Malaysia Emerges as Key Destination for Swedish Investment
Malaysia has emerged as a key destination for Swedish investment, attracting 97 manufacturing projects worth RM7.77 billion as of 2024. According to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, these investments have created 5,982 jobs.
Strong Economic Ties between Malaysia and Sweden
Tengku Zafrul highlighted the strong economic ties between Malaysia and Sweden, citing the bilateral trade between the two countries which reached RM3.58 billion last year. He welcomed the arrival of the new Swedish ambassador to Malaysia, Niklas Wiberg, and expressed hope that economic relations between the two countries will continue to deepen for mutual benefit.
Prominent Swedish Companies Operating in Malaysia
Many prominent Swedish companies are already operating in Malaysia, including music-streaming platform Spotify, fashion retailer H&M, telecoms equipment maker Ericsson, vehicle manufacturer Volvo, and furniture giant IKEA. These companies have contributed to the growth of the Malaysian economy and created job opportunities for the local workforce.
Future Outlook
The minister expressed optimism about the future outlook of the economic ties between Malaysia and Sweden, stating that the country hopes to continue to attract more Swedish investments and strengthen its economic relations with Sweden. With the strong economic ties in place, Malaysia is expected to continue to be a key destination for Swedish investment and a hub for Swedish companies looking to expand their operations in the region.
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Conclusion
Malaysia’s emergence as a key destination for Swedish investment is a testament to the country’s attractive business environment, skilled workforce, and strategic location. With the strong economic ties in place, Malaysia is well-positioned to continue to attract more Swedish investments and strengthen its economic relations with Sweden.
Frequently Asked Questions
Q: What is the total value of Swedish investments in Malaysia as of 2024?
A: RM7.77 billion
Q: How many jobs have been created by Swedish investments in Malaysia?
A: 5,982
Q: Which prominent Swedish companies are operating in Malaysia?
A: Spotify, H&M, Ericsson, Volvo, and IKEA