ABU DHABI: Prime Minister Datuk Seri Anwar Ibrahim's short 36-hour working visit to the United Arab Emirates (UAE) on Thursday was enough for Malaysia to reap great benefits, especially in terms of investment from the gulf country.
The prime minister's packed schedule started on Thursday with a meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan who is also the Ruler of Abu Dhabi, as well as with several senior ministers in charge of economic affairs, trade and investment; the stakeholders of UAE's sovereign wealth fund; Abu Dhabi Investment Authority (ADIA) and; major companies.
The 36-hour visit has secured investment commitments amounting to RM40.6 billion ($8.6 billion) in sectors such as renewable energy, aerospace and logistics.
Among them was the signing of a memorandum of understanding (MoU) between the Malaysian Investment Development Authority (MIDA) and Abu Dhabi Future Energy Company PJSC-Masdar for renewable energy projects in Malaysia with a capacity of up to 10 gigawatts worth $8 billion.
Other investment commitments include $450 million in the logistics sector and $150 million in the aerospace sector.
During the meetings, Anwar gave assurances that Malaysia is committed to advancing renewable energy as well as improving the ease of doing business in the country.
"When you come to Malaysia, you can see it for yourself, see the changes from what you observed five, three or even two years ago.
"I want to prove a point; now things are much better and it is easy to do business due to clear determination and effective leadership as we want to make sure things function effectively," he said during a roundtable meeting with captains of industry in the UAE.
He said the government would identify several suitable locations for foreign investors interested in the renewable energy sector.
This, following Malaysia becoming an attraction for foreign investors looking to invest in the sector, he added.
The UAE media described the good ties between the UAE and Malaysia being due to the close personal relationship between the Yang di-Pertuan Agong, Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah and Sheikh Mohamed, who have cultivated a profound bond since their military training days at the prestigious Royal Military Academy Sandhurst (RMAS) in the United Kingdom during the late 1970s.
"His Majesty also played a major role in strengthening relations with the UAE, for his good and close relationship with Sheikh Mohamed," said the prime minister at the end of his visit.
Anwar also visited Masdar City, known as the world's first planned sustainable city.
He said Masdar City is developed in a sophisticated, modern way and meets green requirements and also has the world-class Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), the first university specialising in AI.
With the success of his visit, Anwar said it is now up to the government's leadership and the relevant ministries and agencies to turn it into a reality that would benefit the country and its people.