KUALA LUMPUR, July 30 – The Malaysia External Trade Development Corporation (Matrade) has urged Malaysian companies to further explore Calgary, the biggest city in the province of Alberta, Canada, for its business potential in different sectors.
This follows the good response to a Matrade specialised marketing mission to the city in conjunction with the Gas and Oil Expo North America last month.
“The economic activities of Calgary are largely focused on the petroleum and energy industries with almost every major oil company headquartered in Calgary.
“Calgary is also home to major pipeline operators and manufacturers, oilfield services and drilling companies, energy related engineering firms and consulting firms,” said Matrade in a statement.
According to Calgary Economic Development (CED), there are opportunities in other industries such as construction, water management and electrical and electronics besides the oil & gas sector.
“Agriculture, information and communications technology (ICT), transportation and distribution logistics, financial and health services also contribute significantly to the rapid growth of the city,” said Malaysia Trade Commissioner in Toronto, Norzihan Mohd Zain.
The ICT industry includes information technology, electronics, wireless and telecommunications and digital media.
In 2012, imports of digital automatic data processing machines from Malaysia to Alberta amounted to US$10.08 million (RM31.95 million) and imports of processors, controllers and electronic integrated circuits amounted to US$2.75 million (RM8.72 million), she added.
Investment is expected to be one of the major drivers of Alberta’s economic growth over the next few years. It is driven by investment in oil sands, utilities, manufacturing and business services.
In 2012, Alberta’s imports from Malaysia amounted to US$85.91 million (RM272.34 million), an increase of 24 per cent as compared with US$68.82 million (RM218.16 million) in 2011.
The top imports from Malaysia included digital equipment processing machines, rubber gloves, tubes, pipes and hoses made from rubber, and wooden furniture.
Calgary has the highest personal income in Canada yet has lower cost of living compared with other major cities such as Toronto and Vancouver, and was voted as the fifth most liveable city in the world by the Economic Intelligence Unit.
The province of Alberta also has the lowest corporate and personal income tax in Canada.
Norzihan urged Malaysian companies supplying energy and energy efficiency, green building materials, furniture and electrical and electronics to consider doing business in Calgary.
– BERNAMA
