Malaysia Welcomes 97 Swedish Manufacturing Projects Worth RM7.77 Billion by 2024

Malaysia has attracted 97 Swedish manufacturing projects valued at RM7.77 billion by 2024, creating 5,982 jobs. Minister Tengku Zafrul Abdul Aziz reports strong bilateral trade of RM3.58 billion and highlights the presence of major Swedish companies such as Spotify and IKEA. There is optimism for continued deepening of economic relations between Malaysia and Sweden.

Malaysia has established itself as a notable hub for Swedish investments, successfully attracting 97 manufacturing projects valued at RM7.77 billion as projected for 2024. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz confirmed that these ventures have led to the creation of approximately 5,982 employment opportunities.

In a recent post on X, Minister Zafrul highlighted the strong economic collaboration between Malaysia and Sweden, evidenced by a bilateral trade total of RM3.58 billion last year. He welcomed the newly appointed Swedish ambassador to Malaysia, Niklas Wiberg, indicating a promising future for diplomatic and economic relations.

Minister Zafrul also pointed out that numerous well-established Swedish companies, such as Spotify, H&M, Ericsson, Volvo, and IKEA, are already operating in Malaysia. He expressed optimism that the economic ties between the two nations will continue to strengthen, fostering mutual benefits.

In conclusion, Malaysia’s attraction of substantial Swedish investments underscores the growth of economic collaboration between the two nations. With significant funding, job creation, and the presence of major Swedish firms, the future looks bright for bilateral relations, promising continued economic opportunities and mutual growth.

Original Source: www.bernama.com