Malaysia Targets RM5.3 Billion Investment At Expo Dubai

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At Expo 2020 Dubai, Malaysian and international companies are expected to sign three Memorandums of Understanding (MoUs) and three Letters of Intent (LoI) worth a total of RM5.3 billion.

According to Minister Datuk Seri Tuan Ibrahim Tuan Man, “Total of three memorandums of understanding (MoU) and three letters of intent (LOI) with a total potential investment of RM5.3 billion is expected to be signed between Malaysian and UAE companies”.

During the third week of the event, he said, IBN Development Bhd will sign an MoU with Ahjam Sazeh Pte Ltd and Gima Group Inc, which will be worth RM 2 billion and RM 1 billion, respectively. (Oct 18 until Oct 22).

He also says during officiating KASA Week at Expo Dubai on Monday, the MoUs will generate the business value of RM3 billion in the field of green technology development and low-carbon cities in the region. 

The third MoU, worth around RM400 million, will be signed between Malaysian Green Technology & Climate Change Corp (MGTC) and Dubai Electricity & Water Authority.

MGTC will sign LOIs worth RM1 billion and RM500 million with Dimon Developers and City Solar, according to KASA.

Nextgreen Global Bhd and the Fujairah Department of Industry and Economy, Government of Fujairah, will sign the remaining LOI worth RM416 million.

Kasa is hosting a trade and business program themed ‘Green Technology Innovation’ in Week Three of the Expo, from October 18 to 22 2021. 

The Ministry of Science, Technology, and Innovation is in charge of the country’s participation in the expo, which is managed by MGTC.