United Overseas Bank (UOB) forecasts Malaysia’s economy to grow 4.7 per cent for 2025, reflecting normalisation from a high base effect, strong trade diversification and supportive domestic drivers.

UOB senior economist (Malaysia) Julia Goh said Malaysia continues to have strong domestic levers supported by its stable labour market conditions, ongoing investments, energy transition efforts, implementation of national masterplans and regional development despite higher external risks.

“With a total expenditure budget of RM421 billion or 20.2 per cent of gross domestic product (GDP) for next year, the fiscal engine remains expansionary despite a narrower fiscal deficit target of 3.8 per cent of GDP.

“Potential investments in the pipeline include RM25 billion by government linked-investment companies (GLICs) alongside several public-private partnership projects, and more than RM40 billion worth of government construction projects to commence in 2025,” she said at UOB Global Economics and Market Research’s 2025 Macroeconomic Outlook virtual media briefing today. 

Ringgit outlook

Goh said that despite sound economic and financial fundamentals, the ringgit is vulnerable to external developments, especially the potential upcoming Trump tariffs which is expected to weigh on Asian foreign exchange.

“The ringgit which is closely correlated to the yuan will likely take direction from the latter. There should be more efforts to encourage more consistent inflows by government linked companies (GLCs) and Malaysian corporates,” she said.

She also expected the Qualified Resident Investor programme to offer flexibility for resident corporates to reinvest abroad after repatriation of foreign funds, and the liberalisation of foreign exchange policies for multilateral development banks and non-resident development financial institutions to issue ringgit-denominated debt securities for use in Malaysia and provide ringgit financing to resident entities. 

Source: Bernama

UOB projects 4.7 pct GDP growth for Malaysia in 2025, driven by strong domestic levers, investments

United States envoy Edgard D. Kagan has today downplayed the impact of the upcoming Donald Trump presidency on the country’s ties with Malaysia, saying it will continue to benefit both sides.

However, the US ambassador to Malaysia conceded that the exact details of the new administration’s policies will not be known until it takes over in January next year.

“I think that it’s very clear, and this has been true from both candidates, that there is a strong desire to increase manufacturing jobs in the United States, and there’s an effort to look for a mix of policies that will do that.

“I think that that is very, very clear that that is going to be an important goal for the incoming administration, based on what they’ve said during the campaign,” he told reporters after delivering a talk on the US-Malaysia economic partnership at the Penang Institute here.

“I feel very confident that you’re not going to see a fundamental destruction or major change in the relationship,” he added, when explaining how the trade ties are set to continue.

As for concerns on tariffs being imposed on Malaysian-made semiconductor items, such as those that contained certain Chinese products, Kagan said the integrity of supply chains is critical when it comes to this.

He said it is very dangerous for any country to become a vehicle or locale for mislabelling of goods.

“There is a perception, and I think it has been largely correct, that Malaysia does offer a great deal of integrity in terms of supply chains,” he said, adding that this was one of the reasons that made Malaysia a very attractive destination for US investments.

He welcomed recent remarks by Deputy Minister of Investment, Trade and Industry, Liew Chin Tong, that Malaysia will not be a vehicle or a locale for mislabelling of goods.

He said the integrity of supply chains also means protecting of intellectual property, and that it is also critical for companies that are operating at the cutting edge of technology.

“You do not want to be operating in a place where your intellectual property can be stolen. And in that regard, Malaysia has a tremendous advantage because of the fact it has a 5G network that has trusted technology and trusted suppliers,” he said.

Kagan said it is also worth to remember that a lot of companies started moving out of China based on concerns about intellectual property rights (IPR) that would have happened regardless of the geopolitical tension.

Earlier, in his speech, Kagan said that since 2021, US companies have announced over RM200 billion in new investments in Malaysia.

He said Malaysia, especially Penang, has one of the world’s major ecosystems in technology.

“So I think that it is worth keeping in mind that Penang’s strength isn’t just the policies towards the manufacturers, towards MNCs,” he said, referring to multinational companies.

He said it is also the talents that have led to the development of a sophisticated and resilient ecosystem, which made Malaysia attractive in a way that went beyond whatever incentives offered by the government.

He said Malaysia is very much the centrepiece of Southeast Asia, and it is a critical region for the United States.

“It is worth keeping in mind that US exports have increased significantly as well as US imports,” he said.

He said US remains the largest investor in Southeast Asia and the largest foreign investor.

According to data released by the US Embassy, Malaysia’s exports to the US increased 19.1 per cent in 2024.

Malaysia’s exports to US totalled RM159.4 billion in 2024. The US-Malaysia two-way goods trade increased 29.1 per cent in 2024.

Source: Malay Mail

Envoy says beneficial economic ties between US and Malaysia set to continue, even with Trump administration 

Economic and trade cooperation between China and Malaysia continues to advance towards new higher-value opportunities, according to China’s Ambassador to Malaysia Ouyang Yujing.

“In order to achieve economic growth in the future, the digital economy and green development would represent two key trends, aligning with the high-quality development of a green Belt and Road,” Ouyang said at the launch of a report titled Assessing the Roles of Chinese Enterprises in Malaysia’s Economic Development yesterday.

For the purpose of exploring new opportunities in the digital sector, the ambassador also invited the Malaysian government and business sector to participate in the Global Digital Trade Expo taking place in Hangzhou, Zhejiang Province, next September.

Ouyang also urged companies to concentrate on sectors like clean energy, electric vehicles, green finance, and green infrastructure construction for cooperation in green investments.

“China’s annual direct investment flow into Malaysia nearly quadrupled from 2014 to 2023, recording more than US$2bil last year,” he said.

Meanwhile, South-East Asia Research Centre for Humanities senior research fellow Ong Sheue Li said China has been Malaysia’s largest trading partner for 15 consecutive years, with bilateral trade reaching RM450bil in 2023.

“Chinese investments in Malaysia span various sectors, particularly manufacturing, infrastructure, energy, and digital technology. Notable projects include collaborations with Proton, the East Coast Rail Link, and digital initiatives by Huawei and Alibaba, which contribute to Malaysia’s industrialisation and digital-transformation goals,” she said.

Ong said looking at bilateral trade data, Malaysia’s exports to and imports from China continue to grow, driven by factors like the strengthening cooperation in trade agreements and increasing foreign direct investment (FDI) from China.

“Trade between Malaysia and China is mainly concentrated in the categories such as machinery and transportation equipment, manufacturing products, chemical products and hybrid manufacturing products,” she said.

Ong noted that with regards to FDI, China’s investment in Malaysia has increased significantly in recent years, especially after the launch of the Belt and Road Initiative in 2013.

Source: The Star

China-M’sia economic ties continue advancing

Sarawak’s gross domestic product (GDP) growth, driven by strategic investments in infrastructure and green technology, is projected to surpass 5.0 per cent in 2025 said Sarawak Premier Tan Sri Abang Johari Tun Openg.

The Premier said for 2025, Sarawak’s budget has been meticulously crafted with an unprecedented allocation of RM15.8 billion to ensure sustainable economic growth, while prioritising key sectors that drive Sarawak’s prosperity.

