Malaysia Attracts 97 Swedish Manufacturing Projects Valued at RM7.77 Billion
Malaysia has attracted 97 Swedish manufacturing projects valued at RM7.77 billion by 2024, creating nearly 6,000 jobs. Bilateral trade reached RM3.58 billion last year, highlighting strong economic ties. Minister Tengku Zafrul anticipates further deepening of these relations, supported by established Swedish firms in the country.
Malaysia has successfully positioned itself as a significant hub for Swedish investments by attracting 97 manufacturing projects with a total value of RM7.77 billion, projected to be realized by 2024. This influx of foreign capital has created approximately 5,982 new jobs in the country, underscoring Malaysia’s resurgence in the global manufacturing landscape.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz highlighted the strength of economic ties between Malaysia and Sweden, noting a record bilateral trade of RM3.58 billion last year. This figure serves as a testament to the vibrant commercial relationship between the two nations.
Minister Tengku Zafrul also acknowledged the presence of several well-known Swedish firms already operating within Malaysia. Notable examples include Spotify, H&M, Ericsson, Volvo, and IKEA, illustrating the diversified nature of Swedish investments in various sectors.
Looking forward, Tengku Zafrul expressed optimism regarding the future of economic relations between Malaysia and Sweden, stating his hope for continued growth and mutual benefits from this burgeoning partnership. The arrival of the new Swedish ambassador to Malaysia, Niklas Wiberg, was welcomed as an opportune moment to further strengthen these ties.
In summary, Malaysia’s strategic appeal for Swedish investments is reflected in the establishment of 97 manufacturing projects totaling RM7.77 billion, contributing to job creation and strengthening bilateral trade. The presence of major Swedish companies signifies a robust economic alliance, while ongoing diplomatic engagements promise further enhancement of these relations. Both nations stand to benefit from continued collaboration in manufacturing and trade.
Original Source: www.bernama.com
