Miti: European investors committed to RM14.1b in investments

 European investors, including from Germany, France, and the United Kingdom, made a commitment to invest RM14.1 billion in Malaysia.

The commitment was conveyed during a recent trade and investment mission to Europe from Oct 13 to 21 led by Senior Minister of International Trade and Industry Mohamed Azmin Ali.

The Ministry of International Trade and Industry (Miti) said in a statement that the potential foreign direct investments (FDI) include RM10.7 billion from Germany, RM2.6 billion from France, and RM800 million from the UK.

“Concurrently, an export value of Malaysian products worth RM400 million (RM50 million to Germany, RM300 million to France, and RM50 million to the UK) is expected to materialise in the coming years,” Miti said.

The ministry said Malaysia’s economic transformation efforts, particularly in driving the environment, social, and governance (ESG) agenda, were well received by the European business community.

It added that throughout the investment mission, Azmin shared Malaysia’s vision for sustainability, notably Malaysia's target of achieving carbon net-zero greenhouse gas emissions by 2050, as outlined in the 12th Malaysia Plan.

“On account of the various opportunities in Malaysia’s green technology and green mobility sectors as well as in other high-value industries, the European businesses and investors look forward to intensifying participation in those important areas,” it said.

During an engagement with the UK delegation, the ministry also identified collaboration opportunities in the areas of Industry 4.0, renewable energy, and sustainability.

The ministry also leveraged Malaysia’s position in the Regional Comprehensive Economic Partnership (RCEP) and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to further the country's interests.

- Bernama