PMX’s Working Visit to Egypt, Peru, and Brazil: Advancing Malaysia’s Global Economic Partnerships

In November 2024, the Prime Minister, YAB Dato’ Seri Anwar Ibrahim, led a high-profile working visit to Egypt, Peru and Brazil, accompanied by senior ministers, government officials and a delegation of business leaders. The mission also saw the participation of key representatives from MIDA, including Mr. Sivasuriyamoorthy Sundara Raja, Deputy Chief Executive Officer of Investment Promotion and Facilitation, as well as Mr. Mohd Hamim Hamdan Mustafa and Mr. Ahmad Najmy Hamza from MIDA San Jose, and Mr. Zaidi Asraf, from MIDA United Arab Emirates – Dubai. This strategic visit aimed to deepen Malaysia’s economic ties, uncover new investment opportunities, and reinforce its standing as a global leader in pivotal sectors such as automotive, digital technology, and semiconductors.

The visit commenced in Cairo, where Malaysia’s presence in the Middle East and North Africa (MENA) region was significantly enhanced. The delegation, comprising 17 leading Malaysian companies, engaged with Egyptian industry leaders in sectors such as pharmaceuticals and medical devices.

A Roundtable Meeting co-hosted by MIDA Dubai provided a platform for meaningful discussions, further strengthening ties between the two nations.

One of the key moments during the visit was the launch of Proton Saga’s CKD plant, built in partnership with Ezz Al Arab. With an annual production capacity of 25,000 units annually, this plant aims to capture a larger share of the MENA market, marking a significant milestone of Malaysia’s industrial footprint.

From Egypt, the delegation proceeded to Lima, Peru, where they explored investment opportunities in key sectors such as renewable energy, food processing, and logistics. Malaysia showcased its dynamism in the digital economy through exclusive one-on-one meetings between the Prime Minister and top executives from global tech giants like TikTok and Google.

The final leg of the diplomatic mission took place in Brazil, where Malaysia participated in the G20 Summit in Rio de Janeiro. Accompanied by senior ministers, government officials and representatives from 19 Malaysian companies, the delegation explored opportunities for collaboration in aerospace, semiconductors, and petrochemicals. The discussions at the summit further reinforced Malaysia’s position as a strategic partner for Brazil in advancing foreign investment and cross-border collaboration. A key highlight was a roundtable meeting with 25 leading Brazilian companies, focused on expanding partnerships in several key sectors. The positive reception from Brazilian businesses was an encouraging sign of Malaysia’s growing appeal as an investment destination. Moreover, several Memoranda of Understanding (MOUs) were signed between Malaysian and Brazilian business associations, particularly in the semiconductor sector, signalling strong prospects for future cooperation.

Overall, the working visits to Egypt, Peru, and Brazil in November 2024 were a resounding success, marking a pivotal moment in Malaysia’s efforts to fortify its global economic partnerships. These high-level engagements have opened doors to new investment opportunities and fostered collaborations in vital industries. As Malaysia continues to nurture these relationships, the country’s role as a global economic player is poised for growth, contributing to mutual economic prosperity, technological advancement, and sustainable development in the years ahead.