ABU DHABI – Clear policies and enhanced ease of doing business. These are among the improvements in the Malaysian bureaucracy that Datuk Seri Anwar Ibrahim assured have been laid down to the business community in the United Arab Emirates (UAE), nearly a year after his government began ruling in November last year.
Addressing a group of 21 industry leaders in during his two-day visit here, the prime minister emphasised Malaysia's commitment to a policy shift focusing on renewable energy, technological advancement, and food security.
Anwar also challenged preconceptions on Malaysia, as he invited investors to witness for themselves the transformation that the country has undergone since his administration took office.
“Nothing much of what has been said or what was read about Malaysia is the same. Come to Malaysia and see for yourself. See the changes (from what) you may have observed five, three or two years ago.
“I want to prove a point – now things are much better and it's easy to do business. And it is due to clear determination and effective leadership as we want to make sure things function effectively,” he said during a roundtable session with UAE captains of industry.
The event was held at the Emirates Palace Hotel here yesterday in conjunction with his special visit to the Gulf country.
The prime minister's vision includes propelling Malaysia back to its 1990s economic glory and nurturing a vibrant Asian economy.
He also shared the vision of UAE president Sheikh Mohammed bin Zayed Al Nayen to further expand cooperation between Malaysia and the UAE.
Anwar cited Malaysia’s recent progress in this regard, pointing out Malaysia is emerging as one of the pioneers in the Southeast Asian region in the areas of renewable energy, naming Sarawak as one of the major regional hubs.
He also underscored developments in the electric vehicle (EV) and hybrid vehicle industry, with notable investments from US-based investor Elon Musk and a substantial RM10 billion injection from Chinese automaker Zhejiang Geely Holding Group Co Ltd into the Automotive High Technology Valley in Malaysia.
He also noted Infineon Technologies AG’s plan to invest up to 5.0 billion euros (RM24.9 billion) over the next five years to build the world's largest 200mm silicon carbide (SiC) power fabrication plant in Malaysia.
Anwar revealed that the Ministry of Investment, Trade and Industry (Miti) is working on a new masterplan to streamline business processes and enhance incentives, ensuring Malaysia remains a competitive investment destination to further improve the country appeal to investors,
Disclosing that Malaysia currently spends approximately US$20 billion (RM94.4 billion) on food imports from other countries, he expressed hope that Lulu Group International's chairman Yussuf Ali can assist Malaysia in ending the food security concerns in the country.
Prime Minister Anwar's visit was initially scheduled for the Conference of the Parties (COP28) in November. However, a special visit to Abu Dhabi was favoured following a gracious invitation from UAE president Sheikh Mohammed bin Zayed Al Nayen.
The Abu Dhabi ruler has credited the Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah as being a good friend.
“I am of course extremely delighted to be here… But then I think because of the extraordinary friendship between the president and the Agong, the president had kindly suggested that I should come first as it is time to initiate more talks and exchange with His Highness and also some key personalities," he said. – The Vibes, October 6, 2023
