Malaysia attracts nearly 10 billion USD in potential investments from Germany

March 19, 2024 | 15:34

(0) user say

Malaysian Prime Minister Anwar Ibrahim has revealed that the country has lured potential investments worth 45.4 billion RM (9.94 billion USD) from Germany during his official visit to Germany from March 10-15.

Malaysia attracts nearly 10 billion USD in potential investments from Germany

At the roundtable between Malaysian Prime Minister Anwar Ibrahim and captains of industry in Germany (Photo: Bernama)

Kuala Lumpur – Malaysian Prime Minister Anwar Ibrahim has revealed that the country has lured potential investments worth 45.4 billion RM (9.94 billion USD) from Germany during his official visit to Germany from March 10-15.

The potential investments are from various industries such as semiconductors, aerospace, medical devices, chemicals, and services.

Within the framework of his trip, PM Anwar, who is also Minister of Finance, held a roundtable meeting with more than 38 industry and business leaders from German cities such as Stuttgart, Munich, Berlin and Frankfurt, as well as from Belgium and France.

He also had bilateral meetings with leading officials of X-Fab, Melexis, Infineon Technologies AG, Schott AG and Airbus.

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

In 2023, Malaysia’s total trade with Germany increased by 5.9 per cent to 63.45 billion RM (13.9 billion USD) compared to 59.87 billion RM in 2022.

Malaysian ringgit undervalued, hoped to trade higher

An official of Malaysia’s central bank expected the country's ringgit to trade higher on the back on positive economic prospects.

Malaysia builds national action plan to achieve energy transition targets

Malaysia is drafting a national energy efficiency action plan for 2026 - 2035 (NEEAP 2.0) to continue efforts to achieve energy transition targets, its Deputy Prime Minister Fadillah Yusof has said.

By VNA

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional