MIDA identifies 12 Egyptian companies interested in investing in Malaysia - Tengku Zafrul

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the companies were interested in exploring investments in the pharmaceutical, medical device, aerospace and petrochemical sectors.

He said the leading Egyptian manufacturing companies expressed their interest when participating in a roundtable meeting held here in conjunction with Prime Minister Datuk Seri Anwar Ibrahim's official visit to Egypt which ended today.

"This roundtable meeting was attended by around 60 industry and business leaders from 47 leading companies and business associations from Egypt," he said at a press conference on the final day of the Prime Minister's visit today.

Tengku Zafrul said during the roundtable meeting that a total of 28 high-value industrial companies including in the automotive, chemical, oleochemical, food, palm oil-based products, personal care, renewable energy, logistics and finance and construction sectors were invited.

He said all the companies concerned have now imported goods and services from Malaysia worth RM505.2 million.

"The roundtable meeting had generated potential exports of RM4.8 billion. This shows great trade opportunities, particularly in the high-value innovation sectors outlined under Malaysia's New Industrial Master Plan (NIMP) 2030," he said.

Tengku Zafrul added that the companies present at the roundtable conference also expressed interest in acquiring various products and services from Malaysian suppliers including automotive spare parts and components, palm oil, cooking oil and fats, oleochemicals, detergents, special chemicals, solar panels and inverters, building materials, and food and beverage products.

-- BERNAMA