Malaysia chalks up RM45.4b worth of potential investment interest from German companies
Prime Minister Datuk Seri Anwar Ibrahim (centre) attended the Round Table Meeting with Captains of Industry here today. Also present were Foreign Minister Datuk Seri Mohamad Hasan and Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz. BERNAMA PIC
BERLIN, 1 March 2024: Malaysia has recorded new investment interest potentially worth RM45.4 billion arising from roundtable and one-on-one meetings by Prime Minister Datuk Ser Anwar Ibrahim with German businesses here.

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

The potential investment is from various industries such as semiconductor, aerospace, medical devices, chemicals and services.

Tengku Zafrul said he also had one-on-one meetings with five companies namely X-Fab Silicon Foundries, Melexis, Infineon Technology, Schott AG and Airbus, who updated him on the status of their investment projects in Malaysia.

"X-Fab, Melexis and Schott AG said their projects are currently under construction and expect their facilities to commence operations within this year.

"The approved investments for these projects amounts to RM4.45 bilion," he told reporters on the sidelines of the roundtable meeting with German captains of industry here today.

He said 38 captains of industry attended the meeting and came from all over Germany including Stuttgart, Munich and Frankfurt.

"There were also two Belgian and one French company," he said.

Tengku Zafrul said there is strong indication that the German companies are positive and remain committed to Malaysia as an investment destination.

"MITI and MIDA (Malaysian Investment Development Authority) will continue to assist and facilitate the interest of German investors as well as other European countries," he said.

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

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 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: New Straits Times 

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