LONDON — Malaysia has attracted RM11 billion in potential investments across various sectors, including renewable energy and the digital economy, through
Prime Minister Datuk Seri Anwar Ibrahim’s visit to the United Kingdom (UK).
Anwar told the Malaysian media here today that the export potential to be generated over the next five years amounts to RM500 million, encompassing products such as aircraft equipment and components, furniture, as well as food and beverages.
This development reflects strong international confidence in Malaysia’s economy and signifies the growing cooperation between Malaysia and the UK government, he added
“There has been a noticeable surge in interest and readiness to invest during discussions with business leaders facilitated by the Malaysian Investment Development Authority (Mida), the Malaysia External Trade Development Corporation (Matrade), and the Ministry of Investment, Trade and Industry (Miti),” Anwar said at a press conference.
During his five-day working trip to the UK, the prime minister also met with several major UK corporations, including Standard Chartered and Jaguar Land Rover.
Anwar said that the UK government, led by its Prime Minister, Keir Starmer, is set to strengthen its cooperation and relations with Malaysia, with plans for a visit from UK Development Minister Anneliese Dodds to Malaysia next month, followed by Indo-Pacific Minister Catherine West in March.
“This indicates the commitment to invest RM11 billion across various sectors, including automotive, digital, renewable energy, banking, real estate, and petrochemicals,” he said.
Anwar is on his first visit to the UK as Prime Minister, where he met with Starmer at No. 10 Downing Street on Wednesday.
After the meeting, Starmer posted on X, describing the relationship between the UK and Malaysia as “close and historic,” emphasising that “from investment to trade and education, the UK’s ties with Malaysia are stronger than ever.”
Anwar noted that trade between the two nations is expected to grow, particularly with the UK’s inclusion in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
“Through the CPTPP, Malaysian companies’ participation in contracts, professional services, and the export of goods from Malaysia will be easier.
“Major companies such as YTL, Tenaga Nasional Bhd, Gamuda, and EcoWorld, which have significant investments and projects in the UK, will also benefit from it,” he explained.
Additionally, under the CPTPP, Malaysia’s palm oil and rubber exports, which were previously subject to tariffs of 12% and 6.5% respectively, will now benefit from tariff-free access to the UK market. – January 18, 2025