana Nurul Iman tomorrow after a four-eyed meeting between Prime Minister Datuk Seri Najib Tun Razak and the Sultan of Brunei, Sultan Hassanal Bolkiah.

“Arising from the discussion, we might be able to formulate a specific package which can benefit both countries and be a means of encouraging investments into Iskandar Malaysia,” he told a media conference here Tuesday.

The Minister of International Trade and Industry, Datuk Mustapa Mohamed is expected to sign the DTA on behalf of Malaysia.

The DTA is an agreement by both countries to avoid double taxation, in line with efforts to create a condusive two-way investment climate.

Ku Jaafar said the big Malaysian delegation to be led by Najib, includes eight Ministers, apart from the Chief Minister of Sarawak Tan Sri Abdul Taib Mahmud as well as Sabah’s Chief Minister Datuk Seri Musa Aman.

Apart from Mustapa, the other ministers’s are Foreign Minister Datuk Anifah Aman,Transport Minister Datuk Seri Ong Tee Keat, the Minister of Information, Communications and Culture Datuk Seri Dr Rais Yatim, the Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop, Health Minister Datuk Seri Liow Tiong Lai, Domestic Trade, Cooperative and Consumerism Minister Datuk Ismail Sabri Yaakob and Tourism Minister Datuk Seri Dr Ng Yen Yen.

“Among the issues to be the focus of the two-way discussions is economic cooperation, related to trade, investments and Islamic banking, apart from Asean and the Commonwealth,” said Ku Jaafar.

He also said other areas which will form the agenda are defence, health, transport and the halal hub, as well as eco-tourism and a steady power supply to Sarawak and Sabah, which neighbour Brunei.

Source: Bernama