Prime Minister Datuk Seri Anwar Ibrahim said his six-day visit to Germany has achieved its objective of not only strengthening the solid ties between the two countries, but also boosted trade and investment opportunities for Malaysia.

He said what was key were his lengthy discussions with German Chancellor Olaf Scholz, Vice Chancellor Robert Habeck and President Frank-Walter Steinmeier, which had touched on cooperation in investment, tourism, education as well as diplomatic issues including Gaza and Ukraine.

On investments, Anwar said Malaysia has secured new potential investment commitments totaling RM45.4 billion following meetings with 38 major companies.

The main investments, he said, would come from seven European companies which are based in Germany.

“Projects under X-Fab, Melexis and Schott Glass, which were approved in 2023 with a total investment value of RM4.45 billion, are expected to generate some 1,000 job opportunities,” he told the Malaysian media at the end of his six-day official visit to Germany today.

He said Infineon Technologies AG, Germany’s largest semiconductor manufacturer, has agreed to invest 5 billion euros in Malaysia while X-Fab will begin investing significantly in Sarawak.

He also noted that over the past week, reports from the Financial Times and New York Times has placed Malaysia as a major regional hub for the development of the semiconductor industry.

He said the visit to Germany also successfully secured an additional RM1.4 billion in potential sales of Malaysia’s export of products and services to Germany in the aerospace sector over the next 5 years to Airbus.

“Airbus, which already has a presence in Malaysia, has agreed to increase their investment in the country, with a focus on Negri Sembilan and Subang, Selangor,” he said.

The prime minister said he also met with top executives of Dutch semiconductor company Nexperia BV, including its chief executive officer Xuezheng Zhang.

Nexperia, he said, has expressed an readiness to make Malaysia their main investment destination.

Anwar said what made Malaysia an enticing investment destination for these companies were political stability and clear policies.

“Our green policies, including energy transition and renewable energy, our research in hydrogen and solar, these are among the factors which drew their attention to come and invest in Malaysia,” he said.

The prime minister said Malaysia’s participation in the SME Future Day in Berlin was also an eye-opener for German SMEs as the level of coverage accorded to the event in Malaysia was significant.

Anwar had delivered a keynote address at the event.

During his visit, the prime minister held a roundtable meeting with German captains of industry as well as private meetings with senior management of selected companies.

They included representatives from Schott AG; Siemens AG; B. Braun; X-Fab Silicon Foundries, Melexis, Volkswagen; Oldenburger Interior; PCC SE; Oryx Stainless; Fresenius; DELO Industries Klebstoffe; Airbus Asia Pacific as well as Airbus Malaysia; Infineon Technology, DHL; Bayer AG and others.

Germany has been Malaysia’s largest trading partner among European Union members since 2000, while Malaysia is Germany’s biggest trading partner in Asean.

In 2023, Malaysia’s total trade with Germany rose by 5.9 per cent to RM63.45 billion (US$13.90 billion) compared to RM59.87 billion (US$13.62 billion) in 2022.

Meanwhile, on world issues, Anwar said while Malaysia and Germany may share different viewpoints on the situation in Gaza, both nevertheless agree that a peaceful and humanitarian solution are imperative.

Anwar said he has extended invitations to Schulz and Habeck to visit Malaysia this year.

Source: NST

PM: Germany visit achieved both bilateral and investment objectives

The Northern Corridor Implementation Authority (NCIA), in collaboration with the Penang government, has facilitated a significant investment of RM13.67 billion in Penang last year, resulting in the creation of over 14,000 job opportunities.555500:10/01:59

Chief Minister Chow Kon Yeow commended NCIA for its role in attracting such substantial investments, which he attributed to investors’ confidence in Penang’s long-term prospects and the Northern Corridor Economic Region (NCER) as a whole.

Chow expressed appreciation for NCIA’s efforts to enhance Penang’s appeal to investors, particularly in areas such as technology development and skilled talent, beyond the traditional sectors of Electrical and Electronics (E&E) and Machinery and Equipment (M&E).

He highlighted the NCER Technology Innovation Center (NTIC) as an example of a program aimed at bolstering the industrial ecosystem, fostering innovative activities, research and development (R&D), and enhancing the value chain for small and medium enterprises (SMEs).

“(These initiatives) will further establish Penang as a hub for technology and innovation in the region.”