“To further demonstrate the government’s commitment to equitable growth and uplifting vulnerable communities, infrastructure development remains a top priority under urban-rural economic integration.

“We have earmarked RM10.9 billion for development expenditure. Key projects include roads, bridges, ports, and enhanced water and electricity supply systems,” he said in his speech during the 2025 Sarawak Budget Conference here today.

Meanwhile, Abang Johari said Sarawak’s GDP growth is projected to range between 5.0 and 6.0 percent by the end of the year.

He said key sectors such as services, mining, and agriculture have all demonstrated commendable growth, driven by strategic investments and innovative policies.

“Guided by our PCDS 2030 (Post-Covid-19 Development Strategy 2030), our investments in catalytic projects, such as the 50MW Batang Ai Floating Solar Farm and hydrogen initiatives, has positioned Sarawak as a leader in renewable energy and digital transformation,” he said.

Source: Bernama

Sarawak’s GDP projected to grow above 5pct in 2025 – Abang Johari

Pahang attracted committed foreign direct investments (FDIs) totalling RM22.67 billion between 2022 and June this year, said Pahang Investment, Industries, Science, Technology and Innovation Committee chairman Datuk Mohamad Nizar Najib today.

He told the Pahang state legislative assembly that the committed FDIs were based on the memorandum of agreement (MoA) signed for 15 projects across the state.

“The committed FDI increased from RM11.01 billion in 2022 to RM11.666 billion last year. However, the potential FDI for this year is still in the negotiation stages.

“China has invested in five projects with committed FDI amounting to RM14.489 billion while three projects amounting to RM22 billion have been granted the manufacturing licence by the Malaysian Investment Development Authority,” he said during the question and answer session at the Pahang state assembly sitting at Wisma Sri Pahang here today.

He was replying to a question from Thomas Su Keong Siong (DAP-Ketari) on the total FDI recorded by Pahang between 2022 and June this year, and the total investments from China.

Meanwhile, Pahang Agriculture, Agro-based Industry, Biotechnology and Education committee chairman Datuk Seri Mohd Soffi Abd Razak said all cage fish farmers especially those involved in the ikan patin (silver catfish) farming industry in Sungai Pahang have been given early notice to prepare for the northeast monsoon season (MTL).

“The breeders were issued early notices in October to prepare for the monsoon season including securing the cages with extra ropes.

“Fish farmers are advised to plan and sell their harvest(silver catfish) at a suitable size before the season. Fish breeders affected by the monsoon season are told to lodge a report with the district fisheries department and follow other procedures including lodging a police report,” he said, assuring the state’s fish supply will be sufficient throughout the northeast monsoon season.

Soffi was replying to a question by Datuk Seri Mohd Johari Hussain (BN-Tioman) on the fish supply status in Pahang and the approach adopted by the state government to help fish farmers prepare for the northeast monsoon season.

Source: NST

Pahang attracted some RM11 billion in foreign direct investments for two consecutive years

Selangor attracted RM29 billion in approved foreign investments from 2023 to June 2024, securing its position as the country’s fifth-highest recipient.  

According to Deputy Investment, Trade and Industry Minister Liew Chin Tong, Penang led the rankings with RM65 billion, followed by Kedah (RM54 billion), Kuala Lumpur (RM43 billion) and Johor (RM38 billion).  

Liew said nationwide, Malaysia recorded a total of RM489.5 billion in approved investments across the manufacturing, services and primary sectors during this period.

“Of this, RM262.9 billion (53.7 per cent) represented foreign investments, while RM226.5 billion (46.3 per cent) came from domestic sources,” he said during the question and answer session in the Dewan Rakyat here today.

Liew was responding to a question from Stampin MP Chong Chieng Jen on the number of approved investments the country has received in the past year.

The deputy minister said the Federal government is committed to working with international partners like the United States to ensure fair treatment for existing companies operating in Malaysia.

This is especially after US President-Elect Donald Trump reportedly said he wishes to impose tariffs on goods produced in China as well as countries participating in BRICS.  

“We are prepared to engage with the US and work closely with both foreign and domestic companies already established in the country. However, our strategy goes beyond merely attracting foreign investments.  

“This includes strengthening our semiconductor diplomacy and maintaining strong relationships not only with the US, but also with the European Union, Brazil, and other middle-power nations,” he said.

Source: Selangor Journal

Selangor records RM29 bln in approved foreign investments from 2023 to June

Cautious optimism is guiding Malaysia’s path to economic resilience, with the country projected to maintain steady growth of 5% in 2024, in line with this year’s performance.

Kenanga Investment Bank Bhd head of economic research Wan Suhaimie Wan Mohd Saidie said the nation is leveraging its regional integration and strategic diversification to navigate ongoing global challenges.

Despite geopolitical tensions and shifting trade dynamics, he emphasised that Malaysia’s positive economic outlook is supported by strong domestic demand and favourable government policies.

“Malaysia’s resilience lies in its ability to balance opportunities and risks in a multipolar world.

“Key drivers for growth include infrastructure projects, small business support, and initiatives to strengthen export sectors such as electrical and electronics.

“However, execution challenges and rising competition within Asean are hurdles to overcome,” Wan Suhaimie said at Malaysian Investment Development Authority-Malaysian Institute of Economic Research (Mida-MIER) Budget Insights forum today.

He noted that the global shift towards multipolarity has intensified the need for strategic partnerships.

“As Malaysia prepares for its 2025 Asean chairmanship, the country is positioning itself as a leader in fostering regional cooperation.

“Asean integration is critical for Malaysia’s trade and investment growth, especially amid the United States-China tensions,” Wan Suhaimie said, stressing that the chairmanship provides an opportunity to champion intra-regional trade and deepen ties with emerging economies like India and Brazil.

On the geopolitical front, he highlighted China’s projected growth slowdown and the implications of US policies under a potential Trump presidency present challenges.

“Malaysia is focused on diversifying trade to mitigate dependency on its two largest partners, embracing opportunities in India, Europe and BRICS nations,” Wan Suhaimie noted.

Domestically, he said, the government is prioritising talent development and economic diversification.

While Malaysia’s path is fraught with uncertainties, Wan Suhaimie, said its neutral stance in global geopolitics, coupled with proactive policies, has instilled cautious optimism among stakeholders.

The forum held at Mida Sentral saw CEOs, investors and policy leaders engaged in open and dynamic discussions about Malaysia’s economic future. The line-up of moderators and panellists, comprising industry thought leaders and economic experts, delivered presentations and discussions that provided a comprehensive view of Malaysia’s economic landscape, offering attendees a unique perspective on the country’s prospects and opportunities for growth.

MIER executive director Anthony Dass highlighted that the Budget Insights forum set a new standard for economic cooperation in Malaysia, marking a crucial milestone in the country’s efforts to achieve more inclusive and sustainable growth.

“By fostering a culture of collaboration and open dialogue between the public and private sectors, the event became a driving force for Malaysia’s economic progress,” he said.

Source: The Sun

Malaysia’s path to economic resilience guided by cautious optimism

The first comprehensive Free Trade Agreement (FTA) between Malaysia and the United Kingdom (UK), through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), will boost trade and investment relations between both countries.

Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the UK’s entry as a Group of Seven (G7) member and leading advocate of the rules-based trading system brings significant value to the CPTPP.

In his speech at the UK’s CPTPP countdown ceremony, Tengku Zafrul said the UK remains a strategic trading partner to Malaysia, with total trade reaching RM14 billion (US$3 billion) in the first 10 months of 2024.

“These numbers will improve, through increased Malaysian exports of sustainable palm oil, aerospace parts, oil and gas, renewable energy, environmental products, electrical and electronics and lifestyle products, and British exports of machinery, pharmaceuticals, chocolates and confectionaries and high-tech goods.

“Furthermore, UK exporters can also leverage the 16 FTAs Malaysia has ratified, including the Regional Comprehensive Economic Partnership (RCEP) and many others,” he said.

The UK is scheduled to enter the CPTPP on Dec 15, 2024.

Tengku Zafrul said the electrical and electronics sector would benefit from the FTA between Malaysia and the UK through the CPTPP.

He said British investors will appreciate Malaysia’s political stability and its strong rule of law, which supports a conducive landscape for investors seeking to establish their manufacturing or services hub in Asia.

Policies like the New Industrial Master Plan (NIMP) 2030, the National Energy Transition Roadmap (NETR), the National Semiconductor Strategy (NSS) and the Green Investment Strategy, are all aimed at attracting investments that would promote sustainable, equitable and inclusive growth.

“Besides, the Malaysian government is serious about the execution of its industrial and other structural reforms,” stressed Tengku Zafrul.

On Malaysia’s ASEAN chairmanship in 2025, Tengku Zafrul said it is important for UK businesses to invest and collaborate with neutral and non-aligned partners as ASEAN’s neutrality and centrality have brought about long-standing regional peace.

Malaysia strongly intends to strengthen its centrality and neutrality so that more investments and trade would flow into the region, he said.

Meanwhile, acting British High Commissioner David Wallace said the agreement would see 94 per cent of tariffs eliminated between the UK and Malaysia which would boost palm oil, cocoa and confectionery, cars and aerospace.

“We’re hoping this will strengthen our modern partnership and grow both of our economies,” he said.

With the UK joining CPTPP, Wallace said the combined gross domestic product (GDP) of CPTPP members has risen from over £9 trillion to £12 trillion (£1= RM5.64).

He said the UK will be the second-largest member behind Japan, increasing the GDP of the bloc by 25 per cent.

“Joining this existing trading group means that over 99 per cent of UK goods exports to CPTPP members are eligible for tariff-free trade and it means lower tariff on CPTPP exports to the UK,” he said.

Source: Bernama

CPTPP: Malaysia-UK FTA will boost trade and investment – Tengku Zafrul

Malaysia has approved RM489.5 billion in investments across the manufacturing, services, and other primary sectors over the past 18 months, said Deputy Minister of Investment, Trade, and Industry Liew Chin Tong. 

Of the total RM262.9 billion invested, 53% consisted of foreign investments and the remainder domestic, covering the period for the whole of 2023 through June 2024.

“In terms of foreign investments, Penang recorded the highest at RM65.9 billion, followed by Kedah at RM54.9 billion, the Federal Territory of Kuala Lumpur at RM43.79 billion, Johor at RM38.97 billion, and Selangor at RM29.89 billion,” he told the Dewan Rakyat on Tuesday during the oral question-and-answer session.

He was responding to Chong Chieng Jen (Pakatan Harapan-Stampin), who inquired about the total approved foreign direct investments (FDIs), and the detailed breakdown by state.

Liew further explained that the term “foreign investment” (FI), as reported by the Ministry of Investment, Trade, and Industry (Miti), through the Malaysian Investment Development Authority (Mida), differs from the FDI term used by the Department of Statistics Malaysia (DOSM).

He said that Mida reports the approved investment value, which reflects proposed projects and their implementation status, while DOSM’s FDI data focuses on actual foreign capital inflows and outflows, with investments involving at least 10% holding in affiliated companies in Malaysia. 
MIDA’s FI data emphasises the economic impact of approved projects, contributing to economic growth, while DOSM’s FDI data provides insights into financial transactions and macroeconomic statistics.

Liew said that the ministry and Mida will continue to intensify efforts to attract quality investments to benefit the country and its people, including through economic activities, business opportunities, and high-value jobs.

Meanwhile, Liew acknowledged that Malaysia is facing uncertainty with the upcoming inauguration of United States President-elect Donald Trump next year, but emphasised that the government is always ready to negotiate with the country’s third-largest trading partner.

“We will also cooperate with companies based in Malaysia, whether foreign or local, to ensure that we receive fair treatment in this new situation,” he said.

Source: The Edge Malaysia

Malaysia approves RM489.5b in investments over the past 18 months — Liew

Malaysia leverages its foreign relations to enhance the economy, investment and the quality of education, said Prime Minister Datuk Seri Anwar Ibrahim.

He shared that during his recent working visits to Peru and Brazil, numerous world leaders expressed interest in meeting him, reflecting recognition of Malaysia’s position on the global stage.

“But what do we leverage these opportunities for? For the economy, investments, and education quality. That’s what matters.

“I have instructed follow-up actions to be coordinated by the Foreign Ministry, the Ministry of Investment, Trade and Industry (MITI), the Prime Minister’s Department (JPM), and relevant agencies,” he said.

He was speaking at the monthly gathering with staff of the Prime Minister’s Department here today. Also present were Deputy Prime Ministers Datuk Seri Dr Ahmad Zahid Hamidi and Datuk Seri Fadillah Yusof and Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar,.

The Prime Minister also noted that Malaysia’s achievements in combating corruption caught the attention of Peru’s President Dina Ercilia Boluarte Zegarra, who expressed interest in learning from the experience of the Malaysian Anti-Corruption Commission (MACC) to address corruption in her country.

He added that the Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said is now chairing the International Anti-Corruption Academy, following MACC’s good performance, a recognition that benefits Malaysia.

Meanwhile, strategic ties with Brazil have opened economic opportunities, as President Luiz Inacio Lula da Silva granted Malaysia privileges, including enabling Petronas to continue exploration activities and Yinson Holdings Berhad to secure investments in the world’s largest electric energy vessel. 

Source: Bernama

Malaysia leverages foreign relations to boost economy, investment — Anwar

Malaysia has urged Chinese companies to refrain from using it as a base to “rebadge” products to avoid US tariffs, its Investment, Trade and Industry Deputy Minister Liew Chin Tong said on Monday, amid increasing export restrictions and concerns of a US-China trade war.

Washington is expected to further curb exports to Chinese semiconductor toolmakers and sales of certain chipmaking equipment, including products manufactured in Malaysia, Singapore and Taiwan, sources have told Reuters.

Malaysia is a major player in the semiconductor industry, accounting for 13% of global testing and packaging, and is seen as well-placed to grab further business in the sector as Chinese chip firms diversify overseas for assembling needs.

“Over the past year or so… I have been advising many businesses from China not to invest in Malaysia if they were merely thinking of rebadging their products via Malaysia to avoid US tariffs,” Liew told a forum on Monday (Dec 2).

