Prime Minister Datuk Seri Anwar Ibrahim held a meeting on Tuesday with tycoons from several family-owned conglomerates, locally known as ‘chaebols’, as part of efforts to attract more foreign direct investment (FDI) into Malaysia.

Chaebols are large, family-owned industrial conglomerates in South Korea, which have traditionally enjoyed close ties with the government.

Federal support for these entities began after the Korean War as part of efforts to rebuild the nation’s economy.

Anwar, the finance minister, is also scheduled to hold one-on-one meetings starting at 9am (South Korea time) with major corporations including Samsung Group, SK Nexilis, Posco Group and Lotte International.

These discussions align with Malaysia’s strategy to secure ‘high-value, high-growth’ investments from the Republic of Korea.

Source: Bernama

Anwar meets South Korea’s business tycoons, eyes more investments

The Malaysian delegation to South Korea led by Prime Minister Datuk Seri Anwar Ibrahim has secured RM32.8 billion in potential investments.

Anwar said meetings with chaebol (conglomerates) and several prominent South Korean companies had generated high-impact investment prospects.

“Thus far, the potential investments generated from this visit have reached RM32.8 billion, with immediate exports from Malaysia amounting to RM1.3 billion,” he said during a press conference with Malaysian media here today.

He concluded his three-day official visit to South Korea today following an invitation from President Yoon Suk Yeol.

His visit since Sunday had further strengthened bilateral relations between the two nations.

Meetings with major South Korean companies have also opened doors to attract high-impact investments to Malaysia.

In response to a question regarding Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor’s allegations of a plot to derail private investments in the state, Anwar said: “I (Anwar) am also Kedah’s agent for bringing in foreign investments.

“Even though he (Sanusi) says so, I still support Hyundai’s investment (in Kulim).

“(Although) there were other potential locations, due to the infrastructure provided and export channels via Penang Port and Penang Airport, we suggested Kulim.”

Currently, about 400 South Korean companies operate in Malaysia across various sectors, including construction.

Investment, Trade, and Industry Minister Datuk Seri Tengku Zafrul Tengku Aziz, who accompanied the prime minister on the visit, said the potential investments were in sectors such as electric vehicles (EVs), EV-related metals, biopharmaceuticals, green technology, carbon capture and storage, and green hydrogen.

“So far, only Hyundai Motor has made an official announcement, following the approval of their commitment by its board of directors,” he said.

Today, Hyundai Motor announced a USD 479 million (about RM2.14 billion) investment in Malaysia over the next five years, starting in 2025.

Hyundai Motor will collaborate with local company Inokom Corporation Sdn Bhd to upgrade its manufacturing plant in Kulim.

The upgraded facility is scheduled to begin production of Hyundai’s multi-purpose vehicles (MPVs) and Staria minivans by mid-2025.

It plans to expand its range to include medium—to large-sized SUVs.

Hyundai Motor said production would begin at 20,000 units per year, with plans for expansion.

Source: NST

Malaysia secures RM32.8bil in potential investments from South Korea

The Johor government is ramping up efforts to equip local talents for high-value job opportunities created through the Johor-Singapore Special Economic Zone (JS-SEZ).

The initiative, anchored by the state’s skills training programme Pro-Mahir, is spearheaded by the newly established Johor Talent Development Council (JTDC).

State Investment, Trade, Consumer Affairs, and Human Resources committee chairman, Lee Ting Han (BN-Paloh) said Pro-Mahir had trained 3,500 participants with RM17 million allocation since its launch in 2018.

He said the ‘train and place’ programme focused on providing technical and professional skills aligned with industry needs while ensuring job placements post-training.

It targets fresh graduates, career switchers, and those requiring upskilling to remain competitive.

It emphasises technical expertise and soft skills like communication, leadership, and problem-solving.

“Building on Pro-Mahir past success, the state government allocated RM3 million in the 2025 Budget to continue and expand the programme under JTDC.

“Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi approved RM20 million additional fund to support JTDC initiatives on Nov 3,” he said in response to questions from Mohd Yusla Ismail (BN-Senggarang) at the state legislative assembly sitting today.