Chow made these remarks at an appreciation ceremony for companies involved in the Center of Excellence (CoE) Programme under NTIC, following a meeting of the Penang state steering committee.

He attributed Penang’s remarkable investment inflow of RM71.9 billion in 2023, the highest in Malaysia, to the state’s clear, investor-friendly, and competitive economic policies at the regional level.

“Undoubtedly, this extraordinary growth was driven by foreign direct investment (FDI) which accounted for RM61.7 billion or 85.81 per cent of Penang’s manufacturing investment inflow in the period in question.”

NCIA chief executive Mohamad Haris Kader Sultan credited the RM13.67 billion investment success to close cooperation with stakeholders, including the federal and state governments, as well as state government agencies.

He noted that investments covered focus sectors outlined in the NCER Strategic Development Plan, such as manufacturing, agribusiness, logistics, digital economy, and tourism.

Haris also highlighted the positive impact of the NCER’s talent development program, which has benefited over 4,955 micro, small, and medium enterprises (MSMEs) and created more than 16,100 job opportunities in Penang.

During the NTIC program’s certificate presentation ceremony, five companies were appointed as CoE providers for NTIC, focusing on supporting local SMEs under the NTIC CoE User programme.

“So far, there are eight SME companies in Penang that have registered for the NTIC CoE User programme.

“Twelve NTIC CoE providers from Penang have been appointed since the launch in May 2023 with a total of RM73.67 million investment recorded,” he added.

NTIC, an initiative focusing on research, design, technology, innovation, and commercialization, serves as a primary platform to attract technology-related businesses to NCER, particularly in Penang, through collaboration between local SMEs, multinational companies, and academia.

Source: NST

Penang’s economic triumph: RM13.67 billion investment, 14,000 jobs created in 2023

Deputy Premier Datuk Amar Awang Tengah Ali Hasan yesterday met several potential investors in Singapore to explore investment opportunities in Sarawak.

Among them was Kuok Group, represented by Kuok Meng Wei, to discuss the potential of the company investing in green and renewable energy projects in the state.

Kuok is also the chief executive officer and managing director of K2 Strategies.

“The Deputy Premier welcomes the interest (of investment) from the company as it is in line with the Post Covid-19 Development Strategy 2030,” said a press release issued following the visit in Singapore yesterday.

Another press release said Awang Tengah, who is Minister for International Trade, Industry and Investment, also took time to discuss with investors from UOB Group, Eastspring Investments, Two Family Office and Chemsain to explore investment opportunities in Sarawak, especially in the renewable energy as well as green and digital economy projects.

Among those present were Sarawak Timber Industry Development Corporation general manager Zainal Abidin Abdullah and advisor Datu Hashim Bojet, InvestSarawak chief executive officer Timothy Ong and Pusaka Capital Sdn Bhd chief executive officer Mohamad Nor Topek Julaihi. 

Source; Borneo Post

Sarawak deputy premier meets several potential investors in Singapore

Malaysia has begun exploring the possibility of restarting discussions on the Malaysia-European Union Free Trade Agreement (MEUFTA), which has been stalled since 2012.

The MEUFTA was among the issues discussed between Prime Minister Datuk Seri Anwar Ibrahim and German vice-chancellor Robert Habeck, who is also Germany’s federal minister for economic affairs and climate action.

Their meeting was held on the sidelines of the annual SME Day, – also known as the Mittelstand – at STATION Berlin here today.

Anwar said they were hoping for a positive outcome of the scoping exercise between technical experts of both sides.

“We hope to move forward on MEUFTA soon and for both sides to start discussions,” he said.

Negotiations on the MEUFTA were formally launched on Oct 5, 2010, with eight rounds of negotiations between Dec 2010 and Sept 2012.

However, the negotiations reached an impasse in 2012 as both sides had had exhausted their negotiating options at that time.

It was subsequently agreed that negotiations will resume when a fresh mandate and/or flexibilities become available to both sides.

Germany is Malaysia’s largest trading partner within the European Union, with a trade value of almost US$14 billion.

Total investments in manufacturing projects meanwhile totalled US$14 billion, involving companies such as Infineon, B. Braun, Osram and Bosch, creating over 70,000 jobs.

