Latest news with #foreignDirectInvestment
Malay Mail
7 days ago
- Business
- Malay Mail
Asean Summit set to unlock RM300b in FDI, boosting Malaysia's economy, says Juwai IQI
KUALA LUMPUR, May 22 — The Asean Summit will be a platform to integrate regional economies and promote trade through potential agreements with an estimated RM300 billion in foreign direct investment (FDI) in the next five years, according to Juwai IQI. Its co-founder and group chief executive officer Kashif Ansari said in a statement today that it is important for Asean member countries to work together as the region faces a complicated world, with global strategic rivalries, new technologies, and artificial intelligence (AI) disruptions. 'The summit could boost Malaysia's economy through regional integration, Asean unity in global trade, and foreign direct investment. Changes in these three areas could mean hundreds of billions of ringgit in additional trade and capital over the coming years. 'The Johor-Singapore Special Economic Zone (JS-SEZ) is a prime example of integration, which could contribute as much as RM110.9 billion to Malaysia's economy annually by 2030,' he said. Kashif said a tighter-knit Asean could boost Malaysia's total trade volume significantly, to about RM3.87 trillion by 2027; exports could reach an all-time high of RM2.13 trillion in annual export volume by 2030. 'While the agreements coming out of the summit could have us shipping more goods out by 2030, we will also be receiving more inbound FDI, with that money going into local innovation, infrastructure, employment, and property,' he noted. In the property sector, based on IQI's analysis, FDI inflows during this period will generate at least RM15 billion in new real estate activities, which include industrial parks, commercial centres, logistics hubs, and housing developments, said Kashif 'With RM300 billion of FDI projected by 2030, we estimate RM15 billion, or five per cent, will be channelled into the real estate industry. 'We have estimated this five per cent ratio between FDI and real estate based on typical patterns seen across the region. The real number could be lower, or much higher,' he said. According to Kashif, global brands have built data centres, electric vehicle facilities, and logistics hubs over the past few years. These developments create high-quality property demand in the industrial sector and have a spillover effect on housing, office, and retail. 'This Asean Summit is a platform for improving Malaysia's future. If regional leaders can agree to deepen intra-Asean trade, harmonise regulations, and reduce trade barriers, Malaysia and all our partner nations will benefit,' he added. The Asean Summit will be held at the Kuala Lumpur Convention Centre on May 26 and 27, alongside the second Asean-Gulf Cooperation Council (GCC) Summit and the inaugural Asean-GCC-China Summit. This is the fifth Asean chair for Malaysia. Its previous terms were in 1977, 1997, 2005 and 2015. — Bernama
The National
7 days ago
- Business
- The National
UAE's defence sector expected to attract more FDI amid localisation push
The UAE's defence sector is expected to attract more foreign direct investment in the coming years amid government initiatives on domestic production and sustained economic growth, a senior official from the Tawazun Council said. Companies 'find the UAE an attractive place to set up their business due to the stability, economic growth, location and G to G [government to government] relations that it enjoys with other countries', Matar Al Romaithi, sector chief of defence and industrial affairs at Tawazun Council, told The National in an interview. The council based in Abu Dhabi is the country's defence and security acquisitions authority, and also supports the growth of the defence sector though new projects and policies. Last month, it launched its strategic plan 2025-2028 to strengthen the UAE's defence network, with a significant focus on industrial localisation and development of new industrial zones. 'We are working on attracting international players to enable the industry. So it's not just what the UAE buys, it's more of what the UAE can offer to international players,' Mr Al Romaithi said. 