Lee said the funds, managed through HRD Corp, will ensure the implementation of holistic and industry-specific training programmes.

He said JTDC will align its initiatives with the demands of industries within JS-SEZ, conducting market analyses to tailor courses to emerging job opportunities.

JTDC’s agenda includes attracting and retaining top-tier talent by promoting high-quality jobs with competitive salaries.

Johor’s premium wage initiative aims to link outstanding graduates with roles offering monthly salaries ranging between RM4,000 and RM5,000.

The initiatives are expected to reduce unemployment, boost household incomes, and position Johor as a globally competitive economic hub.

“By focusing on fields like technology and innovation, the government seeks to ensure local workers benefit directly from JS-SEZ’s rapid growth, solidifying Johor’s standing as a leader in national and international economic development,” said Lee.

Source: NST

Johor enhances efforts to empower local talents for Johor-Singapore SEZ

Malaysia and South Korea have reiterated their commitment to fostering an investment climate aligned with environmental, social, and governance (ESG) principles.

The announcement was made during a bilateral meeting between Prime Minister Datuk Seri Anwar Ibrahim and South Korean President Yoon Suk Yeol in Seoul on Monday.

In a joint statement following their meeting, both leaders highlighted the importance of advancing research and development initiatives and promoting technological exchanges between businesses in their respective countries.

“The focus areas include Fourth Industrial Revolution technologies, the digital economy, the halal ecosystem, and the green agenda,” the statement said.

The statement also underscored the shared commitment to expanding trade, investment, and economic collaboration.

“Both sides agreed to expedite the bilateral Free Trade Agreement (FTA) negotiations, which resumed in March 2024, to conclude them by 2025,” it said.

The leaders pledged to secure mutually beneficial outcomes for businesses in both nations, including small and medium enterprises (SMEs).

Through the FTA, they are committed to enhancing cooperation in trade and investment and emerging sectors such as the digital economy, green economy, and bioeconomy.

Furthermore, both sides recognised the importance of deepening cooperation on economic security, including cooperation in areas and issues such as supply chain resilience.

Noting that collaboration between SMEs and start-ups could reinforce innovation and national competitiveness, both sides agreed to provide further assistance to boost cooperation and exchanges between SMEs and start-ups.

Meanwhile, having commemorated the 40th Anniversary in 2023, both sides recognised that the Look East Policy (LEP) has contributed to enhancing the economic relations between the two countries since its inception in 1983.

Recalling the adoption of the Guiding Document of the Second Wave of the Look East Policy (LEP 2.0) in 2014, both sides reaffirmed their commitment to working together to maximise the potential of LEP 2.0 in strengthening economic and trade relations.

“Both sides further recognised the significant role of the Economic Cooperation Committee (ECC) in strengthening economic cooperation under LEP 2.0 and reaffirmed their commitment to hold ECC meetings regularly,” it said.

In terms of digital and ICT cooperation, Malaysia and South Korea recognised the importance of the digital government in increasing competitiveness and driving economic growth, with both sides agreeing to work together more closely on the digital government through knowledge sharing, joint capacity-building activities, and consultations.

The statement noted the launch of the Malaysia Digital Economy Blueprint in February 2021, with both sides agreeing to explore ways to strengthen cooperation in areas such as ICT policies, 5G, AI, and Big Data based on the Memorandum of Understanding on Information and Communications Technology Cooperation signed by the two countries in November 2019.

“Both sides highlighted the value of ICT in achieving equitable, inclusive, and sustainable economic growth and noted with satisfaction the successful completion of the IT cooperation project on AI-based smart farms,” it added.

Source: Bernama

Malaysia, South Korea to foster ESG investments, technological collaborations

Malaysia and South Korea have elevated their bilateral relations to a Strategic Partnership, marking a significant milestone in their decades-long cooperation.

The announcement was made during a bilateral meeting between Prime Minister Datuk Seri Anwar Ibrahim and South Korean President Yoon Suk Yeol in Seoul on Monday.