Anwar is on a six-day visit to Germany, his first since becoming prime minister. He had engagements with various companies and captains of industry from all over Germany, which have already resulted in new investments pledges amounting to 868 million Euros (RM4.45 billion).

Meanwhile, Anwar, in his talk with Habeck, also expressed concern that EU policies on climate change including its Deforestation Regulation may serve as a form of non-tariff trade measure.

The prime minister urged Germany to adopt a more inclusive and fair approach.

On March 6, Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani said the World Trade Organisation (WTO) panel had issued its final report and concluded that the European Delegated Act that restricted palm oil biofuels, was deemed discriminatory towards the country’s palm oil biofuel.

The dispute dates to 2018 when the EU issued regulations on the minimum amount of renewable fuels that member countries must use in their transport sectors.

The EU stipulated that the use of biofuels for which forests had been cleared for planting could not be used to achieve this target. This primarily concerned oil palm crops.

Malaysia, which has a major palm oil production industry, had defended that the measures violated fair trade practices and launched a lawsuit against the WTO in 2021.

Anwar said he also expressed to Habeck Malaysia’s interest in joining the Climate Club, a 38-member intergovernmental forum for exchange on industry decarbonisation.

Malaysia, he said, also welcomed Germany’s support in capacity-building, technology transfer and financial assistance.

On capacity building and skills enhancement, Anwar proposed a collaboration to boost skills of Micro, Small and Medium Enterprises (MSME) via joint trainings, workshops, mentorship programmes.

Source: NST

Malaysia exploring possibility of restarting discussions on Malaysia-EU FTA

Malaysia today made an open invitation to German firms, as well as businesses across Europe, to engage, invest, and partner with a dynamic, strategic and growing Malaysia.

In making the call, Prime Minister Datuk Seri Anwar Ibrahim said Malaysia has a skilled labour force, modern infrastructure, a clear regulatory environment, and huge growth potential.

“We are a dynamic economic fit for the 21st century and the perfect partner for German businesses,” he said in his keynote address at the SME Day here.

Held at the Berlin Station and organised by the German Association for Small and Medium-sized Businesses (BVMW), it brings together about 5,000 SMEs with prominent government and corporate figures.

Anwar, who is on a six-day official visit to the third largest economy in the world, said Malaysia also provides Germany with a strategic gateway into the wider Asean market. “Asean is set to emerge as the world’s fifth-largest economy by 2030. The region is primed for exponential growth,” he added.

Over the past decade, Germany has remained Malaysia’s top trading partner in the European Union, while Malaysia is now the country’s largest trading partner in Southeast Asia.

Bilateral trade has grown by leaps and bounds, at an annual average of 5.2 per cent. Malaysia continues to be an attractive destination for FDIs with German companies investing €8.5 billion (RM43.6 billion) as of 2023.

Anwar, who is also the finance minister, said foreign investors can benefit from various efforts taken by the government to ease the doing of business, build confidence in the Malaysian system, and ultimately, ensure long-term stability in the country.

SMEs and the digital economy During meetings with German businesses and investors, Anwar told them Malaysia is also a gateway to the Halal ecosystem and the digital economy. He told them as Germany aims to penetrate halal markets, Malaysia, a leader in the multibillion-dollar industry, stands as an ideal partner, offering expertise, infrastructure, and a robust halal regulatory framework.

In his speech today, the prime minister also said that both countries and their economies are built on a common foundation, which is small and medium enterprises (SMEs), although Germany’s SME sector is huge.

Anwar said Germany is a source of inspiration as it emerged strongly and confidently despite its cities being destroyed after World War Two.

He noted that more than 700 German companies are operating in Malaysia, including giants such as Siemens, Infineon, and Volkswagen. He added that German firms can work together with Malaysia to develop renewal energy.

The prime minister also took the opportunity to promote Malaysia as a tourism hub, saying that the country is rich with forests and beaches that can be visited throughout the year.

While encouraging SMEs to embrace green initiatives, including ESG practices, he said the Malaysian government is also doubling down on the digital economy, with a strong focus on promoting digital technologies to SMEs to drive export growth.

Six Malaysian companies are participating in the exhibition here through the Ministry of Entrepreneur and Cooperatives Development (MECD).

Source: Bernama

PM Anwar invites German, European firms to invest in Malaysia

Negri Sembilan should be able to match the RM10.1bil in investments it secured last year in 2024, says Datuk Seri Aminuddin Harun.

