Qatar ‘big guns’ of industries attend roundtable meeting with PM Anwar - MIDA | Malaysian Investment Development Authority
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Qatar ‘big guns’ of industries attend roundtable meeting with PM Anwar

Qatar ‘big guns’ of industries attend roundtable meeting with PM Anwar

13 May 2024

Estithmar Holding and Baladna are among Qatar’s largest companies by market capitalisation that attended a roundtable meeting hosted by Malaysia’s Ministry of Investment, Trade and Industry (MITI).

Established in 2014, Baladna, which is a public shareholding company, is Qatar’s largest dairy and beverage producer, supplying over 95 per cent of the country’s fresh milk.

Meanwhile, Estithmar Holding is a Qatari public listed company with a diverse portfolio of 51 companies operating in four strategic sectors namely healthcare, services, contracting and industries, as well as ventures.

The roundtable meeting with these captains of industry is part of Malaysia’s aggressive efforts to attract more high quality investments into the country.

More than 30 top executives and business leaders took the opportunity to meet with Prime Minister Datuk Seri Anwar Ibrahim, as he briefed them on the latest investment climate in Malaysia, while convincing them that the country could be their preferred investment destination and competitive trade partner.

Anwar, who is also the Finance Minister, is currently on a three-day official visit to the capital as part of his mission to increase Malaysia’s visibility as a potential investment destination to the Qataris.

The companies that attended the roundtable are mostly from the services, manufacturing as well as investment sectors.

Other companies that attended include Taleb Group, Morex Group, Tamam Capital and Al Mana Group.

Anwar spent about one hour in an interactive session to engage and update Qatari businessmen on the Malaysian economy, business ecosystem as well as the New Industrial Master Plan 2030.

The session was moderated by MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Apart from attracting potential investments through this meeting, Malaysia is also keen to woo more interest and increase awareness from the Qatari business community to source more products as well as services from Malaysia.

This is seen as vital as the two countries embark on a new phase of cooperation as they celebrate the 50th anniversary of bilateral trade this year.

Last year, Malaysia’s total bilateral trade with Qatar amounted to RM4.2 billion, as the Gulf state became Malaysia’s fifth-largest trading partner, sixth-largest export destination and sixth-largest import source from the West Asia region.

From January to March 2024, Malaysia’s total trade with Qatar increased by 178.4 per cent to US$303.9 million (RM1.43 billion) compared with US$116.7 million (RM514.9 million) for the corresponding period in 2023.

According to the International Monetary Fund, Qatar is among the richest countries in the world, with a per capita income of nearly US$96,610 in 2020.

It was reported that petroleum and natural gas are the cornerstones of its economy, with Qatar home to one of the largest reserves of natural gas in the world.

Source: Bernama