PM Anwar visits to UAE: Many companies want to increase investments in Malaysia

FB IMG 1696551682896

ABU DHABI: Malaysia and United Arab Emirates (UAE) will broaden its existing relations and cooperation among others in energy related sector that could be renewed between MIDA and Abu Dhabi Future Energy Company PJSC-MASDAR through Memorandum of Understanding (MoU).

Prime Minister, Datuk Seri Anwar Ibrahim said, the MoU is aimed to develop together the capacity of 10 gigawatt worth USD8 billion in energy sector that could be renewed in 2025.

He said, the Malaysia-UAE trade and investments will be harmonised with the appointment of Tan Sri Tengku Muhammad Taufik Tengku Kamadjaja, President and CEO Petronas as the Chairman Malaysia-UAE Business Council (MUBC) while Rashid Alblooshi, Senior Vice-President, Mubadala Energy representing UAE.

“Insya Allah Malaysia and UAE will continue exploring in the form of cooperation and closer relations to strengthen the economy of both countries,” said Anwar in his Facebook post, Friday.

The prime minister is on his two day working visit to UAE. The visit includes meeting with Sheikh Mohamed bin Zayed Al Nahyan, UAE President and Abu Dhabi Head, together with UAE Chief Defence Forces at Qasr Al Shati’ Palace.

Anwar was accompanied by Minister of Foreign Affairs, Datuk Seri Dr. Zambry Abdul Kadir and Minister of Investment, Trade and Industry (MITI) Tengku Datuk Seri Zafrul Abdul Aziz as this session was to exchange opinions and ideas relating to mutual issues besides strengthening existing cooperation.

“The meeting was specially focused on economy, trade, investment, energy renewal, food security and other matters that could fulfil the future visions for sustainability and prosperity for both countries,” Anwar said.

During the visit, Anwar said he had the opportunity meeting 40 representatives from 21 big companies including ADNOC, TAQA, MASDAR, Al-Dahra, Lulu and DP World. Also present were representatives from national funds such as ADIA and Mubadala.

“I am informed that many of them who have invested in Malaysia intend to increase their investments and those present includes UAE International Investors Council and Abu Dhabi and Dubai Chamber of Commerce.

“I also shared Malaysia’s experience on how we managed to attract new investments from global renowned companies such as Tesla, Infinon, Geely and others.

“Equally important is the New Energy Transition Roadmap (NETR) and New Industry Master Plan 2030 (NIMP2030) that will strengthen the basis of industry and trade in Malaysia,” he said.

The prime minister also stressed that the halal industry and Malaysian Islamic finance is a sector that various cooperation could be established and at the same time the social justice concept is applied via the implementation of halal industry in Malaysia. – Malaysia World News

more recommended stories