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Anwar: Malaysia is the place to invest in

Anwar: Malaysia is the place to invest in

24 Mar 2023

Prime Minister Datuk Seri Anwar Ibrahim wants the Arab world to know that Malaysia, with its robust reforms, is the place for them to invest in.

Malaysia, he assured them, is led by a stable government, that not only had laid out clear policies, but was also committed to ensuring a business-friendly environment for foreign investors.

In his message to the business community in Saudi Arabia, Anwar asked them to continue to look at Malaysia as their preferred investment destination.

He said his leadership, encapsulated in the ‘Malaysia Madani’ concept, assured them that doing business across a broad spectrum of sectors, would be a lot easier.

“I would appeal therefore to the business community, to send delegations and meet your counterparts in Malaysia… soon after Ramadan.

“We encourage you to invest in areas we regard as our priority, including in digital technology, food security, and of course, in general infrastructure development.

“We look forward to your active participation in Malaysia,” Anwar said in his keynote address to Saudi and Malaysian business communities at the Islamic Development Bank (ISDB) headquarters, here yesterday.

At the event, Anwar singled out the Malaysian Anti-Corruption Commission chief commissioner, Tan Sri Azam Baki, who was in the audience, telling the business community that the chief graft buster was also at the forefront in upholding Malaysia’s push for transparency.

He said Malaysia was focused on further accelerating reforms, and strengthening its fundamental principles, including good governance.

“It is about setting a good example, cleaning up the mess, to make sure the country conducts its affairs based on sound values and principles, ending endemic corruption, arrogance with power, and making sure that the people are the priority.

“The focus is also in ensuring the active participation of the country’s entire economic chain and social programmes,” he said.

The prime minister, who is accompanied by his wife Datuk Seri Wan Azizah Wan Ismail, Foreign Minister Datuk Seri Dr Zambry Abdul Kadir, and Communications and Digital Minister Fahmi Fadzil, is on a three-day official visit to the kingdom.

Anwar said Malaysia and Saudi Arabia enjoyed a healthy reciprocal relationship, where investments were concerned.

“We have had some investments in infrastructure (from Saudi Arabia) and it is also amazing that Malaysia, with a small economy compared to Saudi Arabia’s, has investments here.

“I strongly welcome your support because it will make a lot of difference to the Muslim world, and hence, promote a more vibrant economic relations,” he added.

Anwar shared with his audience Malaysia’s vast potential and attractiveness as an investment destination, which recently saw Amazon Web Services (AWS) committing to an investment of RM25.5 billion in the country.

For the record, as Finance Minister, Anwar is also ISDB governor for Malaysia.

He said efforts must be made to ensure that the bank’s centre in Kuala Lumpur builds on its presence, and that the ISDB Centre of Excellence explores new fields and disciplines that would benefit the ummah.

“Use this centre in all fields, including in halal research, even vaccines.

“Focus on new challenges, science, technology, innovation, food security, digitalisation, and artificial intelligence,” he said.

Anwar yesterday also attended iftar at the Malaysian consulate here, where he shared Kuala Lumpur’s story in fighting the scourge of corruption and righting social injustices, which, if allowed to fester, would only hinder Malaysia’s ambition of becoming a prosperous and progressive nation.

Source: NST