Prime Minister Datuk Seri Anwar Ibrahim today 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.

The prime minister held court with representatives from almost 40 companies, whose focuses ranged from manufacturing, automotive, aerospace to pharmaceuticals.

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.

Among those who had private meetings with Anwar included Marc Biron, chief executive officer(CEO) of micro-electric semiconductor company Melexis, and Rudi de Winter, CEO of X-FAB Silicon Foundries, the foundry group for analog/mixed-signal semiconductor applications.

The prime minister, following his meeting with German Chancellor Olaf Schulz at the Federal Chancellery yesterday, had invited more German businesses to capitalise on Malaysia’s strategic location in Southeast Asia and solid infrastructure to make the country a preferred investment destination.

Germany, he said, has invested close to US$15 billion (RM70.24b) in Malaysia, citing German companies such as Infineon Technologies AG which have made Malaysia their hub for centres of excellence and training.

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.

Anwar, who is on his maiden visit to Germany and Europe after becoming prime minister, has lined up a series of programmes during his six days in Berlin and Hamburg.

They included meetings with German government leaders, representatives of major businesses as well as captains of industry.

Source: NST

PM holds court with almost 40 German captains of industry

The Investment, Trade and Industry Ministry (Miti) will leverage on insights from the American Malaysian Chamber of Commerce’s (Amcham) Economic Impact Survey (EIS) 2022-2023 to fine-tune trade and investment policies to further enhance Malaysia’s position as a preferred investment destination.

MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz said the business association’s findings reflect confidence in the Madani Government’s policies and in its earnest efforts to facilitate the investors’ journey since December 2022.

“MITI welcomes the findings from Amcham’s EIS 2022-23, notably how United States (US) manufacturing companies’ RM92.2 billion investments to date have contributed RM199.4 billion to our exports and RM23.3 billion of spillover impact to Malaysian companies and small and medium enterprises (SMEs), notably in the electrical and electronics (E&E) sector.

“These created 126,185 jobs for Malaysians, including for 232 PhD holders and 4,219 master’s degree holders,” he said in a LinkedIn post today.

Yesterday, Amcham presented the findings from the survey, which saw the participation of 81 Amcham members. Of the respondents, 65 were American multinational companies and half were manufacturing companies, with E&E manufacturers being among the largest groups of respondents.

Tengku Zafrul said Miti appreciates Amcham members’ commitment to enhancing Malaysia’s workforce, with 65 per cent of manufacturers’ offering fully funded training initiatives.

This, he said, reflects the New Industrial Master Plan 2030’s (NIMP 2030) focus on catalysing public-private collaborations for technical and vocational education and training (TVET) and science, technology, engineering, and mathematics (STEM) programmes.

“The fact that a majority of respondents will be incorporating artificial intellegence into their business activities in the next three years signals a potential uptick for the Malaysian E&E industry.

“We are also heartened by the finding that 60 per cent of American manufacturing companies are planning additional investments in the next five years,” he said.

Tengku Zafrul said that together with the RM1.92 billion research and development allocation by American manufacturing companies in 2022-23, all these collectively support the achievement of Malaysia’s key objectives to move up the global value chain while securing higher pay for local skilled workers, as outlined by the NIMP 2030.

Source: Bernama

Ministry to leverage on insights from Amcham survey to fine-tune policies — Tengku Zafrul

Prime Minister Datuk Seri Anwar Ibrahim welcomed more German businesses to take advantage of Malaysia’s strategic location in Southeast Asia and its developed infrastructure as a preferred investment destination.

“Within the European Union, Germany, of course, is our largest trading partner and you have invested a substantial amount close to US$15 billion (RM70.24 billion),” he said.

He cited Infineon Technologies AG and many other leading German companies that has chosen Malaysia as their important hub, centre of excellence and training centres.

Malaysia looks forward to greater collaboration, not only in enhancing trade and investment, but also to strengthen bilateral relations in all fields, he said at a joint press conference with his German counterpart Chancellor Olaf Scholz at the Federal Chancellory, Berlin.

Anwar, who is also the Finance Minister, said Malaysia is keen to focus on the training of students.

“We have about 1,000 students throughout Germany for training in German companies for their initial exposure.”

The Prime Minister also said that Putrajaya welcomes Berlin’s interest in terms of new investments in renewable energy and green technology.

