Malaysia Attracts RM7.77 Billion Swedish Manufacturing Investments by 2024

As of 2024, Malaysia has attracted 97 Swedish manufacturing projects valued at RM7.77 billion, creating nearly 6,000 jobs. Bilateral trade reached RM3.58 billion, and notable companies like Spotify and IKEA operate in the country. The engagement promises mutual economic benefits going forward.

Malaysia has established itself as a significant hub for Swedish investment, having attracted 97 manufacturing projects collectively valued at RM7.77 billion by 2024. According to Tengku Datuk Seri Zafrul Abdul Aziz, the Minister of Investment, Trade and Industry, these projects have generated a total of 5,982 employment opportunities.

Bilateral trade between Malaysia and Sweden reached RM3.58 billion last year, indicating strong economic connections between the two nations. Minister Zafrul emphasized this point in a recent post on X, while also welcoming Niklas Wiberg, the newly appointed Swedish ambassador to Malaysia.

Additionally, Minister Zafrul remarked on the presence of several prominent Swedish corporations in Malaysia, including Spotify, H&M, Ericsson, Volvo, and IKEA. He expressed optimism that the economic relations between Malaysia and Sweden would continue to flourish, offering mutual advantages for both countries.

In conclusion, Malaysia is witnessing a substantial influx of Swedish investments in manufacturing, projected at RM7.77 billion by 2024. This investment has also facilitated the creation of thousands of jobs, showcasing a strong partnership between Malaysia and Sweden. The robust bilateral trade and presence of major Swedish companies further underscore the potential for continued economic cooperation.

Original Source: www.bernama.com