Malaysia signs MoUs worth RM34 billion with Saudi Arabia


KUALA LUMPUR: The signing of memorandums worth approximately RM34 billion between nine Malaysian companies and a Saudi Arabia conglomerate, Ajlan Bros Holding Group was a prove that Malaysia remains a major investment destination.

The Prime Minister’s Office in a statement said, the MoU’s involved the semi-conductor, social trading, medical technology, defence and entertainment sectors.

The signing ceremony was witnessed by Prime Minister, Datuk Ismail Sabri Yaakob and Ajlan Bros Holding Group deputy chairman Mohammed Abdulaziz Al Ajlan.

The nine Malaysian companies involved in the MoUs include Dagang NeXchange Bhd. (DNex), Aerodyne Systems Sdn. Bhd., National Aerospace & Defence Industries Sdn. Bhd.(Nadi),

Twistcode Technologies Sdn. Bhd, Cybersecurity Malaysia, Malaysia Genomics Resources Centre Bhd., Meta Universe Sdn. Bhd., Light Up 7 Sdn. Bhd. and My Events Sdn. Bhd.

Meanwhile the Prime Minister said the collaboration between the Malaysian companies and Ajlan Bros Holding Group could create a multiplier effect on the nation’s economic growth.

Ismail added, the collaboration will also enable the local companies to increase their competencies to compete at the international level.

“Investments with high impact are very important for the country and Malaysian Family to recover from the effects of COVID-19 pandemic and also the geopolitical crisis that had caused economic uncertainties,” Ismail said. –Malaysia World News

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