“Renewable energy has been our focus now and we are fortunate because we are strong in solar, green energy and strong in terms of our capacity to export in renewable energy,” he said.

Anwar said Malaysia was exporting renewable energy to Indonesia’s new capital Nusantara as well as through undersea cable to Singapore.

“So, there is a huge potential that you can see in the mushrooming of data centres and AI into the region, especially in Malaysia,” he said.

On other developments, Anwar reaffirmed Malaysia’s optimism in achieving economic growth of between 4 per cent and 5 per cent in 2024, grounded in the solid foundation that is the MADANI economy framework and the reforms outlined through Malaysia’s Budget 2024.

He also highlighted that the MADANI economy framework will leverage Malaysia’s innate strengths in enhancing national competitiveness, with emphasis on fiscal sustainability measures, good governance practices and efficacious service delivery.

There are over 700 German companies based in Malaysia, creating 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 per cent to RM63.45 billion (US$13.90 billion) compared to RM59.87 billion (US$13.62 billion) in 2022.

Source: Bernama

PM Anwar woos more German businesses to invest in Malaysia

Prime Minister Datuk Seri Anwar Ibrahim today invited more German businesses to capitalise on Malaysia’s strategic location in Southeast Asia and solid infrastructure to make the country a preferred investment destination.

Speaking at a press conference after a four-eyed meeting with German Chancellor Olaf Scholz at the Federal Chancellery, Anwar said Germany has been Malaysia’s largest trading partner since the 2000s within the European Union, while Malaysia has been Germany’s largest trading partner among Asean member states.

Germany, he said, has invested close to US$15 billion (RM70.24b) in Malaysia, citing German companies such as Infineon Technologies AG which have made Malaysia their hub for centres of excellence and training.

“Chancellor Scholz and I reaffirmed our commitment to expand and deepen cooperation in the economic sphere.

“Both Malaysia and Germany have enjoyed close economic ties for many years, which remained the cornerstone of the robust bilateral relations between both countries.

“We invite more German businesses to take advantage of Malaysia’s strategic location in Southeast Asia, and its developed infrastructure as a preferred investment destination,” he said.

He said the meeting with Scholz also saw other areas of cooperation discussed including education, technical and vocational training, palm oil, energy crisis, renewable energy and climate change.

Touching on the economic outlook in Asia and globally, he said Asia largely remains a key driver of global growth despite facing lingering headwinds.

“Within the Asean region, the near-term outlook is for continued strong growth, owing to resilient domestic demand and some improvement in exports of goods and services,” he said.

However, he acknowledged that there are various challenges that are expected to beleaguer economies around the world in 2024, as countries are still finding a firm footing after the Covid -19 pandemic.

The prime minister reaffirmed Malaysia’s optimism in achieving economic growth between 4-5 per cent in 2024, grounded in the solid foundation that is the Madani economy framework, and the reforms outlined through 2024 Budget.

The Madani economy framework, he said, will leverage Malaysia’s innate strengths in enhancing national competitiveness, with emphasis on fiscal sustainability measures, good governance practices, and efficacious service delivery.

Source: NST

Anwar invites more German businesses to make Malaysia preferred investment destination

American multinational companies (MNCs) remain upbeat on Malaysia’s economic prospects with its potential for growth and development, making the country a preferred destination for investment, according to a survey conducted by the American Malaysian Chamber of Commerce (Amcham).

Amcham’s biennial Economic Impact Survey (EIS) 2022/23 saw 81 companies participating in the survey, of which  65 are American multinational companies (MNCs).

The chamber of commerce said that half of the respondents (42) are manufacturing companies, with electrical and electronics (E&E) manufacturers being among the largest group of respondents.

The survey found that foreign direct investment (FDI) of these MNCs amounted to RM172.6 billion as of end-2023, underscoring the longstanding and ongoing commitment of these companies in Malaysia, with a history dating back to the 1950s.

Amcham chairman Antony Lee said that the commitment shown by the American MNCs in Malaysia is as strong as ever and continued to foster a strong partnership with their counterparts.

“Regardless of Malaysia’s economic conditions and even in the previous global financial crises, American companies have continued to invest (in Malaysia).

“Therefore, we are a very strong partner to Malaysia,” he said after presenting the EIS 2022/23 today.

The EIS 2022/23 results also found that 81 companies participating in the survey employed 148,778 individuals, of which 89 per cent are Malaysians, and paying RM307.7 billion in salaries.

