MITI ENCOURAGES LOCAL COMPANIES TO FORM INVESTMENT PARTNERSHIPS WITH SAUDI ARABIA

KUALA LUMPUR, May 6 (Bernama) -- The Ministry of Investment, Trade and Industry (MITI) is calling upon local companies to establish investment partnerships with companies from Saudi Arabia, especially in the services sector.

Minister Tengku Datuk Seri Zafrul Abdul Aziz said Saudi Arabia is inviting Malaysian companies to invest in the country in order to bolster bilateral trade and investments.

He highlighted that Saudi Arabia’s Saudi Vision 2030 plan welcomes investments from countries like Malaysia, especially in the services sector.

bootstrap slideshow

“We have expertise in diverse sectors, including electrical and electronics, tourism, logistics, and facility management.

“This opens up opportunities for Malaysian companies to expand their business into the country," he said after a dinner reception in honour of the Saudi Arabian delegation's visit to Malaysia today. 

In this regard, Tengku Zafrul said the Malaysia-Saudi Business Council has been established to boost business-to-business activities between the two countries.

Meanwhile, Saudi Arabia’s Minister of Commerce Dr Majid Abdullah Alkassabi encouraged Malaysian companies to come to Saudi Arabia to explore potential business opportunities in the country. 

He added that the visit was of significant importance as it was a fact-finding mission where the parties sought to build connections and jointly discover the multitude of opportunities available.

“So we are preparing a comprehensive plan… a cooperation plan based on Saudi Crown Prince Mohammed bin Salman’s direction to prepare a joint plan and to enhance the bilateral trade cooperation,” he said. 

-- BERNAMA