In a joint statement issued after the meeting, both leaders reaffirmed their commitment to enhancing collaboration in four key areas: peace and security, economic development, culture and education, and regional and global cooperation.

“This Strategic Partnership signifies the shared determination of Malaysia and South Korea to expand cooperation to new horizons in promoting freedom, peace, and prosperity while addressing pressing global challenges,” said the statement.

The two leaders agreed to deepen defence and security ties, including cooperation in the defence industry and efforts to tackle non-traditional security issues such as cybercrime and drug trafficking. They also acknowledged the importance of regular high-level exchanges to strengthen mutual trust and strategic relations.

On the economic front, both sides committed to accelerating Free Trade Agreement negotiations to conclude them by 2025.

They also pledged to strengthen collaboration in emerging sectors such as the halal economy, digital technologies, and the green agenda.

The leaders highlighted the legacy of Malaysia’s Look East Policy, which has bolstered cultural and educational exchanges over the past 40 years.

They intended to sign a new Memorandum of Understanding to deepen bilateral tourism cooperation.

Yoon also reiterated South Korea’s support for Malaysia’s ASEAN Chairmanship in 2025, underscoring the importance of regional and global collaboration to address shared challenges.

The Joint Statement further condemned the use of ballistic missile technology by North Korea and called for strengthened international efforts to address humanitarian crises, including the situation in Gaza.

“The Strategic Partnership reflects our shared commitment to addressing regional and global issues through collaboration within ASEAN and other multilateral platforms,” the statement added.

The Strategic Partnership extends to healthcare and medical science, with both nations committing to enhancing preparedness for potential future outbreaks.

Drawing from lessons learned during the COVID-19 pandemic, they agreed to share policies, foster research and development, and expand partnerships in areas such as vaccines, pharmaceuticals and healthcare technology.

“The Memorandum of Understanding (MoU) signed in November 2019 serves as a foundation for promoting the health of our peoples and advancing our healthcare industries,” the statement noted.

Addressing climate action, both sides reaffirmed their dedication to reducing greenhouse gas emissions and advancing clean energy technologies, including hydrogen energy and small modular reactors (SMRs).

The launch of the ROK-Malaysia Climate Change Dialogue in 2023 was welcomed as a platform for enhancing bilateral efforts to combat climate change.

Cultural and educational exchanges were also prioritised, with both leaders acknowledging the success of the Look East Policy (LEP) in strengthening ties.

Malaysia and South Korea agreed to promote student exchanges, expand vocational education cooperation, and deepen cultural collaborations under a MoU signed in 2020.

“Both sides also decided to work together to foster Technical and Vocational Education and Training (TVET) cooperation involving various participants, including central and local governments, TVET institutions, and corporations,” said the statement.

In tourism, the leaders celebrated the resurgence of visitors between the two nations and committed to signing a new MoU to further facilitate bilateral travel and strengthen consular cooperation.

Agriculture was also highlighted as another critical area, with both countries agreeing to advance research and development in smart agriculture and mechanisation while promoting collaboration in halal food production.

Digital cooperation was also discussed, with both sides agreeing to enhance collaboration in 5G, artificial intelligence (AI) and Big Data.

Notable projects, such as the AI-based smart farms initiative, underscore the success of such partnerships.

Earlier, both leaders will also witness the exchange of three Memoranda of Understanding on Cooperation in the Field of Higher Education, Cooperation in the Field of Carbon Capture and Storage and Cooperation in Cooperative Approaches Under Article 6, Paragraph 2 of the Paris Agreement.

Anwar arrived here on Sunday for a three-day official visit to South Korea to further strengthen bilateral relations between Malaysia and South Korea.

Both countries will be celebrating the 65th anniversary of the establishment of diplomatic relations in 2025.

Source: Bernama

Malaysia, South Korea elevate relations to strategic partnership

Prime Minister Datuk Seri Anwar Ibrahim has welcomed investors from South Korea to explore the various opportunities available in Malaysia and to collaborate in efforts to boost and achieve mutual prosperity.

Anwar who also the Finance Minister said he had met with several chief executive officers during the C-Suite Insight Session as well as delivered a speech at the Malaysia-Korea Business Forum 2024 after meeting with South Korean President Yoon Suk Yeol today.

