KUALA LUMPUR: Malaysia will continue efforts to diversify its export destination, especially to non-traditional markets such as the Middle East and Latin America.
Anwar said this was among the government’s efforts to mitigate the decline in export value following the uncertain global environment. "Two projects in E&E and machinery & equipment sectors with potential investments worth RM2.74 billion are expected to be completed by end-2024. "Masdar has made a due diligence visit to identify several partners among local companies to carry out RE projects in stages over 10 years.
He said Masdar’s chief executive officer and delegation will be in Malaysia this week to meet their potential partners that have been arranged by the Ministry of Investment, Trade and Industry and MIDA. Anwar said he had also met renowned companies in Saudi Arabia such as Public Investment Fund and Saudi Arabian Oil. Co during his working visit to the kingdom; Aramco had shown interest to increase investments in Malaysia in the manufacturing sector and retail in the petrochemical industry.