RM11 billion in possible investments in a wide range of areas, such as green energy and the digital economy: Anwar Ibrahim

Anwar Ibrahim, Prime Minister of Malaysia, was in the UK recently and was able to secure RM11 billion in possible investments in a wide range of areas, such as green energy and the digital economy.

In a press conference with Malaysian reporters on Saturday (Jan. 18), Anwar also said that the country could make RM500 million from exports over the next five years, which could include food and drinks, furniture, and parts and equipment for airplanes.

According to him, this shows that people around the world have a lot of faith in Malaysia’s economy and that relations between Malaysia and the UK government are getting better.

“There was a clear rise in interest and readiness to invest during meetings with business leaders arranged by the Malaysian Investment Development Authority (Mida), the Malaysia External Trade Development Corporation (Matrade), and the Investment, Trade, and Industry Ministry (Miti),” he explained.

In addition to working, the Prime Minister talked with a number of large UK companies during his five-day trip, such as Standard Chartered and Jaguar Land Rover.

Keir Starmer, the Prime Minister of the UK, is planning to improve cooperation and relations with Malaysia, according to Anwar. He said that UK Development Minister Anneliese Dodds will visit Malaysia next month, and then Indo-Pacific Minister Catherine West will go there in March.

“This shows the commitment to invest RM11 billion in many areas, such as banking, real estate, petrochemicals, the automotive industry, and digital and renewable energy,” he said.

On Wednesday, Anwar met with Starmer at No. 10 Downing Street during his first trip to the UK as Prime Minister. Later, Starmer wrote on X that the UK and Malaysia have a “close and historic” relationship and that “from investment to trade and education, the UK’s ties with Malaysia are stronger than ever.”

With the UK joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Anwar said that trade between the two countries should grow.

Malaysian businesses will find it easier to conduct business, offer professional services, and ship goods outside of Malaysia thanks to a special agreement known as the CPTPP.

He said, “Significant companies with big investments and projects in the UK, like YTL, Tenaga Nasional Bhd, Gamuda, and EcoWorld, will also benefit from it.”

Furthermore, the CPTPP will allow Malaysia’s palm oil and rubber products to reach the UK market without having to pay tariffs of 12% and 6.5%, respectively.— Bernama