Stuglev speaking during an exclusive interview after the World of Opportunities: Russia-Asean International Business Forum. – BernamapicMalaysian companies are encouraged to explore the vast opportunities offered by Russian businesses, particularly in digitalisation and information technology , said Roscongress Foundation.
Stuglev pointed out the significant potential for collaboration between Russia and Malaysia in the renewable energy sector. He said Malaysia aims to produce 70% of its electricity from renewable energy sources by 2050, while Russia, in turn, is ready to share its expertise in the development of wind, solar and hydropower energy.
Malaysia’s exports to Russia grew by 13% to US$619.3 million in 2023, while Russia’s exports to Malaysia rose by 10.8% to US$2.49 billion. “This enables Malaysia’s companies to explore opportunities in Russian projects related to energy, infrastructure, and technology. Conversely, Russian investors can consider projects in Malaysia, particularly in high-tech and manufacturing sectors,” he said.
These forums serve as platforms to discuss BRICS cooperation, foster business connections, advance joint projects, and formalise agreements between Malaysian and Russian companies, he said. The document introduces new areas of collaboration and clear indicators to evaluate the effectiveness of joint projects, building on the current 2021-2015 roadmap.