“They also contributed to the future and security of their employees, paying RM1.3 billion towards the country’s Employees Provident Fund (EPF) and The Social Security Organisation (Socso),” the survey found.

The chamber’s chief executive officer Siobhan Das, echoed Antony’s sentiment, stating that Malaysia’s competitiveness is also ahead of neighbouring countries.

“We are right now slightly ahead of the curve, I think, very competitive. We need to be very aware of what’s coming around because that competition can be fierce,” she said.

Siobhan added that the government’s initiatives and policies, such as the New Industrial Masterplan (NIMP) 2030 and many others, had also helped to woo more investors into the country.

“I think the government has recognised that there are areas that need focus, and these master plans are being put into place to help develop Malaysia as a more attractive country for the future,” she said.

Meanwhile, former International Trade and Industry deputy minister Ong Kian Ming said that the Johor Singapore Economic Zone (JS-SEZ) and the Johor Bahru–Singapore Rapid Transit System (RTS) are other factors that can attract investment into Malaysia.

“They (the projects) will bring in joint activities in terms of promotion and investment activities between Singapore and Malaysia,” he added.

Ong noted that the National Energy Transition Roadmap (NETR) is an example of another policy that can enable new investments in various sectors.

“For example, we’re talking about investments in terms of the solar farms, and to manage those energy systems to be able to be put in industrial parks, green industrial parks, that will be able to attract even more FDI to come in,” he elaborated.

Ong added that there is a high chance that many investing companies will be from the US as they have more experience in these areas.

Meanwhile, the EIS survey also found that many of the responding companies are participating in developing Malaysia’s human capital, with 76 per cent having established internal skills and training programmes in the country.

“Additionally, 65 per cent offer fully funded training initiatives, with 23 per cent supporting co-funded programmes. American companies play a pivotal role in shaping Malaysia’s human capital landscape,” it said.

Amcham said the EIS demonstrated how deeply integrated operations are with the local ecosystem.

“Manufacturers report a host of local suppliers supporting their operations in Malaysia, with 7,291 relationships in contracts over RM100,000, valued at RM22.97 billion,” it added.

Source: Bernama

Malaysia continues be preferred investment destination for American investors

Despite competition from other ASEAN countries, Malaysia continues to stand out as a prime destination for global investors, boasting a robust ecosystem forged over the past five decades, particularly within the electrical and electronics industry.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said Malaysia also stands to benefit from spillovers from investments into its neighbours.

Speaking to members of the Malaysian media covering Prime Minister Datuk Seri Anwar Ibrahim’s visit to Germany, he highlighted Malaysia’s enduring appeal, emphasising its potential for sustained growth in green and digital economies, buoyed by its abundant natural resources and a stable investment environment.

He noted that during the working trip, Anwar will visit Siemens Energy, a key player in the renewable energy.

Meanwhile, the minister also highlighted that ASEAN has benefited from the redirection of investment flows and the realignment of the supply chain, even amidst a global backdrop of slowed global gross domestic product (GDP) growth and declining global foreign direct investment (FDI) flows.

“In the wake of the slow down in the global GDP, global FDIs have gone down 12 per cent but FDIs into ASEAN have increased by 5.0 per cent,” he said.

Global FDI flows declined by 12 per cent to US$1.3 trillion (US$1 = RM4.68) in 2022, after nosediving in 2020 due to the COVID-19 pandemic and rebounding in 2021.

Spillover benefits

Despite the competition to lure trade and investments among ASEAN member countries, Tengku Zafrul said Malaysia stands to benefit in terms of spillovers.

“We are competing within ASEAN but to me, it’s not a zero-sum game.

“Even if Vietnam or our neighbour Singapore gets one investment, it will spill over to Malaysia,” he said, citing instances where investments in neighboring ASEAN countries ripple through to bolster Malaysia’s own economic ecosystem.

He pointed to the establishment of data centres supporting artificial intelligence (AI) in Singapore where the spillover can be felt in Malaysia, as well as Vietnam’s procurement of parts from Malaysia as prime examples of this beneficial interplay.

On the premier’s visit to Germany, Tengku Zafrul said it was important for Malaysia to continue engaging with the world’s third-largest economy, adding that during his six-day visit, Anwar will meet captains of industry and potential investors such as Schott AG, Infineon Technologies AG, Melexis and Airbus .

