KUALA LUMPUR, Sept 16 — The Ministry of Investment, Trade and Industry has secured a total of RM20 billion of committed investments from Singapore since January 2023 with the latest of RM7 billion foreign direct investment received from investors via the ministry’s recent investment mission, led by minister Datuk Seri Tengku Zafrul Aziz, to the neighbouring country.
It said the INV New Material Technology planned to build a state-of-the-art manufacturing facility to produce battery separators for electric vehicles . Agrocorp started trading agri-commodities in 1990 and has since grown to achieve over US$3 billion in turnover, handling more than 30 agri-commodity products across 50 countries.
Tengku Zafrul said the recent announcement of RM7 billion in committed investments from the republic is a testament to Malaysia’s attractiveness as a preferred investment destination and a reflection of the long-standing, mutually beneficial relationship between Malaysia and Singapore in trade and investments.
Tengku Zafrul said the ministry and its agencies such as the Malaysian Investment Development Authority would continue to pursue high-quality, strategic and sustainable investments that would not only grow Malaysia’s GDP and boost the development of the local economy but also create new job opportunities.
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