Miti gets RM2.84bil potential investment from Italy

Tengku Zafrul said the partnerships forged would contribute significantly to Malaysia becoming a regional hub for advanced technologies and innovation.

KUALA LUMPUR: The Investment, Trade and Industry Ministry (Miti) has secured a total of RM2.84bil in potential investment and RM500mil of potential exports of Malaysian products and services during a trade and investment mission to Milan and Turin, Italy, from Jan 12 to 16.

In a statement, the ministry said Minister Tengku Datuk Seri Zafrul Abdul Aziz, who led the mission, met with Italian companies in the automotive, aerospace, semiconductors, food, biofuel, as well as machinery and equipment sectors.

Notable companies included STMicroelectronics, EDA Industries as well as Leonardo’s Helicopter and Aircraft Divisions, it said.

“During the closed-door one-to-one meetings, these companies highlighted their investment plans in Malaysia and showcased their commitment to explore new areas of growth for knowledge transfer and the creation of high-value jobs in the country.“The mission also featured visits to both Leonardo Helicopter and Aircraft Divisions’ facilities in Milan and Turin, respectively.

“The global player in the aerospace industry expressed its keen interest to explore new ventures in Malaysia to support its future regional operations,” said the ministry.

According to Miti, in terms of export potential, Tengku Zafrul also met with Fererro International SA, a leading food company in the production of chocolate and cocoa-based foods; and ENI Trade and Biofuels SpA, a subsidiary of ENI SpA which is one of the largest petroleum and gas companies in Italy.

Meanwhile, Tengku Zafrul said the partnerships forged would also contribute significantly to Malaysia’s journey towards becoming a regional hub for advanced technologies and innovation.

“The outcomes of the mission reflect our commitment to enhancing Malaysia’s position in the global supply chain,” he added. — Bernama

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