Tengku Zafrul: Vast opportunities for Malaysia, UAE in trade, investments
06 Oct 2023
Malaysia foresees vast trade and investment opportunities for the country and the United Arab Emirates to seize, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
He said the UAE has always been a gateway for Malaysia to enter the West Asian market, adding that in terms of investments, the UAE is currently the largest investor in Malaysia from the region and the second largest among Organisation of Islamic Cooperation member states.
“To date, implemented investments from the UAE amount to US$388.8 million (RM1.48 billion) in various manufacturing projects in Malaysia,” he said in his opening remarks during a roundtable meeting between Prime Minister Datuk Seri Anwar Ibrahim with captains of industry in the UAE on Thursday.
He noted that Asean offers vast potential, given its population of 678 million and a combined gross domestic product of US$3.7 trillion in 2022.
Also present were Foreign Minister Datuk Seri Dr Zambry Abdul Kadir and UAE Minister of State for Foreign Trade Dr Thani Ahmed Al Zeyoudi.