The state Mentri Besar said his administration had already received queries on potential investments, but he was not yet at liberty to divulge them.

“We have also received many queries from potential investors through Invest NS and are confident we can secure at least RM10bil,” the Port Dickson MP told reporters after chairing the state exco meeting at Wisma Negri on Wednesday (March 13).

He said potential investors could get all the necessary information from Invest NS.

“We will also provide them with technical support and speedy approvals and ensure that all processes are completed quickly and efficiently,” he said.

Invest NS is a state government investment arm entrusted with promoting investment opportunities in Negri.

Last week, Aminuddin said the state government had achieved its 2023 investment target by securing 189 approved projects with a total investment of RM10.1bil, a record achievement.

He said the RM8.9bil secured in 2022 was 13% more than the investments approved by the Malaysian Investment Development Authority for 2023.

Of the total, domestic investments made up RM4.1bil while foreign investments amounted to RM6.0bil.

The manufacturing sector is the largest contributor with RM7.6bil, followed by the services sector at RM2.5bil.

Source: The Star

Negri will attract at least RM10bil investments in 2024, says MB

Malaysia has received impressive support and recognition from Germany’s leaders and captains of industry with potential investments worth RM45.4 billion.

“We have registered a very impressive support and commitment for Malaysia, not only among political leaders but also from the businesses,” Prime Minister Datuk Seri Anwar Ibrahim said.

On Monday, Anwar held a meeting with his German counterpart, Chancellor Olaf Scholz.

The two leaders discussed the progress of Malaysia-Germany relations, particularly economic cooperation, education, environment, export of palm oil and sustainability.

They also exchanged views on the humanitarian crisis in Palestine and other global issues of mutual interest. “And the exchanges have been very frank, very fruitful and wide-ranging,” he said at a dinner event with the Malaysian diaspora here on Tuesday. 

He highlighted that the Malaysian delegation received impressive support from Germany’s captains of industry. “I was told by Tengku [Datuk Seri] Zafrul [Aziz]) that it is rare to have an impressive array of CEOs, industry captains in large [numbers] coming to meet us, some were in a group and some [came as] individuals; these exchanges have been extremely useful to us,” said the prime minister.

Potential investment of RM45.4 billion, political stability vital

Malaysia, Anwar said, has drawn potential investments of RM45.4 billion during his visit here. The potential investments are from various industries such as semiconductors, aerospace, medical devices, chemicals, and services.

All these are possible due to the political stability that Malaysia has, Anwar noted, adding that political stability is important to investors.

“People must have confidence that we are staying for years. Political stability is very important for the government to bring the right policy to enable Malaysia to bring in more investments,” said the prime minister.

Earlier on Tuesday, more than 35 captains of industry and businesses joined a roundtable meeting with Anwar, who is also the finance minister.

Among those who attended the meeting were the group chief executive officer (CEO) of Siemens AG Roland Busch, CEO of B. Braun GmbH Anna Braun, and the CEO of Melexis, Marc Biron.

Also present were the president of Airbus Asia Pacific, Anand Stanley, the managing director of Volkswagen Group Malaysia, Susanne Lehmann, and Infineon Technologies AG COO Rutger Wijburg.

Representatives from the German Chamber of Commerce, the Malaysia-German Chamber of Commerce, and the German Association for Small and Medium-sized Enterprises (BVMW) were also present.

Also present during the meeting were Foreign Minister Datuk Seri Mohamad Hasan and Investment, Trade and Industry Minister Tengku Zafrul Tengku Abdul Aziz, Malaysian Investment Development Authority (Mida) CEO Datuk Wira Arham Abdul Rahman and Malaysia External Trade Development Corporation (Matrade) CEO Datuk Mohd Mustafa Abdul Aziz.

There are over 700 German companies based in Malaysia, with the creation of 65,000 jobs.

Germany has been Malaysia’s largest trading partner among European Union member countries since 2000, while Malaysia is the largest trading partner for Germany among Asean member states. 

In 2023, Malaysia’s total trade with Germany increased by 5.9% to RM63.45 billion (US$13.9 billion) compared to RM59.87 billion (US$13.62 billion) in 2022.

