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EXIM Bank Malaysia impressed by Sri Lanka’s economic performance and Vision 2020

Dato Adissadikin Ali (President/CEO of EXIM Bank Malaysia)
Dato Adissadikin Ali (President/CEO of EXIM Bank Malaysia)

Ready to play an active role in development of financing opportunities

Following positive discussions with local authorities, EXIM Bank
Malaysia President Adissadikin Bin Ali and Head of Banking Nor Shahmir Bin Nor
Shahid ended an official visit to Sri Lanka with a press conference on October
15th.  Joined by H.E. Mr. Azmi
Zainuddin, High Commissioner of Malaysia in Sri Lanka, the EXIM Bank
representatives announced the Bank’s expansion plans in Sri Lanka observing several
conducive market factors.
The representatives noted that Sri Lanka’s above average
economic growth of 7%, together with prudent policy efforts at all levels in
recent years has placed its economy on much firmer ground.  It has found world attention with a growth
story that remains an inspiration to the South East Asian trading block.
According to the results of the OECD Development Centre’s Medium-Term
Projection Framework (MPF-2014), Real GDP growth across Emerging Asian
economies is projected to be robust over the 2014-2018 periods. In this
context, over the medium to longer term, the Sri Lankan balance sheet is poised
to grow significantly given its dynamic people, its strategic positioning and
proximity to markets, such as East Asia and the African and Middle East trading
blocks.

Mr. Syed Zen Bin Syed Mustafa (Managing Director of SME Factors, Malaysia)
Mr. Syed Zen Bin Syed Mustafa
 (Managing Director of SME Factors, Malaysia)
Commenting on the success of their visit Bin Nor Shahid noted:
“We see this as a realistic opportunity and are excited to be here today. Our
visit also signifies our fullest support to the Government’s multi-pronged
development strategy, ‘Vision 2020’, and efforts to become a developed economy
by 2035. A major part of the vision is the focused toward shifting development
to the rural areas, thereby, integrating the country in its high growth
trajectory. With it we see the social situation also improving as the fruits of
large investments come into effect.”
The representatives participated in a series of discussions with
Secretary to the Treasury, Ministry of Finance & Planning, Dr. P.B.
Jayasundera, Central Bank Governor Ajith Nivard Cabraal, and Minister of
Industry and Commerce Rishad Bathiudeen during their two day visit.
Head table L-R – Mr. Nor Shahmir Bin Nor Shahid (Head of Banking- EXIM Bank Malaysia), Dato Adissadikin Ali (President/CEO of Exim Bank Malaysia), HE Mr. Azmi Zainuddin (High Commissioner of Malaysian Embassy in Sri Lanka), Dato Latt Shariman Bin Abdullah (Special Function Officer to Dato Seri Nijab Pin Tun Abdullah Razak (Prime Minister of Malaysia)) & Mr. Syed Zen Bin Syed Mustafa, Managing Director of SME Factors in Malaysia
Head table L-R – Mr. Nor Shahmir Bin Nor Shahid (Head of Banking- EXIM Bank Malaysia), Dato Adissadikin Ali (President/CEO of Exim Bank Malaysia), HE Mr. Azmi Zainuddin (High Commissioner of Malaysian Embassy in Sri Lanka), Dato Latt Shariman Bin Abdullah (Special Function Officer to Dato Seri Nijab Pin Tun Abdullah Razak (Prime Minister of Malaysia)) & Mr. Syed Zen Bin Syed Mustafa, Managing Director of SME Factors in Malaysia
“In our discussions held with The Economic Development Ministry,
Ministry of Finance & Planning, and Central Bank of Sri Lanka, we found
that the Sri Lankan Government has recognized that a key role must be played by
SMEs in the economy and have instituted policies to improve their productivity
and access to markets. To this end EXIM Bank Malaysia is well positioned to
provide tangible assistance through our project financing, contract financing
as well as trade financing for Malaysian joint venture companies in Sri Lanka.
EXIM Malaysia is also keen to provide technical support through our multiple
product framework. Our visit to Sri Lanka has been extremely helpful and
provided great insight, we firmly believe that the country is well positioned
to overcome both economic and social challenges and achieve its desired vision,
outlined in the 2020 policy framework,” he elaborated.
The Export-Import Bank of Malaysia Berhad (EXIM Bank) was
incorporated on 29 August 1995 as a government owned development financial
institution through a wholly owned subsidiary of the Minister of Finance
Incorporated. The Bank was established to promote reverse investment and export
of strategic sectors, such as, capital goods, infrastructure projects,
shipping, value added manufactured products and also to facilitate access into
new markets, particularly to the non-traditional markets. EXIM Bank in its
export promotion effort also collaborates with Malaysian government agencies
including Ministry of International Trade and Industry (MITI), Malaysia
External Trade Development Corporation (MATRADE), Malaysian Investment
Development Authority (MIDA), Small And Medium Enterprise Corporation Malaysia
(SMECorp), and Construction Industry Development Board Malaysia (CIDB).

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