KUALA LUMPUR – The trade and investment mission to Europe on October 13-21 – led by International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali – has yielded promising results, with European investors making a strong commitment to invest a total of RM14.1 billion in Malaysia.
The International Trade and Industry Ministry (Miti) said in a statement the potential foreign direct investment (FDI) from Germany is RM10.7 billion, while potential FDIs from France and the United Kingdom are RM2.6 billion and RM800 million respectively.
“Concurrently, an export value of Malaysian products worth RM400 million (RM50 million to Germany, RM300 million to France, and RM50 million to the UK) is expected to materialise in the coming years,” Miti said.
Miti said Malaysia’s economic transformation efforts – particularly in driving the environment, social and governance agenda – are well received by the European business community.
The strong recognition of Malaysia’s renewed emphasis on the sustainability agenda validated the sustained confidence of European investors and importers towards Malaysia as a favoured business destination, and a strategic gateway for European businesses to venture further into the Southeast Asia region and larger Asia-Pacific market.
Throughout the mission, Azmin comprehensively shared Malaysia’s vision in the sustainable agenda – notably, the Malaysian target of achieving carbon net-zero greenhouse gas emissions by 2050 earliest, as outlined in the 12th Malaysia Plan.
“On account of various opportunities in Malaysia’s green technology and green mobility sectors – besides other high-value industries – European businesses and investors look forward to intensifying participation in those areas that are among the key focus in Malaysia’s economic development aspirations,” it said.
During an engagement with the UK delegation, Miti identified collaboration opportunities in the areas of Industry 4.0, renewable energy and sustainability, as well as leveraging Malaysia’s position in the Regional Comprehensive Economic Partnership, and Comprehensive and Progressive Agreement for Trans-Pacific Partnership to further expand their footprint in the region. – Bernama, October 23, 2021