He did not specify the types of businesses.

Liew said regardless of whether the United States had a Democratic or Republican administration, the world’s largest economy would impose tariffs, as seen in the solar panel sector.

Washington imposed tariffs on solar exports from Vietnam, Thailand, Malaysia and Cambodia – home to factories owned by Chinese firms – last year and expanded them in October following complaints from manufacturers in the United States.

US President-elect Donald Trump has threatened to slap an additional 10% tariff on all Chinese imports when he takes office on Jan. 20.

Source: The Star/Reuters

Malaysia urges Chinese firms to avoid using it to dodge US tariffs

Malaysia’s robust economic growth amid a global economic downturn provides a vital gateway for Chinese firms seeking to enter the Asean market, says Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

The Investment, Trade and Industry Minister said Malaysia’s vibrant open market and trade utility, backed by numerous bilateral and multilateral agreements, made the country a strategic base for investors wanting to export goods and services.

“We are also upgrading the China-Asean Trade and Services Agreement, which will further enhance trade opportunities.

“Our open market policy provides an excellent platform for businesses to leverage Malaysia as a hub for regional and global trade,” he told Malaysian and Chinese business leaders at the “Invest in Malaysia, Expand Beyond: A Global Vision for the Future” forum at the 5th World Association Presidents’ Conference (WAPC) here yesterday.

Tengku Zafrul highlighted several factors that gave Malaysia the edge as an investment destination.

“Our robust infrastructure, with strong energy capacity and a net zero target by 2050, supports extensive manufacturing exports, particularly in electrical and electronics (E&E) products,” he said.

The minister said Malaysia’s policy consistency, despite regime changes, fosters a stable environment for long-term business growth, especially in the semiconductor industry.

“Malaysia’s skilled and multilingual workforce also enhances its attractiveness. Our diverse talent pool makes Malaysia ideal for various industries,” he added.

He welcomed global companies to co-invest in five sectors where Malaysia has a competitive edge: E&E, chemical and petrochemical, digital economy, pharmaceuticals and medical devices, and aerospace, to help build a thriving ecosystem, and emphasised a collaborative approach for Asean and Malaysia to thrive.

“We don’t believe in a zero-sum game. A stronger Asean benefits us all, and we are committed to fostering sustainable, inclusive and equitable growth across the region,” he said.

On geopolitics, Tengku Zafrul said the evolving global landscape, particularly shifts in US policies, presents both challenges and opportunities, adding that many companies from China, Europe, the United States and Australia are seeking to “de-risk” their supply chains.

“Malaysia’s position as a neutral country within Asean makes it an attractive destination. We believe in Asean centrality and engage actively with all global partners,” he said.

Looking ahead, he said Malaysia is set to host the Asean-GCC China Summit next May 2025.

“The focus will also be on upgrading the Asean-China FTA next year, acknowledging China as Malaysia’s top trading partner for 15 consecutive years. This is expected to significantly boost trade between Asean, Malaysia and China,” he said.

Source: The Star

Tengku Zafrul: Malaysia perfect gateway to Asean markets

Malaysia intends to leverage its Asean chairmanship in 2025 to position the region, and the country itself, as a vibrant hub for investment, trade and industry, particularly in helping to make global supply chains resilient.

To this end, it is effectively working on aligning itself with the region’s bigger vision of attracting the right investments into Southeast Asia, Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said here on Monday. He said that Asean, which is “fiercely neutral and non-aligned, is in a truly sweet spot for attracting more investments, particularly in manufacturing.”

Manufacturing only comprised 22% cent in 2022 versus services which took up the lion’s share of almost 74% cent of investments into Asean, he said in his keynote address at the 5th World Association Presidents’ Conference here on Monday. He told participants at the conference entitled ‘Invest in Malaysia: Expand Beyond’ that Malaysia’s chairmanship will focus on upping investments in manufacturing, particularly on electric vehicles, semiconductors and the digital economy.

Tengku Zafrul also expressed optimism that Malaysia’s chairmanship in promoting cross-border investments such as with China and Middle East countries, will lead to transformative economic exchanges and innovations while driving substantial cross-regional economic growth and investments.

The theme for Malaysia’s upcoming chairmanship is “Inclusivity and Sustainability,” which “spells out Malaysia’s intention to guide Asean towards an equitable, sustainable and inclusive growth,” the minister said.

“As Asean advances its industrial goals, Malaysia’s contribution is in the form of its semiconductor capacity, which helps secure the global supply chain for this vital industry and which is recognised as the lifeblood of modern lifestyle, innovation and technological growth. This is why we came up with the National Semiconductor Strategy (NSS), which aims to strengthen Malaysia’s, and by extension, Asean’s position as a pivotal player in the global semiconductor landscape,” said Tengku Zafrul.

“Thanks to our clear policies, strong investment policies and rule of law, we have been recognised as an attractive destination for various investments such as semiconductors, medical devices and data centres,” he added. This has culminated in approved investments increasing by 18% for Malaysia as of June 2024, generating over 79,000 new jobs, he noted.

“This demonstrates Malaysia’s continued appeal to investors and resilience in the face of global economic uncertainty,” he said, adding that out of total foreign investments, 13% came from China.

“Moving forward, our vision is for both Asean and Malaysia to continue to attract global enterprises to invest in the abundant opportunities afforded by our diverse economies,” he said.

For Malaysia, at the heart of this pathway is the New Industrial Master Plan 2030 (NIMP 2030), a mission-based holistic industrial policy that aims to reform our industrial base from advancing economic complexity; to fostering digital vibrancy by integrating digital technologies across industries, and from pushing for Net Zero to safeguarding economic security and inclusivity, he said.

He said Asean’s senior economic officials were busy preparing for their upcoming meeting just two days away, on Dec 4-5 in Kota Kinabalu to finalise the Priority Economic Deliverables (or PEDs) that characterise the substantive targets for trade and investments in industry, to be achieved by the upcoming Chair or host country.

There would also be an Asean-Gulf Cooperation Council (GCC)-China Summit in May 2025, which is poised to be another landmark event on enhancing cross-regional investments, especially in sectors like semiconductors, electric vehicles, and renewable energy.

As Asean fosters stronger connections between Asia and the Middle East, “there are opportunities for all of us to help strengthen both regional and global supply chains through such multilateral dialogues.”

Malaysia’s agenda is to attract investments guided by policies such as the National Semiconductor Strategy, the New Energy Transition Roadmap, the Green Investment Strategy and its Circular Policy Framework for the Manufacturing Sector.

As chair, the minister said Malaysia will advocate for policies that promote social equity, financial accessibility, and inclusive participation in the Asean economic community.

“We aim to empower all segments of society, particularly women, youths and startups, ensuring that everyone has a chance to thrive and get a fair share of Asean’s prosperity.

Through the economic pillar, “our commitment to these goals are centred around four strategic thrusts, which are to enhance intra-Asean trade and investments, create an inclusive and sustainable future, promote the integration and connectivity of economies as well as build a digitally resilient Asean,” said Tengku Zafrul.

