Spanish companies eye SCORE

We have identified several firms keen to forge business relationship with Sarawak: Embassy official

KUCHING: Companies in Spain are showing interest to invest in energy intensive industries in the Sarawak Corridor of Renewable Energy (SCORE).

Economic and commercial counsellor of the Embassy of Spain in Malaysia, Antonio Garcia, said yesterday that the embassy had identified several companies keen to forge business relationship with Sarawak.

“Some are now carrying out the feasibility studies and comparing Sarawak with other states in the country in order to assess the possibility of investing in them,” he pointed out.

He was quick to point out that the companies were just exploring the possibilities and that there was no definite decision or concrete project in the pipeline as yet.

He pointed out that the introduction of the corridor as well as the state’s dedication in the field of renewable energy was ‘really interesting and promising’.

“Any business related with renewable energy, we are interested (to invest in it). SCORE is also seen as a very excellent opportunity for collaboration between Spanish and Malaysian companies interested in technological corporation,” he added.

Garcia said this at a press conference after a seminar titled ‘Business Opportunities and New Technologies in Spain - The Evolution of the Spanish Enterprises into: Leading Technology Provider, Potential Business Partner and Investor’ at Menara SEDC here.

According to Garcia, there are Spanish companies now with operations in West Malaysia in the field of oil and gas.

He said oil and gas was one of the key sectors that Spain would like to venture in.

“Energy is not our only interest. We also have very good companies in other parts of Malaysia that are interested in the oil and gas sectors,” he said.

He pointed out the bilateral trade relationship between Spain and Sarawak could also be forged in other business sectors including in biotechnology and Information and Communication Technology (ICT).

Garcia went on to say that Spain was among the top world business players.

To date, he revealed that there are 25 Spanish companies investing in West Malaysia including the latest investment by Acerinox, which is the setting up of a RM5 billion stainless steel plant in Johor Baharu.

“Unfortunately, there are no Spanish companies investing in Sarawak as yet,” he said.

“But for the next 10 years, may be we will have around five to 10 companies in Sarawak, why not?” Garcia added.

The seminar conducted by Garcia was aimed at exchanging knowledge in terms of business opportunities in Sarawak and Spain.

Apart from the seminar, there was a video presentation on the Spanish Institute for Foreign Trade (ICEX), the Spanish Agency for Inward Investment (Interest Invest in Spain) and Espana.

The seminar that was jointly organised by Sarawak Economic Development Corporation (SEDC) and the Economic and Commercial Office of the Embassy of Spain in Malaysia was attended by key industry players in the field of biotechnology and energy.

Also present at the seminar were SEDC acting general manager Laura Lee, ACSM general manager Luis Ochoa and a representative of a Spanish medical equipments company, Sergio Navarro.

Taken From:

The Borneo Post Online
16/07/2008