PM meets business leaders from top Australian companies

MELBOURNE: Prime Minister Datuk Seri Anwar Ibrahim engaged business leaders and top executives from 18 Australian companies on Tuesday in Melbourne in the course of his official visit to Australia, encouraging them to expand their businesses and investments in Malaysia.

Apart from a roundtable meeting session, Anwar, who is also the finance minister, engaged them on a one-on-one basis to hear them out.

The company executives were from the manufacturing sector, including medical devices and metals, as well as the services sector such as data centres, finance, and trading.

Anwar highlighted that Malaysia, under his leadership, has implemented clear and effective policies leading to unprecedented levels of investment. He said the government, which is currently stable, is a major factor in attracting investors to Malaysia. "We have introduced new policies with clarity...and as a result, we have secured both domestic and foreign trade investments, the highest ever in (Malaysia's) history," he noted.

Last month, Anwar announced that Malaysia's approved investments hit RM329.5 billion last year, which was 23 per cent higher compared to 2022, the highest in the country's history.

Of the total investment, Anwar noted that foreign investment was the main contributor, accounting for 57.2 per cent, compared to domestic investment at 42.8 per cent.

In 2023, Malaysia and Australia's bilateral trade stood at US$18.57 billion (RM84.64 billion), with Australia being Malaysia's 10th largest trading partner.

As of December last year, Australia had approved investments in Malaysia involving 582 projects, with realised investments involving 366 projects.

--BERNAMA