Source: Bernama

MITI ready to help secure global supply chains via Asean’s economic pillar — Tengku Zafrul

Perak recorded impressive investment performance from January to June this year, with total investments amounting to RM3.04 billion across 166 projects, the State Assembly was told today.

State Tourism, Industry, Investment and Corridor Development Committee chairman, Loh Sze Yee said out of the total, RM2.85 billion came from domestic investments, while RM184.2 million was from foreign investments.

He said the manufacturing sector contributed RM601.5 million from 30 projects (RM457.3 million in domestic investments and RM144.2 million in foreign investments), while the services sector accounted for RM2.44 billion from 136 projects (RM2.40 billion in domestic investments and RM40.0 million in foreign investments).

“These investments (in these sectors) are expected to create 1,560 job opportunities, with 1,249 jobs in the manufacturing sector and 311 jobs in the services sector,” he said during the question-and answer session.

Loh (PH-Jalong) was replying to a question from Ong Seng Guan (PH-Pokok Assam), who inquired about Perak’s investment performance, particularly in the industrial sector in Taiping this year.

Meanwhile, Loh noted that in Taiping alone, approved investments during the same period totalled RM272.7 million, comprising RM112.3 million in domestic investments and RM160.4 million in foreign
investments.

“These projects, managed under the Malaysian Investment Development Authority (MIDA), include 17 projects that are expected to create 277 job opportunities,” he added.

Source: Bernama

Perak draws over RM3 bln in investments from Jan-June 2024

As the ASEAN chair in 2025, Malaysia has the opportunity to boost investor confidence and continue positioning the region as a primary investment destination, said Prime Minister Datuk Seri Anwar Ibrahim.

In a post on Facebook today, he said that Malaysia is on the right track to strengthen its position as a trading nation and a rapidly growing economy despite geopolitical uncertainties.

“This afternoon, I took some time to discuss the global economic and financial situation when receiving a courtesy visit from HSBC Asia Pacific chairman Peter Wong, and HSBC Bank Malaysia chief executive officer Omar Siddiq, along with their delegation at my office.

“Insya-Allah, with the policies and direction of the MADANI government, these efforts will be integrated at the ASEAN level for the advancement and prosperity of the region,” Anwar said.

Source: Bernama

Opportunity for Malaysia to strengthen investor confidence in ASEAN – PM Anwar

We’re in a prime position to help chinese companies expand, says Wee

Malaysia is in a prime position to serve as a gateway for Chinese companies seeking to expand beyond China and tap into the Asean market, says MCA president Datuk Seri Dr Wee Ka Siong

He said Malaysia is a strategic hub in South-east Asia, which can be used by Chinese companies to expand their economic cooperation within Asean, while also leveraging it as a stepping stone to access global markets and explore further business opportunities.

“This is where the World Association Presidents’ Conference (WAPC) leverage these advantages and provide a platform for businesses from both countries to connect and cooperate,” Dr Wee said ahead of the 5th WAPC set to take place here today.

The conference, the first to be held outside China, serves as a vital platform for advancing Malaysia-china friendship and deepening cooperation within the Belt and Road Initiative (BRI), said Dr Wee.

He noted that the event will bring together more than 700 association and business leaders, facilitating the exploration of new opportunities, comprehension of emerging trends, and strategic adaptation to future challenges.

“The theme of the 5th WAPC is ‘Promoting Trade Liberalisation, Advancing Economic Globalisation’.

“Although the global economy shows signs of recovery post-pandemic, uncertainties such as trade wars persist. MCA aims to assist businesses in navigating these complexities while playing a bridging role to enhance Malaysia-china cooperation and further the BRI,” he said.

Dr Wee stressed the urgency for Malaysia to seize all available business opportunities, as neighbouring countries like Thailand, Vietnam and Cambodia are also actively vying for the lucrative Chinese market.

“We must act swiftly and strategically to ensure our competitive edge, leveraging our unique strengths to capture a significant share of the Chinese market. By doing so, Malaysia can secure its position as a key player in regional trade dynamics and maximise the benefits of its partnerships with China,” he said.

When asked about Chinese companies entering the Malaysian market, Dr Wee encouraged local businesses to remain confident and adapt to the changing landscape.

“We must seize opportunities and avoid stagnation. If they are leveraging artificial intelligence, we need to adjust accordingly,” he said.

Dr Wee also highlighted Malaysia’s strategic geographic position, robust technological foundation in the semiconductor and chip industries, and the thriving halal food sector as key assets that can drive future growth and successful collaborations with Chinese enterprises.

“With the right adjustments, we can go far. By preparing for challenges and forming strategic alliances in China’s vast market with its enormous domestic demand, we can effectively offer our products and services,” he said.

The WAPC, initiated in 2020 by China’s Hangzhou government, was created as a platform for global businesses to exchange ideas and foster cooperation during the Covid-19 pandemic.

The Malaysian edition is co-hosted by the MCA, Malaysia-china Friendship Association, and the China Enterprises Chamber of Commerce in Malaysia.

“The year 2024 marks the 50th anniversary of diplomatic relations between Malaysia and China. Both countries have always placed great importance on our bilateral ties, and we have engaged in exchanges and collaborations across various sectors.

“In September, we held in-depth discussions with the WAPC organising committee chairman Liu Jiang and his delegation, and reached a consensus to bring the conference to Malaysia,” said Dr Wee.

The conference will focus on four core areas – digital economy, healthcare, green energy and financial innovation – key sectors for global economic development and for deepening Malaysia-china cooperation.

Attendees will benefit from a comprehensive programme, including an economic forum, corporate matchmaking sessions, keynote speeches and a closed-door round-table meeting for presidents and CEOS.

Keynote speakers include Malaysia’s Deputy Prime Ministers, Cabinet ministers, and state leaders, who will discuss technology, investment, trade, Malaysia-china relations and government policies.

Business matching sessions will cover, among others, healthcare, halal industry, food and agriculture, real estate, industrial energy and digital commerce, offering targeted networking for the expected 700 entrepreneurs from Malaysia and China.

Six closed-door round-table meetings will be hosted by MCA leaders, focusing on topics such as biomedicine, green energy, food and agriculture, tourism, e-commerce and industrial parks.

Dr Wee said these sessions will provide opportunities for direct interaction with government representatives and industry leaders, facilitating new business opportunities.

“For example, our Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz will brief Chinese businesses interested in expanding into Malaysia. What’s greater than finding out from the minister himself about what to expect?” he asked.

Dr Wee also highlighted the significance of MCA in organising the conference, given its key role in fostering Malaysia-china diplomatic relations.

In the early 1970s, then MCA deputy president, the late Tun Michael Chen Wing Sum, led a delegation to China for a table tennis event, which paved the way for the establishment of formal diplomatic ties on May 31, 1974, through “ping-pong diplomacy”.

“Over the past 50 years, MCA has continued to play an active role in Malaysiachina relations.

“It is apparent from the Belt and Road Committee formed in 2013 to the Malaysiachina Belt and Road Economic and Trade Information Consultation Centre formed in October this year to promote bilateral economic and trade cooperation,” said Dr Wee.

The conference will culminate in a gala dinner celebrating the 50th anniversary of Malaysia-china diplomatic relations, where Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi will deliver a keynote address.

