Malaysia, Australia to explore new areas in energy sector

Anwar said both sides were keen to build on existing partnerships while exploring opportunities for joint ventures in renewable energy and academic collaboration between institutions from both countries.

"We mentioned education and energy, with the deputy prime minister discussing with his counterpart in Australia to explore new areas of cooperation.

"Of course, there was a very successful venture with Lynas.

"We faced some issues in the beginning, but we have decided to proceed, and it remains one of the major investments by Lynas in Malaysia," he said at a joint press conference with Prime Minister Anthony Albanese after a bilateral meeting between the two countries.

Meanwhile, Albanese said their deal teams had identified about A$20 billion worth of potential projects to strengthen bilateral investment and economic cooperation in the region.

He said an additional A$250 million in direct investment was announced in Kuala Lumpur, while another A$700 million in project value was facilitated over the past year.

‘The investment of a billion dollars by Monash University is incredibly significant, and I look forward to watching the progress that occurs there,’ Albanese said.

Earlier, in his opening remarks at the fifth Asean-Australia Summit, Albanese said Australia has reaffirmed its long-term commitment to ASEAN, saying it is fully invested in the region’s growth and prosperity.