Anwar invites business community from Saudi Arabia to invest in Malaysia

March 24, 2023

Anwar invites business community from Saudi Arabia to invest in Malaysia

JEDDAH: Prime Minister Datuk Seri Anwar Ibrahim has called on the business community in Saudi Arabia to invest more in Malaysia now that Malaysia is under a stable government with clear policies.

Talking to hundreds of Saudi and Malaysian businessmen here, he said the new government under his leadership is committed to making it easier to do business in the country with reforms that support business and the Madani agenda.

“I would appeal therefore to some of the business community, soon after Ramadan to send delegations and meet your counterparts.

“We will of course encourage you to invest in these things, as I mentioned what our priorities are…for digital technology, food security, and of course, infrastructure in the country and we look forward to your active participation in Malaysia,” he told them.

Anwar said this in his keynote address at a gathering with the Saudi and Malaysian business communities at the Islamic Development Bank (ISDB) headquarters here today.

The prime minister, who is accompanied by his wife Datuk Seri Wan Azizah Wan Ismail, Foreign Minister Datuk Seri Dr Zambry Abdul Kadir and Communications and Digital Minister Fahmi Fadzil, arrived at the King Abdulaziz International Airport at 6.40 am local time yesterday to start his three-day official visit to the kingdom.

Anwar said there is a good reciprocal relationship between both countries in terms of investment.

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“We have had some form of investments in infrastructure (from Saudi Arabia in Malaysia)…and it is also amazing (that Malaysia) with a small economy compared to Saudi Arabia, has investments in Saudi.

“I would strongly urge you all to give all the necessary support because this will make a lot of difference for the Muslim world and hence promote more vibrant economies,” he added.

The premier also shared with the audience Malaysia’s potential and its attractiveness as an investment destination which recently drew Amazon Web Services (AWS) to decide to invest RM25.5 billion in the country.

Anwar, who is also ISDB governor for Malaysia, advised that efforts be made to ensure that the bank’s centre in Kuala Lumpur becomes truly meaningful.

“Use this centre in all fields, including in halal research, even vaccines, focus on new challenges, science, technology, innovation, food security, digitalisation, and artificial intelligence.

“The ISDB Centre of Excellence KL must be prepared to explore these new fields and disciplines that can benefit the ummah,” he said. — Bernama