India's VMU Looks At Malaysia As Strategic Investment Destination

KUALA LUMPUR, Oct 22 (Bernama) -- With plans for the relaxation of rules on foreign equity ownership in the services sector, Vinayaka Missions University (VMU) of India said the group now has greater incentives to continue looking at Malaysia as a strategic investment destination.

The leading educational group from India with investments in Malaysia welcomes the statement by International Trade and Industry Minister Datuk Mustapa Mohamed that the government may relax rules on foreign equity ownership in the services sector to attract more Indian investors to Malaysia.

VMU pro-chancellor Datuk Dr S. Sharavanan said liberalising foreign equity ownership by Indian investors in the services sector would have a positive impact in attracting Indian investments to Malaysia.

"We at VMU view Malaysia as a strategic location to invest, especially with the government's push towards creating an education hub in the region. We certainly have ambitious plans in Malaysia," he said in a statement on Thursday.

Sharavanan, who is based in Malaysia, said the group's priority outside India over the next few years is Malaysia in terms of foreign direct investment and that the country will also be number two (after India) in terms of revenue generation for years to come.

VMU, which currently operates the Penang International Dental College (PIDC) and Surya College in Penang, has plans to emerge as an established brand in the field of higher education by 2015 with a planned investment of RM260 million over five years, making it the group's biggest investment abroad.

The group, founded 26 years ago, also operates campuses in India, Thailand, Canada and the United Arab Emirates.

Sharavanan sees Malaysia as an ideal location to attract students from the region, including India and China, having the advantage in terms of location, logistics and world-class infrastructure besides enjoying the lower cost of getting quality education at its facilities here.