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Anwar: Days of political uncertainty are over

Publish date: Fri, 24 Mar 2023, 10:58 AM

JEDDAH, Saudi Arabia: Saudi investors have been given the assurance that the days of political uncertainty in Malaysia were over, and that they can expect stability, and a more progressive and dynamic approach to business, from the current administration.

At a roundtable meeting last night, Prime Minister Datuk Seri Anwar Ibrahim told Saudi Arabia's captains of industry that the ruling government, with a two-thirds majority, was here to stay, making Malaysia a sound and attractive destination for foreign investors.

Anwar said his administration, while committed to ensuring good governance, was also laser-focused on putting the country on a more vibrant and progressive economic path.

The prime minister engaged with some 20 heads of companies from the kingdom, and discussed areas of cooperation, and new sectors they could explore.

In an immediate reaction to Anwar's assurances, chairman of the Jeddah Chamber of Commerce and Industry, Sheikh Mohammed Yousuf Naghi, said the business community was encouraged by the political stability now in place in Malaysia, and were looking forward to taking their ventures to the next level.

"Malaysia is an inspiration for reforms. We are most happy to see political stability in the country.

"We have common issues, like food security …Going forward, we will be looking at renewable energy, and we hope Saudi investors can engage in joint-ventures, and tap into Malaysia's know-how," he said.

Anwar was told at the meeting that Kuala Lumpur could expect a Saudi business delegation to make its way over in about four months.

Among the sectors in Malaysia that the Saudi businessmen said they were keen on exploring, were the manufacturing of microchips and semiconductors, medicare, and education.

Anwar also heard from Malaysian businessmen in the kingdom of their extensive involvement in Saudi Arabia's mega engineering project - the futuristic city of NEOM - and the abundance of opportunities awaiting players from Kuala Lumpur.

Also present at the meeting were Foreign Minister Datuk Seri Dr Zambry Abdul Kadir, Communications and Digital Minister Fahmi Fadzil, Malaysian Ambassador to Saudi Arabia Datuk Wan Zaidi Wan Abdullah, and Foreign Ministry secretary-general Datuk Seri Amran Mohamed Zin.

Anwar and Sheikh Mohammed Yousuf also witnessed the exchange of four signed Memoranda of Understanding between Malaysian and Saudi Arabian companies, last night.

Tan Sri Syed Zainal Abidin Syed Mohamed Tahir led Dagang NeXchange Bhd, in the exchange with Ajlan and Bros Holding Group Company.

The other MoUs were between KLICC and Wadi Makkah Knowledge Company, Mobilityone Sdn Bhd and Nad/Nesma Co. Ltd, and Qhub International Sdn Bhd and Eromman Technologies.

Anwar is in Saudi Arabia on a three-day official visit.

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