There are currently over 700 German companies operating in Malaysia, creating 65,000 jobs.

Germany has been Malaysia’s largest trading partner among the 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

Malaysia remains attractive to global investors amid strong ecosystem – Tengku Zafrul

Malaysia’s loss of previous advantages – such as cheap labour – to neighbouring countries including Thailand, Indonesia and Vietnam do not necessarily signal the death knell for its industries.

Instead, International Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said Malaysia still holds distinct advantages over some of its regional neighbours.

Speaking to the Malaysian media here today in conjunction with Prime Minister Datuk Seri Anwar Ibrahim’s visit to Germany, Tengku Zafrul said Asean as a whole has benefited massively.

To a question on whether Malaysia is facing a challenge from other Asean countries in terms of securing major investments from abroad, including Europe, Tengku Zafrul replied in the affirmative.

He acknowledged that Asean neighbours such as Vietnam, Thailand and Indonesia now offer what Malaysia previously did, such as cheap labour.

However, he believed that Malaysia is still an attractive proposition to investors.

“Yes, we have competition in the region. The good news is that Asean as a region has benefited from the redirection of flows especially investment flows given the realignment of the supply chain.

“If we look at the global FDI (foreign direct investment) in line with the slowing down of the global GDP (gross domestic product), global FDI has gone down 12 per cent whereas the FDI into Asean has gone up five per cent. As such, Asean is actually bucking the trend and of course, Malaysia stands to benefit from that being one of the Asean countries.

“But at the same time within Asean, we are competing.”

Tengku Zafrul however does not believe that it is a zero-sum game.

“Even if let’s say Vietnam or Singapore next door secures an investment, there will be a spillover to Malaysia if we have the right ecosystem to support that. For example, we’ve seen the advancement of data centres supporting AI (artificial intelligence), where because of Singapore, the spillover effect is being felt in Malaysia.

“Similarly, when we talk about the EV (electric vehicles) ecosystem, we have a very established E&E (electrical and electronics products) sector in Malaysia with over 50 years now. We have a strong global market share as well, where the E&E share in semiconductors, especially in testing and assembly, is over 12 or 13 per cent of global market share” he said.

Tengku Zafrul said Malaysia still holds three distinctive competitive advantages.

The first, he said, were strong ecosystems in place in sectors such as E&E, which has helped convince companies to come to Malaysia.

The second, he said, was talent, which companies in Malaysia, including multinationals, have built in the country over the years.

The third, he said, was Malaysia’s strength in green economy and digital economy, key sectors which are hoped to drive growth and spillover effects to Malaysians and Malaysian companies.

“This is where we have strong natural resources. We have land and the right policies as well as incentives that have remained consistent over the years,” he said.

However, Tengku Zafrul noted that Malaysia has to be mindful that “the gap is narrowing, and that Malaysia will be competing with others with similar advantages in the future.”

Tengku Zafrul is among the ministerial delegation accompanying the prime minister in the latter’s six-day official visit to Germany.

Apart from programmes in Berlin and Hamburg with potential and existing German investors, Tengku Zafrul will also travel to Munich to discuss potential business opportunities with automotive giants BMW as well as aircraft manufacturers Airbus.

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 rose by 5.9 per cent to RM63.45b (US$13.90 b) compared to RM59.87b (US$13.62 b) in 2022.

Source: NST

Tengku Zafrul: Malaysia still attractive to investors due to distinct competitive advantages

Prime Minister Datuk Seri Anwar Ibrahim kicked off his visit to Germany by visiting Siemens Energy, one of the world’s leading energy technology companies.

Upon arrival at Siemens Energy headquarters in Huttenstrasse here, Anwar was received by Siemens Energy executive board member, Vinod Philip.

Also accompanying the prime minister were Foreign Minister Datuk Seri Mohamad Hasan, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick and Malaysia’s Ambassador to Germany Datin Paduka Dr Adina Kamarudin.

Located in 90 countries with about 90,000 employees, Siemens Energy operates across the whole energy landscape — from conventional to renewable power and grid technology. It is also involved in storage and electrifying complex industrial processes. The plant here, which has around 3,400 workers, is involved in the assembling of gas turbines as well as electrolysis hydrogen production systems.

Anwar, who is also the finance minister, and his entourage were taken on a tour of the sprawling facility and a discussion with senior officials.

Last year, Tenaga Nasional Bhd (TNB) and Siemens Energy signed a memorandum of understanding to initiate green hydrogen advancements.

