Malaysia Attracts 97 Swedish Manufacturing Projects Worth RM7.77 Billion

Malaysia has attracted 97 Swedish manufacturing projects worth RM7.77 billion by 2024, creating nearly 6,000 jobs. Bilateral trade reached RM3.58 billion last year. Minister Tengku Zafrul highlighted the presence of prominent Swedish companies and expressed hope for continued economic growth between the nations.

Malaysia has become a significant hub for Swedish investments, having attracted 97 manufacturing projects valued at RM7.77 billion scheduled for completion by 2024. This surge in investment has generated 5,982 job opportunities within the country, as announced by the Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Last year, bilateral trade between Malaysia and Sweden reached RM3.58 billion, which indicates the strengthening economic ties between the two nations. This statement was publicly shared by Minister Tengku Zafrul on the platform X, coinciding with the welcome of the new Swedish ambassador to Malaysia, Niklas Wiberg.

The minister highlighted that several well-known Swedish corporations, such as Spotify, H&M, Ericsson, Volvo, and IKEA, are already successfully operating within Malaysia. Tengku Zafrul expressed optimism for the continued deepening of economic relations between Malaysia and Sweden, which he believes will yield mutual benefits for both parties.

Malaysia’s emergence as a prime destination for Swedish manufacturing investments is marked by significant monetary inflows and job creation. The positive trends in bilateral trade and the presence of major Swedish enterprises signal robust potential for future economic collaboration between Malaysia and Sweden.

Original Source: www.bernama.com