Taking place at Wisma MCA on Jalan Ampang here, the conference will utilise the building’s notable venues, including San Choon Hall and various meeting facilities across its floors, said Dr Wee.

“Surrounded by shopping malls, parks and other attractions, the location offers a range of leisure activities for the family members of attendees, providing them with ample opportunities to enjoy their time while the conference is under way,” he added.

Source: The Star

Malaysia can be the gateway

The development of Indonesia’s new capital, Nusantara or Ibu Kota Nusantara (IKN), represents one of Southeast Asia’s most ambitious urbanization projects, with far-reaching implications for regional economic growth and investment.

For Sabah’s investors and businessmen, IKN presents a golden opportunity to engage in diverse sectors ranging from infrastructure to green energy, real estate and technology.

An overview of IKN development

Spread over an expansive 322,429 hectares, IKN is envisioned as a sustainable and futuristic capital that balances urbanization with environmental conservation. The land area is divided into:

1. Core Government Central Area (KIPP): Spanning 6,671 hectares, this zone includes key government offices, the presidential palace, and other administrative buildings.

2. Urban Development Area (KIKN): Covering 56,159 hectares, this zone integrates educational, healthcare, research and commercial hubs.

3. Sustainable Development Zone (KPIKN): Spanning 196,501 hectares, this zone focuses on ecological preservation and sustainable urban development.

IKN also includes an additional 69,769 hectares of marine areas for public and logistical use, further solidifying its vision as a multifaceted capital.

Latest milestones in IKN construction

The construction progress in IKN underscores Indonesia’s commitment to its development goals. As of late 2024:

1. Infrastructure Progress:

• The presidential palace and national plaza are nearing completion with progress rates of 95.4% and 94.3%, respectively.

• Key highways and logistic ports have achieved 100% completion in their initial phases, ensuring efficient connectivity.

• The first phase of the solar power plant (10 MW) has been completed, with an additional 40 MW underway, reflecting IKN’s commitment to renewable energy.

2. Civil Development:

• Forty-seven high-rise residential towers for civil servants and security forces are under construction, with several already completed.

• Modern healthcare facilities, including hospitals specializing in oncology, cardiovascular care, and general medicine, are operational or in advanced stages of construction.

3. Green Initiatives:

• Significant investments have been made in water treatment plants, waste management systems, and the creation of expansive green spaces.

• The Sepaku Semoi Dam has been completed, ensuring long-term water security for the city.

Investment opportunities for Sabah entrepreneurs

For Sabah investors and businessmen, IKN offers a unique chance to leverage their expertise and resources in several high-potential sectors:

1. Infrastructure Development
IKN’s ongoing and planned infrastructure projects require expertise in:

• Road and bridge construction.

• Water supply systems and sewage treatment.

• Logistics facilities, including warehouses and transport hubs.

Sabah’s construction firms, equipped with experience in large-scale projects such as the Pan Borneo Highway, are well-positioned to contribute to these initiatives.

2. Renewable Energy

With an emphasis on green energy, IKN is actively developing solar, wind and hydropower projects. Sabah’s expertise in renewable energy, particularly in solar and micro-hydro projects, aligns with IKN’s sustainable development goals. Partnerships with Indonesian stakeholders could unlock cross-border opportunities in this sector.

3. Real Estate and Housing

The rising demand for residential, commercial and mixed-use properties in IKN presents lucrative opportunities. Sabah developers can collaborate with Indonesian counterparts to deliver housing solutions that cater to civil servants, expatriates and private sector employees relocating to the capital.

4. Healthcare and Education

With plans for advanced medical facilities and educational institutions, Sabah’s healthcare providers and academic institutions can explore joint ventures in:

• Hospital management and specialized care.

• Establishing international schools and vocational training centers.

5. Technology and Innovation

IKN aims to be a smart city with state-of-the-art digital infrastructure. This opens doors for Sabah’s tech entrepreneurs to offer solutions in:

• Smart transportation and energy grids.

• E-governance platforms and cybersecurity.

• Artificial intelligence and IoT applications.

6. Hospitality and Tourism

Given its MICE (Meetings, Incentives, Conferences, Exhibitions) facilities and green spaces, IKN is poised to become a hub for business tourism. Sabah’s hospitality brands and tour operators can expand their reach by investing in hotels, resorts, and event management services in IKN.

Policy support and collaboration opportunities

Indonesia’s government has introduced investor-friendly policies to encourage private and international investments in IKN. These include:

• Tax holidays and incentives for priority sectors.

• Simplified land acquisition and project approval processes.

• Public-private partnership (PPP) models to facilitate joint investments.

Sabah’s businessmen can also leverage regional platforms such as ASEAN to strengthen trade and investment ties. Collaborative efforts with Indonesian businesses, facilitated through trade missions and forums, can further enhance bilateral economic engagement.

The strategic advantage for Sabah

Sabah’s geographical proximity to Kalimantan, combined with its established industries in agriculture, energy and construction, positions it as a key partner in IKN’s development. Furthermore, Sabah’s membership in the BIMP-EAGA (Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area) provides a strategic framework for cross-border trade and collaboration.

Conclusion: Building the future together

The development of IKN signifies more than just the creation of a new capital; it represents a paradigm shift in sustainable urbanization and regional integration. For Sabah’s investors and businessmen, this is a once-in-a-lifetime opportunity to participate in shaping a transformative project that promises mutual economic growth.

By leveraging existing strengths, fostering strategic partnerships and embracing innovation, Sabah’s business community can play a pivotal role in IKN’s success story. The golden opportunities in IKN await those ready to seize them — the time to act is now.

Source: Borneo Post

Nusantara unlocks golden opportunities for Sabah investors, businessmen

Johor Menteri Besar Datuk Onn Hafiz Ghazi and his delegation will leave for the United Arab Emirates (UAE) on Monday, in a strategic bid to attract more foreign direct investments (FDI) to the state.

The trip will include working visits to key entities such as Abu Dhabi’s global investment firm and energy company, the Dubai International Financial Centre, the Jebel Ali Free Trade Zone, and meetings with potential investor companies.

The delegation will feature prominent figures including Johor’s Economic, Tourism and Cultural Office chairman Datuk Hasni Mohammad, State Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han, State Youth, Sports, Entrepreneur Development, Cooperatives and Human Resources Committee chairman Mohd Hairi Mad Shah, alongside representatives from Invest Johor, the Malaysia Investment Development Council (Mida), and the state’s National Sports Council.

Onn Hafiz said that this international push was a continuation of successful engagements in Singapore, China, Japan, and South Korea.

He said that a significant aspect of the trip would be a meeting with former UFC champion Khabib Nurmagomedov in Abu Dhabi to discuss Johor’s youth development programmes and the potential establishment of an official Khabib training gymnasium in the state.

Khabib, who previously expressed interest in investing in Johor, had earlier met Johor’s Regent Tunku Ismail Sultan Ibrahim in Johor Baru and had also engaged with Onn Hafiz and Prime Minister Datuk Seri Anwar Ibrahim during his recent visit to Malaysia.

