Latest news with #RM8.13bil
The Star
10 hours ago
- Business
- The Star
Italy set to invest RM8.13bil in Malaysia
ROME: Malaysia has successfully secured potential investments worth RM8.13bil from various sectors in Italy following Datuk Seri Anwar Ibrahim's three-day official visit to Rome. While emphasising the significance of economic cooperation between the two nations, the Prime Minister said Malaysia is an important market for Italy in the South-East Asia region. 'The potential investments secured via the two meetings totalled RM8.13bil. 'It spans across sectors such as petrochemical, machinery and equipment, electrical and electronics, services as well as oil and gas,' Anwar said at his exit press conference before departing for Paris, France. Malaysia has also generated potential exports worth RM425mil in the oleochemicals, renewable energy, biofuel, feedstocks, animal feed additives as well as in the food industries, he added. Anwar said the Malaysian delegation's visit saw the meeting of over 100 captains of industries, business leaders and major companies from both countries. The Prime Minister had also invited his Italian counterpart, Giorgia Meloni, to Malaysia to foster closer ties between the two countries. During the working visit, Anwar also attended a gathering with some 120 Malaysians who are based in Italy. He also met with the Comunita Religiosa Islamica Italiana (Coreis) vice-president Imam Yahya Pallavicini and Islamic Cultural Centre of Italy-Grand Mosque of Rome secretary-general Abdellah Redouane. In 2024, the total trade between Malaysia and Italy saw a 2% year-on-year increase, to RM14.61bil (US$3.4bil). Between January and May 2025, bilateral trade grew by 3.3% year-on-year to RM6.5bil (US$1.5bil). Italy remained Malaysia's fifth-largest trading partner and the third-largest importer of Malaysian palm oil among European Union member states in 2024.
The Star
a day ago
- Business
- The Star
Over RM8bil in investments secured during Anwar's Rome visit
ROME: Malaysia has successfully secured potential investments worth RM8.13bil in various sectors from Italy following Datuk Seri Anwar Ibrahim's three-day official visit to Rome. Emphasising the importance of economic cooperation between the two nations, the Prime Minister said Malaysia is an important market for Italy in the South-East Asia region. "The potential investments secured via the two meetings totalled to RM8.13bil and spans across sectors such as petrochemical, machinery and equipment, electrical and electronics, services as well as oil and gas," Anwar said at his exit press conference on Thursday (July 3) before departing for Paris, France. Malaysia has also generated potential exports worth RM425mil in the oleochemicals, renewable energy, biofuel feedstocks, animal feed additives as well as in the food industries, he said. Anwar said the visit of the Malaysian delegation saw the meeting of over 100 captains of industries, business leaders and major companies from both countries. Anwar also said he invited his Italian counterpart, Giorgia Meloni to visit Malaysia. During the three-day working visit to Italy, Anwar also attended a gathering with 120 Malaysians based in the country. He also met with the Comunita Religiosa Islamica Italiana (Coreis) vice-president Imam Yahya Pallavicini and Islamic Cultural Centre of Italy-Grand Mosque of Rome secretary-general Abdellah Redouane. In 2024, the total trade between Malaysia and Italy saw a 2% year-on-year increase to RM14.61bil (US$3.18bil). Between January and May 2025, bilateral trade grew by 3.3% year-on-year to RM6.5bil (US$1.48bil). Italy remained Malaysia's fifth-largest trading partner and the third-largest importer of Malaysian palm oil among European Union member states in 2024.
