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KUALA LUMPUR: Prime Minister Tan Sri Muhyiddin Yassin’s (pix) recent visit to Saudi Arabia is set to open up further avenues in boosting bilateral ties in all fronts, especially in the trade and economic sphere between the two countries.
Saudi’s Investment Minister Khalid al-Falih pointed out the many achievements in so far, with Saudi being one of the largest trading partners for Malaysia and one of the 20 countries from Middle East with large investments in Malaysia.
Khalid pointed out the kingdom has two investment projects under establishment in Johor worth 64 billion Riyal (1 Riyal = RM1.09) and 44 other projects in Malaysia worth more than 1.038 billion Riyal, while Malaysia in turn has invested in 38 projects in Saudi with a total value of 1.59 billion Riyal.
“The Kingdom’s 2023 vision provides exceptional investment opportunities for the investors and leading companies in the world,“ he said in a statement sent by Saudi Arabia Embassy in Malaysia on Thursday.
Muhyiddin concluded his four-day visit to Saudi from 6-9 March on the invitation of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud. The visit is seen as a great success with the signing of three agreements, first the establishment of the Saudi-Malaysian Coordination Council, the second relating to the arrival of pilgrims, and the third a memorandum of understanding relating to Islamic affairs. During the visit the Saudi government also granted Malaysia’s request for additional 10,000 haj quota. -Bernama
More to come
