MALAYSIA has secured potential investments worth RM46 billion and potential Malaysian exports valued at RM2.4 billion from its recent trade and investment mission to Germany and France.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, who was leading the mission, said among notable companies engaged during the mission were X-Fab, Melexis, Infineon Technologies AG, Airbus Group, Schott Glass, BMW, Nexperia, B-Braun, Michelin, Institut de Soudure (IS) Groupe and Simaero.
He said these corporations shared their investment plans and interest in establishing strategic partnerships in Malaysia, which will contribute significantly to Malaysia's economic landscape, particularly in terms of technology transfer and the creation of high-value jobs in the country.
In terms of export potential, Tengku Zafrul held discussions with Airbus Group, Deutsche Bahn, Safran, and X-Fab (France) to reinforce their ongoing interest in sourcing from Malaysia.
“These business interactions with German and French companies are part of our strategic engagement to update them on the implementation of the New Industrial Master Plan 2030 (NIMP 2030), our commitment to the speedy execution of projects as well as our business-friendly stance on expanding investments and trade.
“Our door is always open on hosting companies from Germany and France, two of Europe’s main drivers of economic growth and industrial powerhouse, which will pave a significant pathway towards reindustrialising our nation and revitalising our economy,” he said in a statement today.
He said these engagements were also aimed at enhancing Malaysia's involvement in the global value chain, thus facilitating further integration into international markets.
“By fostering collaborative relationships with key players in France and Germany, Malaysia seeks to expand its footprint in global trade and solidify its position as a reliable and competitive partner in various industries,” he continued.
During the mission to France, a significant bilateral meeting took place between Tengku Zafrul and his French counterpart Franck Riester, the Minister Delegate for Foreign Trade, Economic Attractiveness, Francophonie, and French Nationals Abroad.
Both sides were engaged in a fruitful exchange of views and updates, aimed at further fortifying bilateral economic collaborations, said Investment, Trade and Industry Ministry (MITI) in the same statement.
Of particular focus were areas of mutual interest, including advancing energy transition initiatives, fostering the adoption of green economy practices, and exploring the potential to recommence negotiations for a free trade agreement with the European Union, it added.
The ministry said such discussions underscored the shared commitment to enhancing economic cooperation and leveraging opportunities for sustainable growth between Malaysia and France.
The mission, which started on March 11 and concluded yesterday, covered the cities of Berlin and Hamburg in Germany, as well as Paris, France.
The German leg of the mission was in conjunction with Prime Minister Datuk Seri Anwar Ibrahim’s official visit to Germany from March 11 to 15.
The mission’s delegation comprised officials from MITI, the Malaysian Investment Development Authority and Malaysia External Trade Development Corporation.
These officials were engaged in high-level meetings with European companies in target sectors under the NIMP 2030 such as semiconductor, automotive, aerospace, railway, chemical, medical devices, as well as machinery and equipment. - Bernama, March 20, 2024
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