Malaysia Attracts 97 Swedish Manufacturing Projects Worth RM7.77 Billion
Malaysia is set to welcome 97 Swedish manufacturing projects worth RM7.77 billion by 2024, creating nearly 6,000 jobs. Minister Tengku Zafrul reported bilateral trade of RM3.58 billion last year, signifying strong ties, with major Swedish companies already established in the country.
Malaysia has positioned itself as a significant hub for Swedish investment, with 97 manufacturing projects totaling RM7.77 billion expected by 2024. This influx has resulted in the creation of approximately 5,982 jobs, showcasing the positive impact of foreign investment on the Malaysian economy.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz highlighted the strong economic ties, noting that the bilateral trade between Malaysia and Sweden surged to RM3.58 billion in the previous year. This figure underscores the robust relations between the two countries.
The minister also recognized the presence of numerous established Swedish companies operating within Malaysia, such as Spotify, H&M, Ericsson, Volvo, and IKEA. These firms are contributing significantly to the local economy.
Tengku Zafrul expressed optimism that the economic partnership between Malaysia and Sweden will continue to flourish, benefiting both nations, particularly in sectors of investment, trade, and technology.
In summary, Malaysia’s attraction of 97 Swedish manufacturing projects highlights its appeal as an investment destination, resulting in significant job creation and enhanced bilateral trade. The ongoing collaboration between the two countries benefits various sectors and promises further economic growth.
Original Source: www.bernama.com
