PETALING JAYA: China has agreed to invest RM170 billion in Malaysia, says Prime Minister Anwar Ibrahim.
The sum marks the highest investment commitment from China to Malaysia, The Vibes reported.
Anwar is currently on a three-day official visit to China, and the RM170 billion commitment was secured after 19 memoranda of understanding (MoUs) were signed between Malaysian and Chinese companies, as well as the round-table meeting with elite Chinese business leaders this morning.
According to Bernama, the one-hour meeting was attended by some 50 investors and captains of industry from various sectors, including high-level technology, digital economy, and agriculture.
“It was unprecedented. Never in recent years have there been so many top-notch captains of industry assembled together,” Anwar said.
“This is a new beginning for Malaysia. I am excited.”
China has been Malaysia’s largest trading partner since 2009, and total trade between the two nations touched RM487.1 billion in 2022.
China was also the top investor in Malaysia last year, contributing 21% of the RM264.6 billion investments the country approved in 2022.
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