The partnership aims to accelerate the decarbonisation of TNB’s thermal power plants, utilising green hydrogen produced from renewable energy resources.

Source: Bernama

Anwar visits Siemens Energy in Berlin

An enduring friendship built on strong economic ties and mutual respect, with a keen eye on the future, will set the tone for Datuk Seri Anwar Ibrahim’s first official visit as prime minister to Germany today.

After concluding a successful tour of Melbourne and Canberra, where Australian companies expressed interest in investing RM24.5 billion in Malaysia, the prime minister will now train his sight on German investors, both new as well as those already with a presence in Malaysia, as part of his visit to Berlin and Hamburg.

Malaysian Ambassador to Germany, Datin Paduka Dr Adina Kamarudin, said the prime minister’s intensive six-day itinerary will see him meet senior German leadership, captains of industry, academics and policymakers as well as the Malaysian diaspora.

The prime minister is scheduled to arrive in Berlin Brandenburg Airport at 10pm on March 10, where he will be welcomed upon arrival by Foreign Minister Datuk Seri Mohamad Hasan, Adina as well as German government representatives.

Apart from Mohamad, also accompanying him for his visit are International Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick.

Adina said the prime minister will begin his series of programmes on March 11 with a visit to the Siemens Energy plant in Berlin. Siemens, she said, had invested heavily in Malaysia and is currently focusing on renewable energy.

This will be followed by a courtesy visit to Federal President Frank-Walter Steinmeier at Bellevue Palace, who in February last year had visited Malaysia.

Steinmeier, in his visit, had stated that Malaysia is set to become a key destination for German companies to diversify their businesses and investments, with more than 700 German companies in Malaysia creating 65,000 jobs.

“This can, in a way, be viewed as a furtherance of the discussion that they had previously. President Steinmeyer is known for his deep interest in Malaysia and enjoys a keen friendship with the prime minister, evidenced from his visit to the prime minister’s office in Putrajaya during his visit to Malaysia,” she said.

Later in the evening, Anwar will be accorded an official welcome with full military honours by Chancellor Olaf Scholz at the Federal Chancellery, followed by a four-eyed meeting with Scholz.

The two leaders will hold a joint press conference with Malaysian and German media before attending a dinner hosted by Scholz.

The following day, Anwar will attend a business roundtable meeting with around 30 captains of industry, followed by a business meeting with selected companies.

These captains of industry, she said, comprise significant players in the German economy, and key investors to Malaysia.

Adina said the business meeting with selected companies, meanwhile, include major names such as Infineon, Schott AG, Melexis and Airbus, which are significant for possible investments in the future.

In the evening, the prime minister will then hold a session with the Malaysian diaspora in Germany, which will include students, working professionals as well as those who have chosen to settle down in Germany.

After the breaking of fast and Maghrib prayers, the prime minister will then join the congregation at the Sehitlik Mosque in Berlin for Isyak and Tarawih prayers. Anwar will then engage with the German Muslim community for an exchange of views.

The following day, Anwar will begin his programme with an interactive session at the Körber Foundation in Berlin, an independent, non-profit think tank which focuses on international relations including issues pertaining to the Middle East.

He will then meet with German vice-chancellor Robert Habeck before attending the Mittlestand, also known as SME Future Day, an annual small-medium enterprises conference where the prime minister will also be delivering a keynote address.

Adina said Anwar’s meeting with Habeck, who is also Minister for Economic Affairs and Climate Action, will likely see the leaders discuss issues such as Malaysia’s palm oil export to Europe and climate change.

Adina said the German economy is unique in that it does not rely heavily on multinational companies (MNCs), with its main driver being the Mittlestand, or SMEs.

“However, the size of their SMEs is on a scale vastly different than that of Malaysian companies. Their request for the prime minister’s presence at this event was done way back in July,” she said, noting that the Mittlestand offers key investment opportunities for Malaysia.

Adina said German companies have a favourable view of Malaysia due to a host of factors, such as the various incentives offered, especially customised tax incentives and the supporting role played by agencies like the Malaysia Investment Development Authority or MIDA.

“They are very comfortable with our One Stop Centre. There is also the ease of doing business with agencies such AS MIDA, with the Immigration Department providing the necessary support, as well as the English-speaking population,” she said.