Source: Bernama

Malaysia receives impressive support, recognition in Germany — Anwar

Prime Minister Datuk Seri Anwar Ibrahim said renewed investor confidence in Malaysia can be attributed to its political stability.

He said the exchanges he had with captains of industry in Germany, which has so far generated potential investment interest beyond RM44 billion, have been fruitful.

“We have had impressive support, from the politics leaders such as the German Chancellor (Olaf Scholz), and the exchanges have been frank, fruitful and wide ranging.

“Support from the captains of industry have been really good. We’ve recorded potential investment interest exceeding RM44 billion and these exchanges have been useful for us,” he said during a get together with the Malaysian diaspora in Germany here today.

Political stability, he said, was important.

“People must be confident that we are staying for years to come. It’s also important that we have clarity in our policies,” he said.

Anwar said Malaysia has “lost some time” due to the political instability but has since regained its footing to improve the economy.

“We’ve lost some time but have regained our footing. Only this way can we raise country’s dignity and improve the livelihood of all Malaysians,” Anwar told a crowd of more than 300 people.

He was accompanied by International Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, Foreign Minister Datuk Seri Mohamad Hasan, Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick.

Also present was Malaysian ambassador to Germany, Datin Paduka Dr Adina Kamarudin.

Anwar had earlier in the day held a roundtable meeting with German captains of industry. He also held private meetings with senior management of selected companies as part of his six-day visit to Germany.

Source: NST

PM: Political stability key to spurring investor confidence

IN response to global demand for green energy and desire to attain higher levels of economic growth, the Sarawak Economic Development Corporation (SEDC) is shifting its development focus from services and infrastructure to sophisticated, high-value manufacturing sectors powered by renewable energy.

This transition is among the steps being taken to ensure that low-carbon and resource-efficient manufacturing contributes to 30% of Sarawak’s gross domestic product (GDP) by 2030, SEDC chairman Tan Sri Datuk Amar Abdul Aziz Husain tells The Edge in a recent interview.

“The goal is to propel the manufacturing sector up the value chain to be able to create high-value products and generate opportunities for higher incomes.

“The state wants to be [like a] developed nation by 2030, to double our GDP by then. To me, it is not possible to achieve [that status] unless we invest heavily in the manufacturing sector and the services that support manufacturing.

“All the other sectors are supporting sectors; we still have to do tourism and agriculture but manufacturing is the one that can help the state leapfrog. Of course, we have mining and, as we discover more oil and gas, that will also contribute; that will be done by Petros (Petroleum Sarawak Bhd).”

SEDC is a statutory body set up in 1972, tasked with stimulating Sarawak’s economic development by pioneering and strategic industries. Petros is the state-owned oil and gas exploration firm.

Efforts are already underway to execute action plans set out in SEDC’s blueprint for the manufacturing sector, in particular the downstream methanol and ammonia production facilities.

SEDC’s methanol plant is slated to be operational by June this year. In February, it signed a preliminary agreement with Petronas Chemicals Group Bhd to jointly study the feasibility of setting up a world-scale blue ammonia plant.

According to Aziz, the shift in strategy means Sarawak is not just exporting raw materials, but is manufacturing value-added products for export, thus moving up the value chain to secure a robust, sustainable economic future.

“SEDC is looking at the manufacturing sector’s contribution to GDP by developing our industries in Bintulu. The idea was to produce methanol and ammonia and get Sarawak to develop the downstream [sectors] of these industries. For example, siloxane plants and the downstream silicone products … This will provide higher value to our product and provide high-level, higher-paying opportunities for the people. Of course, we need to get the people ready for the jobs,” he says.

The allure of cheap hydropower boosts prospects for hydrogen power

SEDC, and the state at large, have made significant strides in high-value sectors, Aziz says, due to the emphasis on renewable energy more than a decade ago, which saw the establishment of the Baleh and Murum dams as well as the taking over of the Bakun dam from the federal government.

The decision to harness Sarawak’s cheap hydropower led to a boost in energy-intensive industries and provided a springboard for future green energy projects. Notably, SEDC’s subsidiary, SEDC Energy Sdn Bhd, has been tasked with kick-starting the state’s hydrogen ecosystem. The corporation is involved in projects set to produce 240,000 tonnes per annum of green hydrogen, making it one of the largest producers of clean energy globally.

