MY has potential to become economic giant, says PM Anwar

Speaking at the 47th annual general meeting of the American Malaysian Chamber of Commerce (AMCHAM), prime minister Anwar Ibrahim has reportedly said that Malaysia has significant potential to emerge as an economic giant.

He added that the government is addressing the issue of preparedness to undertake the necessary measures to ensure Malaysia remains competitive and continues to grow, according to Bernama.

In a statement seen by A+M, Anwar also said that Malaysia will remain an open trading nation and welcomes investments including those from the United States.

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In addition, the prime minister urged companies under AMCHAM to focus on building technology transfer, centres of excellence, and training in the country, rather than just focusing on trade and investment.

Adding that Malaysia has the workforce, infrastructure and the semiconductor ecosystem, the government is now reportedly pushing ahead on the issue of energy transition too.

He reportedly explained that Penang is an example of how investments from foreign investors have benefitted the country's economy, adding that Intel Corporation used Penang as its base. This, in turn, allowed Penang to emerge as one of the major centres for semiconductors in the country, Anwar reportedly said.

Earlier in May this year, Anwar said that he received a courtesy visit from Mubadala Energy chief executive officer Mansoor Mohamed Al Hamed where he was informed about the focus and progress of Mubadala Energy's investment in Malaysia.

Mubadala Energy is an international energy company headquartered in Abu Dhabi. The company, according to Anwar, is currently active in renewable energy and decarbonisation initiatives through investments in value chain development such as blue hydrogen and carbon capture, use and storage (CCUS).

Meanwhile, tech giant Google has invested US$2 billion in Malaysia to accelerate digital transformation in the country. This includes the development of its first Google data centre and Google Cloud region to meet the growing demand for cloud services locally and around the world.

The site of the Malaysia investments will be in Sime Darby Property's Elmina Business Park, in Greater Kuala Lumpur.

The Google data centre will power Google's popular digital services, such as Search, Maps, and Workspace. It will also play an essential role in enabling Google to deliver the benefits of Al to users and customers across the country.

Photo courtesy Anwar Ibrahim, Facebook.

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