'We have multiple parks that will be established in the coming five years to attract FDI and a supply chain that supports the UAE and the region. We have more of a global and forward-looking strategy and make sure that whatever is produced in the UAE is of high international standard that is exportable.' There are more than 400 defence companies in the UAE producing small components to big entities for munitions for military vehicles. Abu Dhabi-based Edge is a defence conglomerate with more than 35 entities under its umbrella, including small arms manufacturer Caracal, military vehicles producer Nimr, and Halcon, which produces missiles. International companies have also set up operations in the country. RTX, formerly Raytheon Technologies, from the US, as well as Swedish company Saab and France's Thales, are manufacturing defence products for the UAE market and to export globally. "We started with a concept called 'landed company', which is a fully owned subsidiary for international companies in the UAE," Mr Al Romaithi said. "They are expanding by building certain products locally and also targeting international markets." Last week, RTX announced the opening of a new advanced industrial unit at Tawazun Industrial Park in Abu Dhabi for the production of Coyote counter drone interceptors as part of UAE plans to localise advanced defence manufacturing. "Raytheon will be producing US technology," Mr Al Romaithi said. "The commitment they have is to reach 40 per cent of localisation through our local suppliers." He did not reveal the total investment in the project. Coyote provides security and protection for personnel, critical infrastructure and military assets from hostile drones. Tawazun also signed an initial agreement with RTX and Emirates Global Aluminium to explore setting up a gallium production unit in Abu Dhabi. Gallium, a critical mineral, has applications across many different sectors, including in the production of semiconductors, electric vehicles, medical devices and telecom infrastructure. "It will be the second largest after China and it's going to supply gallium to the local market as well as to international markets," the senior executive said. The industrial base that exists today will "enable more partnerships" to support the defence sector, Mr Al Romaithi added. The UAE has been focusing on industrial growth as it diversifies its economy from oil. The Emirates launched its industrial strategy, Operation 300bn, in 2021 to position itself as an industrial centre by 2031. The 10-year strategy focuses on increasing the industrial sector's contribution to gross domestic product to Dh300 billion by 2031, from Dh133 billion in 2021.
Bloomberg
19-05-2025
- Business
- Bloomberg
Namibia Sees Uranium, Oil Driving Rebound in Foreign Investment
Namibia expects foreign direct investment to rebound this year after a 25% decline in 2024, as idled uranium operations restart and global companies ramp up oil exploration and green hydrogen projects. The southern African nation is positioning itself to attract renewed capital in these key sectors, Francois van Schalkwyk, an executive at the Namibia Investment Promotion and Development Board, said in emailed responses to questions.
Daily Mail
14-05-2025
- Business
- Daily Mail
UK beats Europe in battle for investment for fifth year in a row - dispelling concerns over Brexit
The UK has attracted more new foreign direct investment than any other European country for the fifth year in a row – dispelling fears over the impact of Brexit. Figures from accountants EY showed Britain attracted 535 new projects in 2024. However, that was down by 27 per cent when compared with 2023. Germany and France also had sharp falls, of 19 per cent and 12 per cent, as 'an element of investor hesitancy' took hold, according to EY chief economist Peter Arnold. Arnold said it 'can be partially attributed to higher energy and labour costs in many European countries, as well as a degree of political uncertainty from the UK, France and Germany all holding major elections in 2024'. But the UK performance suggests leaving the EU has not been the disaster that some predicted. Julian Jessop, economics fellow at the Institute of Economic Affairs, a free-market think-tank, said: 'Some investment was held back by uncertainty initially created by the vote to leave. 'But this survey adds to evidence that headwind has faded and Brexit Britain is still a relatively attractive place to build a business. 'That appeal can only grow as the UK lowers trade barriers.' EY figures showed that when it comes to overall foreign direct investment – additions or extensions to existing projects – Britain's 853 projects trailed France's 1,025 last year. By region, greater London was the biggest in Europe, with 265 projects.
Times of Oman
13-05-2025
- Business
- Times of Oman
OCCI delegation participates in SelectUSA Investment Summit
Washington: As part of its current visit to the United States of America (USA), a trade delegation from Oman Chamber of Commerce and Industry (OCCI) took part in the SelectUSA Investment Summit, one of the most prominent global platforms for encouraging foreign direct investment (FDI) in the US market. The participation of the OCCI in the event reflects the chamber's keenness to expand the base of economic diversification, consolidate international trade relations and open new markets for Omani companies. This approach fits with the objectives of Oman Vision 2040, which aims to support economic diversification and enhance the Sultanate of Oman's attractiveness as a regional and global investment hub.