“This event (meeting) stressed on the close relationship between Malaysia and South Korea, besides highlighting our commitment to innovation and sustainable growth,“ he said in post on X platform today.

In his speech at the forum, Anwar also welcomed the presence of over 200 participants representing 147 South Korean companies from various sectors including semiconductor, electric vehicle, green technology, and artificial intelligence (AI).

“In this same space, I shared Malaysia’s policies under the MADANI Economic Framework, supported by initiatives such as the New Industrial Master Plan 2030, the National Energy Transition Roadmap, and the Semiconductor Strategic Plan,“ he said.

Anwar said the C-Suite Platform provided a space for Malaysia to engage directly with leading South Korean companies such as Samsung, SIMMTECH, Poongsan Corporation, Lotte Energy Materials, and Kumho Petrochemical.

“These companies presented their plans for Malaysia, including investments in sectors such as semiconductor, renewable energy, rare earth processing, and the halal industry.

“Their commitment to Malaysia is exciting and reflects their confidence in Malaysia’s stability, policies, and as a strategic investment destination,“ he said.

Anwar and his delegation arrived in Seoul yesterday in conjunction with his three-day official visit to South Korea to further strengthen bilateral relations between Malaysia and South Korea.

Both countries will be celebrating the 65th anniversary of the establishment of diplomatic relations in 2025.

Source: Bernama

PM Anwar encourages South Korean investors to explore opportunities in Malaysia

Negeri Sembilan has the potential to be developed into an industrial state, which could significantly boost its revenue, says Chennah assemblyman Anthony Loke.

The Transport Minister noted that Malaysia was increasingly attracting foreign investors, with major corporations expressing interest in investing, and states should capitalise on this opportunity.

“Negeri Sembilan must seize this advantage by intensifying efforts to attract investors and focusing on how to draw them in. The state government should also identify a specific area or site suitable for industrial development.

“Previously, Nilai and Enstek were identified as the nation’s logistics hubs…I am confident that more industrial zones can be established, turning Negeri Sembilan into an industrial state,“ he said during the debate on the 2025 Supply Bill at the Negeri Sembilan State Assembly in Wisma Negeri here, today.

Loke also highlighted plans for a container port in Pasir Panjang, Port Dickson, and called for the development of large-scale industrial areas in the district to enhance the port’s operational efficiency.

“Port Dickson offers ample opportunities to be developed into a competitive and advanced industrial zone. This would increase the state’s revenue, including land premiums and assessment taxes, if more industrial areas are established.

“With increased revenue, we can reinvest in the people through more initiatives for their benefit,“ he said, lauding Menteri Besar Datuk Seri Aminuddin Harun’s announcement of a balanced RM590 million 2025 State Budget on Friday.

Aminuddin’s budget presentation focused on nine key pillars, including economic resilience, food security, and education.

Meanwhile, Saiful Yazan Sulaiman (BN-Johol) called for increased allocations for the Orang Asli community in Negeri Sembilan to ensure that the over 4,000 residents from 43 registered villages are not left behind.

He also urged the state government to improve infrastructure and expand Technical and Vocational Education and Training (TVET) programmes to benefit the Orang Asli community.

Datuk Mohd Zaidy Abdul Kadir (BN-Jeram Padang) concurred, advocating for TVET expansion in rural areas and better dissemination of programme information to ensure it reaches students in these regions.

“Information on TVET is not reaching its intended audience. I believe wider promotion is needed. The MADANI Government prioritises TVET, and it would be a missed opportunity if we neglect this,“ he said.

The state assembly sitting continues tomorrow.

Source: Bernama

Negeri Sembilan tipped for industrial development to boost state revenue

Perak has good potential to be a contributor to the national economy compared to other states, Economic Affairs Minister Rafizi Ramli said.

He said it was clearly seen through several planned projects at the federal and state level, including the Lumut Marine Industrial City (LuMIC), Perak Halal Industrial Park (Perak HIP), Silver Valley Technology Park (SVTP), Kerian Integrated Green Industrial Park (KIGIP) and the Automotive High Technology Valley (AHTV).