In Hamburg, Anwar will attend Friday prayers at the El Nour Mosque before conducting a business meeting with Nexperia. He will then attend the 101st East Asia Friendship Dinner (Ostasiatisches Liebesmahl) by the German Asia-Pacific Business Association (Ostasiatische Verein – OAV) before departing for Kuala Lumpur.

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.

Source: NST

Germany welcomes Anwar on maiden visit, fostering economic cooperation and mutual growth

Malaysian Ambassador to Germany, Datin Paduka Dr Adina Kamarudin said Anwar will be holding a bilateral meeting with his German counterpart, Chancellor Olaf Scholz besides paying a courtesy call to President Frank-Walter Steinmeier.

“Prime Minister Anwar is expected to discuss various bilateral and global issues during his meetings with the two German leaders,” she said at a press conference with Malaysian media covering the premier’s visit here.

President Steinmeier made a state visit to Malaysia from Feb 16 to 19 last year, where he also visited two of Germany’s largest investors in Malaysia — manufacturer of semiconductors Infineon and medical technology specialist B. Braun.

During the visit, Steinmeier had said that Malaysia would be an important location for German companies to diversify their businesses and investments, adding that there are over 700 German companies there now, creating 65,000 jobs.

According to Dr Adina, Anwar, who is expected to arrive here at 10pm Sunday (5am Monday), will meet top industry leaders at six meetings and engagements, most of them are the country’s top small and medium-sized enterprises (SMEs) which are the backbone of Germany’s economy.

Meet 30 captains of industry

On Monday, Anwar will kick off his visit by visiting the Siemens Energy plant in Huttenstrabe, said Dr Adina, adding that the company which had invested heavily in Malaysia is currently focusing on renewal energy.

Siemens Energy produces renewable energy from sun, wind, water and biomass, and the key player in the country’s energy transition employs about 26,000 workers.

On Tuesday, Anwar will meet about 30 captains of industry and potential investors from Europe at a business roundtable meeting.

“German companies continuously looking at Malaysia because of the various incentives offered, especially the customised tax incentives and the supporting role played by our agencies like the Malaysia Investment Development Authority or MIDA.

“They are very comfortable with our One Stop Centre… the ease of doing business with agencies like MIDA, Immigration Department providing the necessary support, as well as the English speaking population,” she said.

Dr Adina said issues like Malaysia’s palm oil export to Europe and climate change are likely to be brought up during Anwar’s meeting with Deputy Chancellor and Minister for Economic Affairs and Climate Action Robert Habeck before the premier delivers a keynote address at “Mittelstand or SME Future Day” on Wednesday.

There are 3.2 million small and medium-sized enterprises (SMEs) in Germany, employing 56 per cent of the more than 38.4 million employees in 2021.

Anwar will also meet the Malaysian diaspora before attending prayers and Tarawih at Sehitlik Mosque during his stay in the capital.

While in Berlin, the Prime Minister will have a speaking engagement at Körber Foundation, a non-profit organisation focusing on social and political issues.

Anwar will also visit Hamburg to attend the 101st East Asia Friendship Dinner (Ostasiatisches Liebesmahl) hosted by the German Asia-Pacific Business Association, where he is scheduled to deliver an address.

Dr Adina said due to the Ukraine war which has affected Germany, especially the availability of cheap gas, the country is now looking at South East Asia to diversify its business.

During the visit, the premier will be accompanied by Foreign Minister Datuk Seri Mohamad Hasan, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz and Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick.

Germany has been Malaysia’s largest trading partner among EU 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) as compared to RM59.87 billion (US$13.62 billion) in 2022.

Source: Bernama

PM Anwar’s visit to Germany will focus on enhancing bilateral and business ties – envoy

Sarawak’s political stability, coupled with a stable and progressive government, is among the critical factors which attracts billions of Ringgit in foreign investment, said state Transport Minister Datuk Seri Lee Kim Shin.

He said the state’s economic growth in recent years has been progressive, thanks to the government’s policies.

Moreover, the policy of inclusiveness practised by the Sarawak government, where it takes care of all communities and religions, is also among the factors.

“For example, in Chinese education, the state government has recognised UEC qualifications since the late Tok Nan was Chief Minister, and this has been followed by our Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

“Our premier has increased allocation for Chinese independent schools from RM3 million to RM10 million in the last few years,” he said in his speech at the Federation of Miri Division Chinese Associations’ (FCA) Chinese New Year dinner here on Friday.

