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DAVOS – Ericsson Group and Microsoft are among the multinational companies that International Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz had bilateral meetings with at this year’s World Economic Forum (WEF).
Ericsson was represented by its president and chief executive officer Borje Ekholm while Microsoft by its executive vice president Jean-Philippe Courtois during the meetings which discussed potential investment and expansion.
The minister also had meetings with the Japan External Trade Organisation chairman and chief executive officer Nobuhiko Sasaki and Dow Jones & Company chief executive officer Almar Latour.
“It has been great so far. The 2023 WEF has about 2,700 leaders, including 52 heads, from 130 countries. I am looking forward to more bilateral meetings, especially with my counterparts,” Tengku Zafrul said when asked about the string of engagements and bilateral meetings he had since arriving here on Monday.
He said the bilateral meetings thus far involve conversations on opportunities in Malaysia.
“Some of the companies we met have been investing in Malaysia for a while but they want to ensure that their investments are protected. We also spoke about the potential for expanding their operations and increasing their investments in Malaysia,” he said on Tuesday.
Tengku Zafrul disclosed that the conversations also touched on what Malaysia could offer these multinationals.
“So, with the new government, we are looking at stability and we also spoke about Malaysia’s prospects,” he said.
Besides that, these multinationals can assist local companies planning to expand their activities abroad, the minister added.
On the inaugural presence of “Malaysia House” at the WEF, he said it is a good approach for the nation’s presence to be felt.
“Other countries have taken this approach many years ago. We need our presence to be felt – stronger than before,” he said.
Tengku Zafrul is leading the Malaysian delegation to WEF 2023.
Among the scheduled sessions in which the minister will participate is on the cost of economic fragmentation, supply chain and transport, and a session titled Living with Risk where Tengku Zafrul will be one of the three panelists.
Tengku Zafrul will also participate in a two-panel Global Trade: Navigating The Post-Pandemic Supply Chain Challenge session with Sultan Ahmed Bin Sulayem, group chairman and chief executive officer of Dubai-based DP World.
The session will focus on whether macroeconomic forces – such as inflation, geopolitical tensions, spikes in commodity prices, supply chain disruptions and capacity constraints – will continue into 2023 and how companies can create more resilient supply chains. – Bernama, January 18, 2023