“In terms of development planning, the industry nodes have been set, one in the north, one in central, another in the south, and then in the west. These are national-scale projects with the potential of bringing in industry clusters.

“Then in terms of workforce, Perak has a good foundation, that’s why I feel if given focus and brought together with planning between the Perak and Federal Government to complete the infrastructure to support these nodes, actually Perak has comprehensive industrial planning from north to south, till the west,” he said at a media conference after an 13th Malaysia Plan (13MP) engagement session with the Perak state government here today.

He said that in the next two to three years when more projects achieve physical progress, Perak might be in a better position than currently in terms of contribution to the national economy.

“I think (Perak) is currently the seven largest contributor to the national GDP (Gross Domestic Product), and it has the potential of overtaking other states with this existing plan,” he added.

Source: Bernama

Perak has potential to be good contributor to national economy – Rafizi

Malaysia must strengthen its collaboration with other countries to mitigate the risks posed by a fragmented global supply chain, especially amid escalating US-China trade tensions, following Donald Trump’s return to the US presidency, Deputy Investment, Trade and Industry Minister Liew Chin Tong said on Monday.

“We are concerned about this issue (US-China trade tensions). There is an intentional attempt to bifurcate the global supply chain — the US for the US, China for China. 

“We need to work with the middle [powers] to avoid the risks,”  Liew told reporters after inaugurating the Malaysia Semiconductor Industry Association’s (MSIA) National E&E Forum.

According to Liew, the Malaysian government and MSIA have signed a memorandum of understanding (MOU) with Brazil’s semiconductor industry, involving key organisations such as the Brazilian Association of the Semiconductor Industry and the Brazilian Association of the Electrical and Electronics Industry.

Additionally, the government is in discussions with the Netherlands government to strengthen ties with semiconductor equipment giants like ASML Holding, he said. 

In addition, Liew urged Malaysia to move beyond its traditional role as a manufacturing hub and focus on higher-value sectors such as research and development, innovation, and advanced technology production, particularly as the world shifts towards artificial intelligence (AI).

“Creating our own technology is not easy. We must rethink our approach. Too often, the conversation revolves around securing more government grants, lamenting insufficient funds, or seeking foreign direct investment,” he said. 

Liew called for a broader approach, suggesting the adoption of a flexible industrial policy framework, emphasising that it does not need to be fully fledged. 

“As a trading nation with an open economy, we have limitations, but we must broaden our thinking to explore what tools we can utilise from the industrial policy toolbox.

“Secondly, we also will need to look at how to marry public funds and private funds. It is important that each of these investments shouldn’t be just grant-based,” he added. 

Malaysia’s first Edge AI system 

The National E&E Forum also witnessed the signing of an MOU between Penang-based design companies Elliance Sdn Bhd and SkyeChip Sdn Bhd, as well as an MOU between Elliance, Kaltech Sdn Bhd, and Estek Automation Sdn Bhd, to jointly develop Malaysia’s first Edge AI system.

Edge AI involves the deployment of AI applications on devices in the physical world. The AI computation is performed near the user, at the edge of the network, close to where the data is located, rather than centrally in a cloud computing facility or private data centre.

“This partnership bears significant meaning for Malaysia, as it is the building block towards Malaysia’s first locally designed and manufactured Edge AI system, including Malaysia’s AI chip,” MSIA president Datuk Seri Wong Siew Hai commented. 

“Many more Malaysian companies will be involved in different stages of development and production, which will bring more opportunities to them. The increased confidence that propagates throughout the local AI ecosystem will soon put Malaysia on the AI world map,” he added. 

Malaysia is the world’s sixth largest exporter of electronics and semiconductors, and it plays a critical role in the global E&E supply chain.

For perspective, the country is responsible for 7% of semiconductor trade flows, as well as 13% of back-end operations globally, including chip testing and packaging.