He added the Sarawak government is the only government in the country which set up the Unit for Other Religions to help other religions in the state.

“Last year, the allocation was RM100 million and this year it has been increased to RM110 million, and the financial assistance is also given to mission schools by the state government,” he said.

During the event, the handing over of two RM5,000 mock cheques to Riam Road Secondary School and SMK Chung Hua Miri was carried out. Both schools have been adopted under FCA for Chinese cultural development.

Also present at the banquet were Yang di-Pertua Negeri Tun Pehin Sri Dr Wan Junaidi Tuanku Jaafar and his wife Toh Puan Fauziah Mohd Sanusi; Deputy Minister of Utility and Telecommunications Datuk Dr Abdul Rahman Junaidi; Deputy Minister of Youth, Sports and Entrepreneur Development Datuk Dr Ripin Lamat; Pujut assemblyman Mayor Adam Yii; Miri MP Chiew Choon Man; FCA president Datuk David Goh and his wife Datin Ting Lee Chong; and Penghulu Pui Kuan Peng.

Source: Borneo Post

Sarawak’s political stability, stable govt main draw for foreign investment, says state minister

Prime Minister Datuk Seri Anwar Ibrahim has instructed the cabinet to follow up on four memoranda of understanding (MoUs) signed with Australian companies.

Communications Minister Fahmi Fadzil said Australian companies were seeking to invest RM24.5 billion during Anwar’s recently-concluded visit to the country.

“The prime minister has instructed cabinet members follow-up actions to be taken on the series either on the four MoUs or intention to invest including in expediting the (relevant) processes,” he said in a post-cabinet meeting press conference today.

Fahmi, who is also the unity government’s spokesman, said the prime minister also met leaders of other Asean countries, including Thailand, in bilateral meetings to discuss tourism.

He said the Tourism, Arts and Culture Ministry would follow-up on the rising costs and prices in Langkawi.

Among the major potential investors, Anwar said, were data management centre companies AirTrunk, with an investment value of RM11 billion, and NextDC with RM3 billion.

He said the investments would also open job opportunities to some 1,200 skilled workers in Malaysia.

Source: NST

Investments: Ministries to follow-up on 4 MoUs signed with Australian companies

The East Coast Rail Link (ECRL) is anticipated to contribute a 3.8 per cent increase to Malaysia’s gross domestic product (GDP) by 2047 by enhancing trade, boosting tourism, and stimulating regional development.

Investment, Trade and Industry Minister Tengku Datuk Seri Tengku Zafrul Abdul Aziz said the ECRL project, valued at almost RM75 billion, is more than just a rail link cutting across Kelantan, Terengganu, Pahang and Selangor, but also a cornerstone for economic growth and social progress.

“The ECRL is poised to be a game changer for Malaysia, linking us more closely to the Pan-Asia railway network and enhancing our connectivity with Asean and Eurasia regions.

“Spanning 665 kilometres and connecting our east and west coasts, the ECRL represents Malaysia’s significant integration into a broader network of trade and cultural exchange,” he said in his keynote address at the Seminar on East Coast Rail Link – Economic Accelerator Project (ECRL–EAP) Business and Investment Opportunities here today.

He said by “facilitating quicker coast-to-coast movement and offering an alternate maritime gateway for cargo and passenger flow, it is poised to slash cargo vessel travel time by a significant 2.5 days between the Port Klang and Kuantan Port ports.”

“As of February 2024, the project is 62 per cent complete, with each state’s alignment progressing steadily towards the finish line,” he noted.

With a target completion date set for December 2026 and operations kicking off in January 2027, the ECRL-EAP is set to enhance Malaysia’s economic landscape and connectivity.

“On this, we see significant potential for government-linked investment companies (GLICs) and private sector players to actively participate and invest in projects along the ECRL corridor,” he said.

Prime Minister Datuk Seri Anwar Ibrahim recently announced a RM1 billion fund as part of the New

Empowerment Agenda for Bumiputera, to be managed by GLICs. This is aimed at cultivating a new generation of Bumiputera entrepreneurs in high-growth sectors.

MITI and its agencies, particularly MIDA, will continue to position Malaysia as a regional gateway for international businesses and multinational corporations (MNCs).

Source: Bernama

ECRL anticipated to contribute 3.8 pct increase to Malaysia’s GDP by 2047 – Tengku Zafrul