“We can produce much cheaper green hydrogen than anyone in the region. With sun or wind, you need to invest double the amount in order to produce the same amount of hydrogen we can,” says Aziz.

Notably, SEDC Energy oversees two hydrogen-related projects — the first being H2ornbill, with oil firm Eneos and trading house Sumitomo Corp; and the second, H2biscus, with three South Korean companies: Samsung Engineering, Posco and Lotte Chemical.

Bringing Sarawakian talents home

This shift in SEDC’s strategy has been a boon for employment opportunities, enticing skilled Sarawakians who have settled overseas to return home. SEDC, Aziz says, is keen to offer more job opportunities that align with their professional capacities.

“When we advertised the posts for our methanol plant, for example, we got over 1,000 applications, but we only needed 200 people.

“So, when we have other plants, we can train more people. And, as you can see, we don’t have a shortage [of talent. It is] just that we do not have a place for them at the moment. We have so many talented Sarawakians overseas waiting to come back.”

Other investments and social responsibilities

The hospitality and services sector still accounted for the largest portion of SEDC’s investment portfolio in 2023, at 63%, followed by the consultancy and engineering works sector. This is a stark contrast to the energy sector, which accounts for only 2%.

With a progressive shift towards high-value manufacturing and green energy, Aziz says the focus of its portfolio would only change over time.

That said, infrastructure continues to play an important role in SEDC’s development strategy.

“[Investments in] infrastructure will still be there, as we need to develop the state. Our investment in Innocement Sdn Bhd, for example, is important to stabilise cement prices.

“We have small shares in CMS (Cahya Mata Sarawak) and KKB (Engineering Bhd) and other [companies, and] will remain [invested as] those are investments for us to get returns,” Aziz says.

Overall, the asset value of SEDC and its 35 subsidiaries stood at RM2.96 billion at end-2023 (from RM830.34 million in 2020), with reserves standing at RM791 million.

Aziz says SEDC also has its eye on other sectors such as electrical vehicles (EVs) and pharmaceuticals, having established a medical glove manufacturing plant at its Sarawak Medical Innovation Technology Hub.

“To develop EVs, we need batteries. The basic materials are sodium and graphite. So, SEDC has recently tied up with Gallois (New Energy Materials (M) Sdn Bhd) to produce graphite in Sarawak.

“By having a joint venture with Petronas’ (Petroliam Nasional Bhd’s clean energy outfit) Gentari, we can later use this technology to produce fuel cells. With the fuel cells and batteries, we can develop our own EV industry,” says Aziz.

Apart from commercial profitability, SEDC is also tasked with taking on socially beneficial projects.

One example is Sarawak Metro Sdn Bhd, a wholly-owned subsidiary of SEDC set up to develop the Kuching Urban Transportation System, a project not expected to be profitable in itself but considered vital for the development of the state’s economy.

While the government fully funds the capital expenditure of such projects, SEDC handles the operational costs, reiterating its commitment to corporate social responsibility. The corporation is also focusing on food sufficiency as plans are in place to increase protein production essential for childhood development, thereby enhancing public nutrition, Aziz explains.

As SEDC strides towards achieving its ambitious targets, it acknowledges potential challenges. While Sarawak’s gross national income per capita exceeded the World Bank’s US$13,205 (RM62,500) high-income threshold in 2023, Aziz says the state is more concerned about wealth distribution.

“We can get there in terms of GDP [per capita]. The bigger challenge will be the distribution of wealth, raising everyone’s income to RM15,000 per month by 2030. We want higher-paying jobs; we need higher-value products. We are in a hurry to get there.”

Source: The Edge Malaysia

SEDC to use high-value industries to power Sarawak’s new economy

New investment interests arising from the roundtable and one-on-one meetings with Prime Minister Datuk Seri Anwar Ibrahim here today are worth a potential RM45.4 billion.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the potential investments encompassed new as well as expansion and diversification projects.

“The potential investments are from various industries such as semiconductor, aerospace, medical devices, chemicals and services,” he told Malaysian journalists after the roundtable and one-on-one meetings with Anwar.

A total of 38 captains of industry and businesses from German cities like Stuttgart, Munich, Berlin, and Frankfurt, as well as from Belgium and France, joined the meetings.