Source: The Edge Malaysia

MITI: Malaysia to work with middle powers to address bifurcation of supply chain amid US-China trade war

Prime Minister Datuk Seri Anwar Ibrahim is scheduled to meet leaders of South Korean conglomerates, or “chaebol”, to attract more foreign direct investments to Malaysia.

Malaysian ambassador to the Republic of Korea Datuk Mohd Zamruni Khalid said a series of meetings with key corporate figures and businessmen of the country’s giant companies will be held on the second day of the official visit.

The Prime Minister is scheduled to arrive in Seoul at 10 pm tonight (9 pm Malaysian time) for an official visit to the country for three days starting today until Nov 26 at the invitation of South Korean President Yoon Suk Yeol. In addition, Mohd Zamruni said the Prime Minister would also speak at a business forum that is expected to be attended by more than 180 South Korean companies.

“In general, this official visit is expected to further strengthen bilateral relations between Malaysia and South Korea through agreements that will be sealed on many regional and international issues of mutual interest, including the strengthening of trade and investment initiatives,“ he told the Malaysian media here today.

Until October 2024, the total trade between Malaysia and South Korea is RM91.1 billion (US$19.8 billion).

Malaysia’s total exports to South Korea were valued at RM43.95 billion (US$9.6 billion) while Malaysia’s total imports from South Korea were worth RM47.1 billion (US$10.3 billion) this year.

“South Korea is the seventh largest trading partner for Malaysia while Malaysia is the 11th largest trading partner for South Korea. Total investment is RM61 billion with 616 projects,“ he noted.

This is Anwar’s first official visit to the country since he was sworn in as Prime Minister on Nov 24, 2022.

During the three-day visit, Anwar, who is also the finance minister, is scheduled to hold a bilateral meeting with Yoon at the Office of the President of the Republic of Korea.

“During this meeting, the two sides are expected to discuss several matters that include bilateral cooperation in the economic field such as trade and investment as well as cooperation in the field of defence and security. Apart from that, cooperation in the field of infrastructure, energy transition and the environment, agriculture and food, and in relations between people, including education, cultural exchange and the tourism sector are also expected to be discussed,“ the ambassador said.

In addition, Mohd Zamruni said the two leaders are scheduled to witness the exchange of four memorandums of understanding, among them involving cooperation in the carbon capture and storage (CCS) and the higher education sectors.

He said Yoon will host a luncheon in honour of the prime minister and that Anwar will also meet Malaysians who work in South Korea, in addition to being interviewed by Chosun Ilbo and Chosun TV, an influential Korean-language newspaper and television station, on Tuesday. In the interview, he said Anwar would touch on Malaysia-South Korea bilateral relations, trade and investment as well as Malaysia’s ASEAN chairmanship in 2025.

He added that the Prime Minister is also expected to meet with local Muslim community leaders from the Korea Muslim Federation (KMF), an official body recognised as the parent body to represent the Muslim community in the Republic of Korea, during which a donation of copies of the Al-Quran with English and Korean translations to KMF will be made.

The Prime Minister is also scheduled to deliver a special public lecture entitled “Strategic Partners in a Complex World: Malaysia, Korea, and the Future of Asia” at Seoul National University (SNU), a top Korean university.

“The Prime Minister’s visit this time is very significant to reflect the close relationship between Malaysia and the Republic of Korea. What’s more, the two countries will celebrate the 65th anniversary of diplomatic relations in 2025,“ the ambassador noted.

The two leaders are expected to affirm the commitment of both countries to strengthening bilateral relations through more comprehensive cooperation, especially in economy and investment, defence, education and tourism.

Source: Bernama

PM Anwar will meet South Korea’s chaebol leaders, attract foreign investment

Malaysian Prime Minister Datuk Seri Anwar Ibrahim will undertake an official visit to South Korea from November 24 to 26 to further strengthen bilateral ties as the two nations prepare to celebrate 65 years of diplomatic relations in 2025.

In a statement, the Foreign Ministry said Anwar’s first official visit to South Korea since assuming office in November 2022, is at the invitation of South Korean President Yoon Suk Yeol.

The ministry stated that during the visit, Anwar is scheduled to hold a bilateral meeting with Yoon at the Yongsan Presidential Office.

