Al Jarwan: UAE one of most important Arab nations investing in Malaysia

ABU DHABI / WAM

Jamal Saif Al Jarwan, Secretary-General of the UAE International Investors Council (UAEIIC), said that the UAE is one of the most important Arab countries investing in Malaysia, as many Emirati companies own stakes in various investment projects in Malaysia.
Al Jarwan told the Emirates News Agency (WAM) that the UAEIIC is keen to explore prospects and opportunities for partnership in promising investment fields for the business community in the two countries’ markets. “On the bilateral level, the UAE in the aviation sector has provided a steady growth in the movement of tourist between the two countries, as national carriers operate about 20 flights to Malaysia per week, and there are many joint agreements such as the agreement of Avoidance of Double Taxation and the agreement to encourage and protect investment.”
Al Jarwan pointed out that the Emirati-Malaysian economic cooperation reflects the depth of their ties in light of the solid foundations on which the UAE bases its relations with the countries of the world, which are based on trust, mutual respect and common interests. “We look forward to more new opportunities for cooperation and sustainable development between the two countries,” he added.
On investment priority sectors between the UAE and Malaysia, Al Jarwan said that Malaysia has retained the first place in the world among 81 countries in the Global Islamic Economy Indicator 2022 for the ninth year in a row, according to the “State of the Global Islamic Economy” report. Moreover, the Malaysian side views the UAE as the most important partner in the Middle East and West Asia region, considering its status as the financial centre of the Middle East and North Africa region.
He added that the UAE attaches great importance to economic and investment cooperation with Malaysia, as it is one of the countries that hold the main economic weight in the Southeast Asian region. Especially in the sectors of innovation, modern technology, applications of the Fourth Industrial Revolution, digital economy, renewable energy, industry and health care.
The Secretary-General of UAEIIC stated that the UAE-Malaysia bilateral relations are witnessing continuous development, supported by the leaderships of the two friendly countries, which is reflected in many positive indicators of cooperation at all levels. “The two countries may share development experiences due to the great achievements of their economies and the development renaissance that is boosted by free and diversified economic openness.”
In addition to the economy, he added, the two countries set a unique example of the values of tolerance and peaceful coexistence, which is one of the important values that the UAE shares with Malaysia.
Al Jarwan noted that Emirati companies investing in Malaysia include Mubadala Energy, First Abu Dhabi Bank (FAB), Easa Saleh Al Gurg Group, Hotpack Global, LuLu Group International and other leading companies that invest in oil and gas, food security, agriculture, halal products, tourism, retail trade and Islamic banking services, in addition to other fields.