Malaysia Attracts 97 Swedish Manufacturing Projects Worth RM7.77 Billion
Malaysia is set to host 97 Swedish manufacturing projects valued at RM7.77 billion by 2024, creating nearly 6,000 jobs. The Minister of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Abdul Aziz, emphasized the growing economic partnership, including a bilateral trade of RM3.58 billion in the previous year. Notable Swedish companies operating in Malaysia include Spotify, H&M, and IKEA, indicating a solid investment climate.
Malaysia has positioned itself as a prime location for Swedish investments, successfully attracting 97 manufacturing projects valued at RM7.77 billion, with expectations for completion by 2024. This significant inflow of investments has resulted in the creation of 5,982 jobs, enhancing the local economy.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz highlighted the strong economic partnership between the two nations, noting that bilateral trade reached RM3.58 billion last year. He made this announcement in a post on X, coinciding with the introduction of the new Swedish ambassador to Malaysia, Niklas Wiberg.
Furthermore, Tengku Zafrul remarked on the presence of notable Swedish enterprises in Malaysia, such as Spotify, H&M, Ericsson, Volvo, and IKEA. He expressed optimism regarding the continuation of robust economic relations between Malaysia and Sweden, aiming for mutual advantages.
In summary, Malaysia’s attraction of 97 Swedish manufacturing projects reflects a strengthening bilateral relationship, marked by significant investment and job creation. The growing trade volume further underscores the mutual economic benefits anticipated between Malaysia and Sweden, with prominent companies reinforcing this partnership.
Original Source: www.bernama.com