“Both leaders will take stock of Malaysia-South Korea bilateral relations that have significantly progressed, in scope and substance, since the establishment of diplomatic ties in 1960.

“They are also expected to discuss regional and international issues of mutual concern, and exchange views on Malaysia’s Chairmanship of ASEAN and South Korea’s Chairmanship of Asia-Pacific Economic Cooperation (APEC), in 2025,” the statement read.

According to the Foreign Ministry, Anwar and Yoon will witness the exchange of three Memoranda of Understanding (MoUs) on Cooperation in the Field of Higher Education, Cooperation in the Field of Carbon Capture and Storage, and Cooperation in Cooperative Approaches (under Article 6, Paragraph 2 of the Paris Agreement).

Anwar is also scheduled to attend the Malaysia-South Korea Business Forum and meet with captains of industry from major South Korean companies.

Additionally, the prime minister is set to deliver a special address titled “Strategic Partners in a Complex World: Malaysia, Korea, and the Future of Asia” at the Seoul National University.

He will be accompanied by Foreign Minister Datuk Seri Mohamad Hasan, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Science, Technology and Innovation Minister Chang Li Kang, National Unity Minister Datuk Aaron Ago Dagang, and senior government officials.

From January to September this year, Malaysia’s trade with South Korea was valued at RM81.61 billion (US$17.63 billion). From 1980 to June 2024, a total of 392 manufacturing projects with South Korean participation have been implemented with total investment worth RM43.10 billion (US$11.50 billion).

In 2023, South Korea was Malaysia’s 8th largest trading partner with trade valued at RM111.07 billion (US$ 24.35 billion). Malaysia was South Korea’s third largest trading partner among ASEAN Member States and 12th largest globally.

Malaysia and South Korea will celebrate the 65th anniversary of the establishment of diplomatic relations in 2025.

Source: Bernama

PM Anwar to strengthen Malaysia-S.Korea ties during official visit

Sabah is keen to see Chinese investors explore new opportunities in the state’s Blue Economy sector, says Chief Minister Datuk Seri Hajiji Noor.

He said the initiative offers immense investment opportunities in fisheries and aquaculture, logistics, tourism, renewable energy, mineral resources, biotechnology and pharmaceuticals.

“We are pleased that Sabah has remained a sought-after destination for China visitors, both for leisure and for business.

“Sabah’s exports to China amounted to RM7.6bil or 19.5% of the state’s total exports in 2023 with key exports including palm oil, timber, seafood, and rubber while imports included machinery, electronics, and various manufactured goods,” he said after officiating at the Malaysia (Sabah)-China Business Summit on Friday (Nov 22) night.

His speech was delivered by Deputy Chief Minister Datuk Seri Dr Joachim Gunsalam.

The Blue Economy is an initiative that promotes sustainable practices in using ocean resources for economic growth, comprising four main components namely harvesting of living resources, extraction of non-living resources, commerce and trade in and around the oceans; and response to ocean and river health challenges.

Hajiji said there were also opportunities to explore under the Blue Carbon initiative, waste management and pollution control, research and development, and marine infrastructure.

“We see vast potential in green technology and high-tech agriculture, smart cities, manufacturing, renewable energy, e-commerce and education.

“Similarly, the energy sector presents significant opportunities while oil and gas (O&G) remain important revenue streams for Sabah. We welcome investors to also explore solar and storage technologies, hydro, geothermal, and carbon market opportunities,” he added.

Hajiji said that Chinese investments in the Kota Kinabalu Industrial Park (KKIP) have created jobs and spurred economic growth particularly in solar glass, food, and rubber manufacturing.

“We welcome advanced technologies like drones to optimise logistics and manufacturing while exploring other sectors to drive sustainable economic development,” he added.

To ensure a skilled workforce, Hajiji said the state government also encouraged partnerships for twinning programmes and cultural exchanges.

“We aim to promote joint educational programmes and cultural exchanges that will build bridges of trust and understanding between the people of Sabah and China,” he added.

Source: The Star

Sabah keen on Chinese investment in Blue Economy sector, says Hajiji