Malaysia, UAE eye stronger bond in renewable energy
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.
Malaysian Prime Minister Anwar Ibrahim (Photo: Bernama)
Kuala Lumpur (VNA) – Malaysia securedinvestment commitments amounting to 40.6 billion RM (8.6 billion USD) from theUnited Arab Emirates (UAE) in sectors such as renewable energy,aerospace, and logistics as the result of Malaysian Prime Minister AnwarIbrahim’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 DhabiFuture Energy Company PJSC-Masdar for renewable energy projects in Malaysiawith a capacity of up to 10 gigawatts worth 8 billion USD.
Other investment commitments include 450 million USD in thelogistics sector and 150 million USD in the aerospace sector.
During the meetings with UAE President Sheikh Mohamed bin Zayed AlNahyan, and senior ministers in charge of economic trade and investment affairs, Anwar gaveassurances that Malaysia is committed to advancing renewable energy as well asimproving the ease of doing business in the Southeast Asian nation country.
During his two-day working visit, Anwar visited Masdar City, known as theworld's first planned sustainable city.
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Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.