Onn Hafiz said that promoting Johor on the international stage was vital for creating jobs, stimulating opportunities, and driving the state’s economic growth.

In October, he and his team engaged with 83 companies in South Korea, where they showcased the Johor-Singapore Special Economic Zone (JS-SEZ) initiatives.

They then visited Japan, where Fuji Oil Asia Pte Ltd signed a deal with Johor Plantations Group Bhd to establish a RM500 million refinery in Kota Tinggi.

In March, the delegation’s visit to China’s Shenzhen Special Economic Zone (SEZ) led to investment opportunities for Johor surpassing RM1 billion.

On the JS-SEZ, Onn Hafiz said that he recently held an online meeting with Finance Minister II Datuk Seri Amir Hamzah Azizan to finalise the agreement, which is set to be signed by Malaysia and Singapore in December.

“We are finalising incentives for all sectors and flagship areas. Execution will be our next challenge, as it’s not enough to have plans on paper,” he told the New Straits Times.

Johor is projected to achieve its highest-ever revenue this year, surpassing RM2 billion.

Onn Hafiz reiterated that the state government was committed to channelling this success into initiatives that benefit the people, ensuring economic growth translated into tangible improvements for Johoreans.

Source: NST

Onn Hafiz leads Johor’s UAE investment drive, meets MMA fighter Khabib

Malaysia’s diplomatic ties with the United States remain strong, sustaining a comprehensive partnership and cooperation, says Prime Minister Datuk Seri Anwar Ibrahim.

He noted that despite US Secretary of State Antony John Blinken’s impending departure from office, discussions and collaborations continue in areas of investment, trade, and diplomatic cooperation.

With a new US president and administration taking office, Malaysia expects these positive ties to continue.

“From January to October 2024, total bilateral trade between Malaysia and the United States saw a significant increase of 29.1% to RM264.28bil (US$57.76bil), up from RM204.78 bil (US$45.09bil), for the same period in 2023,” Anwar said during Minister Questions Time at Dewan Rakyat on Thursday (Nov 28).

He highlighted that 1,321 projects have been implemented and are ready to be managed, with a total investment amounting to US$39bil (RM173bil).

He was responding to RSN Rayer (PH-Jelutong) to ask the Prime Minister to state whether Malaysia faces any risk of trade sanctions from the United States due to the Prime Minister’s outspoken stance in defending the rights of the Palestinian people and nation.

However, the Prime Minister expressed concerns about recent developments, including tariff-related actions for Mexico, Canada, and China.

He said that these issues do not involve fundamental foreign matters but rather payment matters between the two countries where there is a deficit, as incoming US President Donald Trump announced during his campaign.

“We are now conducting all relations with the new team to the best ability.

“However, as a neighbouring and sovereign country, our position on international issues, including terrorism, injustice, oppression, and colonisation in Palestine and Gaza will continue to be voiced.

“I do not believe that economic considerations, while very important, can affect our stance or reduce or maintain our stance in voicing the rights, demands, and justice for the people of Palestine, especially in Gaza,” he added.

Source: The Star

Malaysia’s ties with US remain strong, says Anwar

Mexico and Malaysia can leverage on their respective strengths to explore collaboration opportunities across multiple sectors, said Ambassador of Mexico to Malaysia, Luis Javier Campuzano Piña.

In a statement from the Associated Chinese Chambers of Commerce and Industry of Sarawak (ACCCIS) today, he highlighted the thriving bilateral trade and investment potential between Malaysia and Mexico, during a visit to the association.

“Despite the geographical distance, bilateral trade is thriving.

“Malaysia is currently Mexico’s 9th largest trading partner, offering significant opportunities for businesses and entrepreneurs in both countries,” he said.

His visit to the ACCCIS today also discussed in depth on key areas of collaboration, including the Sarawak’s Post-Covid-19 Development Strategy 2030; renewable energy such as hydropower and solar, oil and gas; technology industries like semiconductors and aerospace, plantation, education; and the Autonomous Rapid Transit (ART) system.

The meeting fostered a friendly atmosphere, with both parties agreeing to maintain close ties and explore joint initiatives.

Among the plans discussed was an online business matching session, aimed at connecting entrepreneurs from both countries to create mutually beneficial business opportunities.

The visit underscores the commitment to strengthening the trade and cultural bonds between Malaysia and Mexico, paving the way for future collaboration across various sectors.

Present during Campuzano’s visit were ACCCIS Deputy Chairman of the Construction, Property, and Infrastructure Committee Fam Khing Foh; ACCCIS Deputy Chairman of the Commerce Committee Ho Siew Hua; ACCCIS Deputy Chairman of the Legal Affairs Committee Su Chua Phin; and ACCCIS secretary-general Dato Jonathan Chai.

Source: Borneo Post

Mexico, Malaysia can leverage strength to explore collab opportunities, says ambassador

Singapore, Australia, Japan and Malaysia lead the rankings as Asia-Pacific’s (APAC) leading lifestyle and investment hotspots, according to global real estate consultancy and estate agency, Knight Frank.

In its latest report, Quality Life-ing: Mapping Prime Residential Hotspots, Knight Frank evaluated 15 prominent markets based on five leading indicators: Economy, Human Capital, Quality of Life, Environment, and Infrastructure and Mobility.

“This comprehensive analysis aims to assist prospective movers in identifying the ideal location which aligns with their specific needs and preferences,” it said in a statement today.

According to the report, Malaysia, emerging as a hub for technological innovation, is attracting major tech companies like Oracle and Microsoft due to its favourable business climate.

“The country’s prime residential market is poised for stability and gradual growth, reflecting the broaderresilience of the APAC region’s real estate sector.

“Kuala Lumpur also remains the most affordable market in APAC, with prime residential prices at US$242 per square feet, making it a top choice for expatriate relocations,” said Knight Frank (US$1=RM4.455).

It added that despite facing challenges from rising interest rates, the Malaysian property market has shown signs of recovery, with significant transactions recorded in early 2024.

“The government’s initiatives, such as maintaining interest rates at 3.0 per cent and offering stamp duty exemptions for first-time homebuyers, are expected to stimulate demand.

“Kuala Lumpur is a focal point for this growth, where new residential projects are catering to evolving buyer preferences, particularly among single-family households seeking lifestyle-oriented developments,” said the agency.

It also said that the appeal of Malaysia’s real estate is enhanced by its strategic location and cultural richness, making it an attractive option for both local and foreign investors looking for quality residential opportunities.

Knight Frank Malaysia group managing director Keith Ooi said Malaysia’s unique position as a rising hub for technological innovation is attracting global attention, especially in the realm of digital transformation.

“The presence of major players like Oracle and Microsoft, coupled with competitive wages and a business-friendly environment, underscores the nation’s growing appeal as a strategic destination for investment,” he said.

With initiatives such as zero-tax incentives for family offices in Forest City, Ooi said Malaysia is positioning itself as an alternative wealth management hub to complement the likes of Singapore and Hong Kong.

“This momentum, combined with the country’s rich cultural heritage and affordable quality of life, makes Malaysia a compelling choice for individuals and businesses seeking long-term growth opportunities in Asia-Pacific,” he said.

