The Republic of Guinea is looking up to Malaysia’s expertise in the palm oil sector to boost the two nations’ bilateral trade ties, which was valued at RM143.1mil last year, and the African republic has selected K Global Ventures Sdn Bhd (KGV) to start the ball rolling. Guinea’s Minister of Trade, Marc Yombouno, who was on a visit here to meet investors, announced that negotiations had led to the selection of KGV to develop 100,000ha in Guinea to grow and process palm oil. He added that, as an incentive, upon the successful planting of oil palm by the first quarter of next year, and if the undertaking was completed within five years from then, Guinea would offer land that would double the initial offer. KGV director Datuk Annuar Zaini Binyamin said the 100,000ha of oil palm in Malaysia would generate RM2bil in revenue. He also said Malaysia could invest in the bauxite sector in the nation, which is the second largest global bauxite producer.
Posted on: Thu, 31 Jul 2014 04:19:33 +0000
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