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Tengku Zafrul: Malaysia continues to attract foreign investments from global companies

Tengku Zafrul: Malaysia continues to attract foreign investments from global companies

20 Sep 2023

Malaysia continues to attract big investments from global companies due to its current political stability, strong supply chain ecosystem and the “top salesman” role being played by Prime Minister Datuk Seri Anwar Ibrahim.

Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz said the United States (US)-China trade war was also benefitting Asean countries, with some companies relocating to Malaysia and Vietnam to realign their supply chain.

According to him, Malaysia’s political situation is no longer a major concern among potential investors.

“Our prime minister is Malaysia’s top salesman. He makes my job easier,” Tengku Zafrul said in jest during a press conference with the Malaysian media on the sidelines of the 78th session of the United Nations General Assembly (UNGA) here.

According to Tengku Zafrul, Anwar’s influence and hard work being put by him were obvious during several international engagements, including the recent Asean Summit in Jakarta and the gruelling 14-hour scheduled working visit to Nanning, China just a few days ago.

“He attended the Malaysia Day celebration in Kuching and then immediately flew to Nanning where he arrived at 4am.

“During his short stay in Nanning, the prime minister attended several events and met with China’s Premier Li Qiang, the third such meeting between them this year,” he said.

Anwar also met with Chinese investors in Malaysia, China Communications Construction Company (CCCC) and Huawei, and witnessed the exchange of three memoranda of understanding (MoU) worth RM19.84 billion between companies from both countries.

The prime minister will also be meeting with captains of industry when he arrives in New York on Wednesday to attend the UNGA, said Tengku Zafrul.

Anwar, who is also Malaysia’s finance minister, is scheduled to participate in a roundtable discussion with Fortune 500 Companies, as well as an engagement session with Invest Malaysia New York.

He will also hold meetings with entrepreneurs and potential new investors from the US, such as Boeing, Kimberly Clark, Phillip Morris International, and Procter & Gamble (P&G).

Source: Bernama