Malaysia boosts ties with UAE, offers investments in food security, Bandar Malaysia - MIDA | Malaysian Investment Development Authority
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Malaysia boosts ties with UAE, offers investments in food security, Bandar Malaysia

Malaysia boosts ties with UAE, offers investments in food security, Bandar Malaysia

27 Sep 2022

Malaysia’s ties with the United Arab Emirates (UAE) will be elevated to a strategic partnership.

This will pave the way for collaborations in the economy, investment and trade, renewable energy, food security and oil and gas, among others.

This was discussed by Prime Minister Datuk Seri Ismail Sabri Yaakob when he met President Sheikh Mohamed bin Zayed Al Nahyan at Qasr Al Shati, here yesterday.

On food security, the prime minister offered the UAE reciprocal investments in the field of agriculture, in line with the country’s plans to become an export hub.

Previously, Qatar invested in the Baladna Food Industries Group joint venture project for the supply of food and dairy products with FGV Holdings Bhd and Felcra Bhd worth RM4.2 billion in Perlis and Pahang.

“For that purpose, we agreed to form a joint working committee with the UAE to discuss the details,” Ismail Sabri said during a press conference here today.

Malaysia also officially invited the UAE to explore opportunities in the development of the revised Bandar Malaysia project by providing a package for more investors to participate.

A package is also being drawn up by the Finance Ministry and the Economic Planning Unit (EPU) which is basically similar to the initial planning of Bandar Malaysia.

He also visited the Abu Dhabi National Oil Company (ADNOC) headquarters and was briefed on the UAE oil and gas company.

He said Malaysian companies were interested in collaborating with UAE firms in the petroleum industry, including in the upstream sector and liquefied natural gas, renewable energy, fertilisers and carbon dioxide.

“This joint venture is important to continue to progress and ensure an organised and equitable supply of energy in the era of energy transition,” he said.

Regarding trade, the value of trade increased by 90.4 per cent for the first eight months of 2022, which is RM25.60 billion, exceeding the total value in 2021, which was RM22.29 billion

“With the data for this eight-month period, this year’s trade value is expected to record the highest value,” said Ismail Sabri.

He also informed Sheikh Mohamed that the Sheikh Zayed Al Nahyan Chair in the Malaysian Institute of Strategic and International Studies (ISIS) had been established with a donation of RM30 million.

It aims to promote universal peace for research, conferences and international dialogue.

Regarding his first working visit to the UAE and the atmosphere of the meeting with Sheikh Mohamed at his residence, the prime minister said it took place in a friendly and family spirit that showed the closeness of Malaysia-UAE relations.

Ismail Sabri also took the opportunity to congratulate Sheikh Mohamed on his appointment as the third president of the UAE and his membership as a non-permanent member of the UN Security Council for the 2022/23 session.

He said he hoped the UAE would play an active role in highlighting international issues such as Palestine and the Rohingya refugees from Myanmar.

In addition, the UAE president supported Malaysia’s view during the 77th UN General Assembly (UNGA) that the veto power of the Security Council be reviewed.

The UAE president also appreciated the contribution of more than 6,000 Malaysians working in the UAE and invited more to come and work in the country.

Source: NST