Malaysia’s total trade with Italy in the first four months of 2022 has increased by almost 30 percent to about US1.5 Billion compared to the corresponding period in 2021, Minister In The Prime Minister’s Department (economy), Datuk Seri Mustapa Bin Mohammed said.
He said that Malaysia is of course proud to be home to several Italian investments. “For example, as of December last year, a total of 75 manufacturing projects with Italian participation (valued at 363.8 million U.S Dollars) have been implemented across the country. This has created 4320 job opportunities for locals here at home,” he said at the 6th Edition High-Level Dialogue On Asean -Italy
Mustapha said that Malaysian MNCs are also proud investors in the Italian economy. For example, Petronas is in automotive lubricants. It has a specialist fluid plant and R&D Centre in Turin. Going all the way back to 2006, KNM Group took over FBM Hudson Italiana
He said that Malaysia was looking forward to new and expanding investments from Italy, with a particular focus on new potential areas of growth such as machinery, automation, aerospace, green technology, food production, biotechnology, pharmaceuticals and other high technology industries, as well as digital investments.
On Asean, Mustapa said the members implement ASEAN Comprehensive Recovery Framework (ACRF), they will l come out of this crisis stronger.
“The ACRF is key to maximizing the potential of the intra-ASEAN market as a means of economic recovery. An open ASEAN economy unafraid of seizing the opportunities presented by Free Trade Agreements, comprehensive economic partnerships, and FDIs, will lead to a more prosperous and stronger ASEAN community,” Mustapha said
