Malaysia, UAE eye stronger bond in renewable energy

Malaysian Prime Minister Anwar Ibrahim (Photo: Bernama)

Kuala Lumpur (VNA) – Malaysia secured investment commitments amounting to 40.6 billion RM (8.6 billion USD) from the United Arab Emirates (UAE) in sectors such as renewable energy, aerospace, and logistics as the result of Malaysian Prime Minister Anwar Ibrahim’s visit to the Persian Gulf country which concluded on October 7.

Among them was the signing of a memorandum of understanding (MoU) between the Malaysian Investment Development Authority (MIDA) and Abu Dhabi Future Energy Company PJSC-Masdar for renewable energy projects in Malaysia with a capacity of up to 10 gigawatts worth 8 billion USD.

Other investment commitments include 450 million USD in the logistics sector and 150 million USD in the aerospace sector.

During the meetings with UAE President Sheikh Mohamed bin Zayed Al Nahyan, and senior ministers in charge of economic trade and investment affairs, Anwar gave assurances that Malaysia is committed to advancing renewable energy as well as improving the ease of doing business in the Southeast Asian nation country.

During his two-day working visit, Anwar visited Masdar City, known as the world's first planned sustainable city.

The Malaysian PM interacted with representatives from 35 businesses in a roundtable seminar, and met with those from G42 – a firm operating in AI./.

VNA