Source: Bernama

Knight Frank: Malaysia among APAC’s leading lifestyle and investment hotspots

Johor has managed to secure investment potential worth more than US$190 million (RM850 million) through several prominent South Korean companies during a recent working visit, said Johor Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han.

He said the investment potential was a result of a recent visit by Johor Menteri Besar Datuk Onn Hafiz Ghazi and a state delegation to South Korea.

“The delegation held meetings with several prominent companies there, including Hanwha Solutions Corporation, SPC Group, LG Chems and CJ CheilJedang Group. These companies have shown interest in investing in sectors such as clean energy, chemicals and the halal food industry.

“For example, Hanwha Solutions Corporation is known for its innovation in clean energy and chemical sectors, while SPC Group is a global food company that leads the market with famous brands such as Paris Baguette,” he said at the Johor state legislative assembly session in Kota Iskandar here today.

Lee (BN-Paloh) was responding to a question by Amira Aisya Abd Aziz (Muda-Puteri Wangsa) regarding the outcome of a recent state working visit to South Korea and the estimated investment that will enter Johor.

Lee said that among the locations that will be the focus for several of the proposed investments are the Tanjung Langsat Industrial Complex and the Pengerang Petroleum Integrated Complex (PIPC).

He pointed out that the two locations are very strategic and includes infrastructure as well as support facilities for the chemical and petrochemical industries.

“Apart from that, other industrial areas that are focal locations are the Ibrahim Technopolis (IBTEC), Iskandar Halal Park, Eco Business Park, Nusajaya Tech Park, AME I Park and Senai Airport City which provide good basic infrastructure.

“The state government is confident that the results of this working visit will have a huge positive impact on Johor, not only in terms of economic growth but also through the development of sustainable strategic industries.

“With a more organised investment ecosystem, Johor will continue to remain one of the most competitive states in Malaysia and the region,” he said.

The Johor government engaged in meetings with several major South Korean companies, aiming to bring potential investments worth US$190 million into the state, during a four-day working visit to Seoul on October 28.

Onn Hafiz, who led the delegation, was reported saying that the potential investments would create high-income jobs and drive economic growth, benefiting the people of Johor.

Source: Malay Mail

Johor eyes RM850m boost with South Korean investment potential in clean energy, halal sectors, state assembly told

Prime Minister Datuk Seri Anwar Ibrahim’s mission is to enhance ASEAN trade and investment, which he believes are currently insufficient, as Malaysia prepares to assume the ASEAN chairmanship in 2025.

To this end, Anwar said he would dedicate his efforts to zoom in on empowering the ASEAN Power Grid and push further for common digitalisation among regional economies.

He would also dedicate his efforts as chair of the regional grouping to bolster ties with ASEAN’s traditional allies comprising the economic giants of China, Japan and South Korea.

These initiatives would be his prime focus to make Southeast Asia a more vibrant economic region, the prime minister said in his special address at Seoul National University today.

Anwar said that such an approach was imperative as ASEAN happens to be the most peaceful and dynamic economic region in the world for which its economic potential should be fully realised.

Against such a backdrop, he said that it is timely that Malaysia is assuming the ASEAN chairmanship next year as it would be wellplaced to bolster regional trade and investments.

Anwar, who is also Finance Minister, said the collaboration and the working relations between the 10 ASEAN leaders are also excellent, something which is advantageous to making collective decisions and taking commercial linkages to a significantly higher plane.

In working with China, Japan and South Korea, he said South Korea is an important traditional ally and that Seoul has done enormously well and is known to every single household.

Anwar highlighted that with more engagements with these three countries based on friendship and trust, the more ASEAN would be able to deal with more complex issues.

Noting that Malaysia is fortunate to host major international companies such as Oracle, AWS, Google, Microsoft, Nvidia, and Infineon, the country has become a hub for their business activities.

This has enabled Malaysia to establish itself as a regional centre for data and artificial intelligence (AI).

In addition, this is positioning Malaysia as a key hub for the global semiconductor sector.“Our advantages have got us to economically engage with all countries (such as) the United States, Europe, China, South Korea and Japan,” he said.

Source: Bernama

PM Anwar’s mission to boost ASEAN trade and investment as chair of ASEAN

Prime Minister Datuk Seri Anwar Ibrahim held a meeting on Tuesday with tycoons from several family-owned conglomerates, locally known as ‘chaebols’, as part of efforts to attract more foreign direct investment (FDI) into Malaysia.

Chaebols are large, family-owned industrial conglomerates in South Korea, which have traditionally enjoyed close ties with the government.

Federal support for these entities began after the Korean War as part of efforts to rebuild the nation’s economy.

Anwar, the finance minister, is also scheduled to hold one-on-one meetings starting at 9am (South Korea time) with major corporations including Samsung Group, SK Nexilis, Posco Group and Lotte International.

These discussions align with Malaysia’s strategy to secure ‘high-value, high-growth’ investments from the Republic of Korea.

Source: Bernama

Anwar meets South Korea’s business tycoons, eyes more investments

The Malaysian delegation to South Korea led by Prime Minister Datuk Seri Anwar Ibrahim has secured RM32.8 billion in potential investments.

Anwar said meetings with chaebol (conglomerates) and several prominent South Korean companies had generated high-impact investment prospects.

“Thus far, the potential investments generated from this visit have reached RM32.8 billion, with immediate exports from Malaysia amounting to RM1.3 billion,” he said during a press conference with Malaysian media here today.

He concluded his three-day official visit to South Korea today following an invitation from President Yoon Suk Yeol.

His visit since Sunday had further strengthened bilateral relations between the two nations.

Meetings with major South Korean companies have also opened doors to attract high-impact investments to Malaysia.

In response to a question regarding Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor’s allegations of a plot to derail private investments in the state, Anwar said: “I (Anwar) am also Kedah’s agent for bringing in foreign investments.

“Even though he (Sanusi) says so, I still support Hyundai’s investment (in Kulim).

“(Although) there were other potential locations, due to the infrastructure provided and export channels via Penang Port and Penang Airport, we suggested Kulim.”

Currently, about 400 South Korean companies operate in Malaysia across various sectors, including construction.

Investment, Trade, and Industry Minister Datuk Seri Tengku Zafrul Tengku Aziz, who accompanied the prime minister on the visit, said the potential investments were in sectors such as electric vehicles (EVs), EV-related metals, biopharmaceuticals, green technology, carbon capture and storage, and green hydrogen.

“So far, only Hyundai Motor has made an official announcement, following the approval of their commitment by its board of directors,” he said.

Today, Hyundai Motor announced a USD 479 million (about RM2.14 billion) investment in Malaysia over the next five years, starting in 2025.

Hyundai Motor will collaborate with local company Inokom Corporation Sdn Bhd to upgrade its manufacturing plant in Kulim.

The upgraded facility is scheduled to begin production of Hyundai’s multi-purpose vehicles (MPVs) and Staria minivans by mid-2025.

It plans to expand its range to include medium—to large-sized SUVs.

Hyundai Motor said production would begin at 20,000 units per year, with plans for expansion.

Source: NST

Malaysia secures RM32.8bil in potential investments from South Korea