Anwar also had one-on-one meetings with officials from X-Fab, Melexis, Infineon Technologies AG, Schott AG, and Airbus.

The Prime Minister, who arrived here on Sunday, took the opportunity to assure German businesses that Malaysia remains one of the best and preferred locations for investors with business-friendly approaches.

The companies from the world’s biggest economies that came to see the premier are involved in sectors like energy, medical devices, semiconductors, electronics, machinery, automotive, and aerospace.

Tengku Zafrul said through the engagements with the companies, there are strong indications that German companies are positive and remain committed to Malaysia as their investment destination.

X-Fab, Melexis, and Schott to commence operations soon

According to the minister, X-Fab, Melexis, and Schott gave updates that their projects, with approved investments amounting to RM4.45 billion, are currently under construction and are expected to commence operations within this year.

During the one-on-one meeting with the prime minister, the chief operating officer of Infineon, Rutger Wijburg, said the company was on track to build the world’s largest 200-millimetre SiC (silicon carbide) power fab in Kulim. “Infineon and Malaysia building the world’s biggest SiC factory. Together, Malaysia and Infineon are fighting climate change,” he said.

Infineon, which has been operating in Malaysia since 1973, announced last year that over the next five years, the company will additionally invest up to five billion euros in Kulim during a second construction phase for its Module Three plan. The investment will lead to an annual SiC revenue potential of about seven billion euros by the end of the decade, together with the planned 200-millimetre SiC conversion in Villach and Kulim.

Among those who attended today’s meetings with Anwar were Siemens AG group chief executive officer (CEO) Roland Busch, B. Braun GmbH CEO Anna Braun, and Melexis CEO Marc Biron. Also present were Airbus Asia Pacific president Anand Stanley and Volkswagen Group Malaysia managing director Susanne Lehmann.

Representatives from the German Chamber of Commerce, the Malaysia-German Chamber of Commerce, and the German Association for Small and Medium-sized Enterprises (BVMW) were also there.

Also present during the meeting were Foreign Minister Datuk Seri Mohamad Hasan, Malaysian Investment Development Authority (MIDA) CEO Datuk Wira Arham Abdul Rahman, and Malaysia External Trade Development Corporation (MATRADE) CEO Datuk Mohd Mustafa Abdul Aziz.

There are over 700 German companies based in Malaysia, with 65,000 jobs created.

Germany has been Malaysia’s largest trading partner among European Union member countries since 2000, while Malaysia is the largest trading partner for Germany among Asean member states.

In 2023, Malaysia’s total trade with Germany increased by 5.9 per cent to RM63.45 billion (US$13.90 billion) from RM59.87 billion (US$13.62 billion) in 2022. 

Source: Bernama

New potential investments worth RM45.4b from Germany, says Tengku Zafrul

The Ministry of Investment, Trade and Industry (MITI) is aiming for Malaysia to have 100 local technology companies with annual revenue of RM1 billion by 2030, according to Deputy Minister Liew Chin Tong.

He said the government will continue to support local companies in research and development (R&D) and innovation by providing assistance to small and medium enterprises (SMEs) nationwide.

“Various types of assistance are being provided by MITI and its agencies including financing assistance, advisory services and business guidance to strengthen the SME value chain,” he said in winding up the debate on the Motion of Thanks for the Royal Address in the Dewan Rakyat today.

He was responding to Datuk Seri Amirudin Shari’s (PH-Gombak) proposals to enhance collaborations among states and expand the market especially for SMEs by building a national innovation system.

Liew said that MITI, through the Malaysian Investment Development Authority, is spearheading efforts to boost collaborations among Selangor, Kuala Lumpur, Melaka and Negeri Sembilan.

The effort is aimed at developing joint industrial clusters, including for the aerospace industry and global services hub.

Meanwhile, answering a query from Wan Ahmad Fayhsal Wan Ahmad Kamal (PN-Machang) who asked about MITI’s direction in increasing strategic investments, Liew said the government will ensure that investments coming into the country comply with 12 revenue-based indicators that will be used to gauge investment quality under the New Industrial Master Plan 2030 and National Investment Aspirations.

Among the 12 indicators are strengthening efforts in high value-added activities, accelerating regional R&D activities, and creating high-skilled job opportunities.

Source: Bernama

MITI aims to have 100 local tech companies with RM1bil revenue by 2030