More investment and a thriving bilateral trade brand Prime Minister’s official visit to Qatar

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DOHA (29 March): Malaysian Prime Minister Datuk Seri Ismail Sabri Yaakob’s official visit to Qatar has been fruitful for the country with more investment, thriving two-way trade and potential for collaboration across a range of sectors, namely l halal industry, Islamic banking and renewable energies. energy.

Doha and Putrajaya have seen a significant increase in the value of trade between the two countries, although the world is still grappling with the threat of Covid-19.

The Prime Minister said the value of trade in the first two months of this year increased by 30.9% to RM610 million from RM470 million in the same period last year.

“I am also grateful that Qatar has chosen Malaysia as a major investment destination in Southeast Asia, particularly in the real estate and service sectors.

“So far, the value of Qatar’s investment in Malaysia exceeds US$3.2 billion (RM13.49 billion),” he said at a press conference with the authorities. Malaysian media at the end of his three-day official visit to Qatar on Tuesday March 29. ).

Ismail Sabri said during his meeting with the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, after the official reception at the Amiri Diwan on Tuesday morning, that the two sides also agreed to continue discussions to determine the objective investment to be achieved within two years.

“In view of the opening of the border between the two countries and the transition phase to the endemic, I believe that Malaysia and Qatar should take the opportunity to further strengthen bilateral cooperation in various fields, including the halal industry, food, Islamic banking, renewable energy, as well as oil and gas,” he said.

The Prime Minister said his visit to the Baladna beef farm and dairy facility on Monday March 28 led to a memorandum of cooperation signed in 2019 for Baladna to be a partner of Felda Global Ventures (FGV). and Felcra in a large-scale project. The dairy farm joint venture project in Malaysia is to be finalized by June.

“The strategic collaboration between Baladna, FGV and Felcra involves an investment of US$500 million (RM2.1 billion) for the development of a large-scale dairy project in Chuping, Perlis.

“Baladna has also agreed to increase the investment by another $500 million (RM2.1 billion) for the development of dairy projects in Pahang.

“This investment will create over 2,000 jobs and increase the competitiveness of the local dairy industry,” he said.

Ismail Sabri said during his meeting with Sheikh Tamim that Malaysia has also put forward proposals to explore investment opportunities in Qatar from Malaysian companies.

Among them, the North Field Expansion project, which spans three phases.

“I proposed that Petronas be given the opportunity to participate in this project. Alhamdulillah, my proposal was well received by the Emir of Qatar,” he said.

The other two proposals were to make Malaysia the hub for Qatar Airways flights to ASEAN countries and for Qatar to import more palm oil from Malaysia as an alternative to sunflower oil.

During the press conference, Ismail Sabri also expressed his appreciation for Qatar’s commitment to hosting the 14th World Islamic Economic Forum (WIEF) next year.

“WIEF has the potential to help the business community, especially in Muslim countries affected by the Covid-19 pandemic,” he added.

Ismail Sabri arrived in Doha on Saturday March 26.

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