Malaysia's AIM2024 Investment Mission targets Middle East collaboration

From 7th to 13th September 2024, a Malaysian delegation, led by Tengku Sulaiman Shah Al-Haj, Tengku Laksamana of Selangor, participated in the ALAA Investment Mission to the Middle East (AIM2024).

Organised by ALAA Consultancy (M) Sdn Bhd, this initiative aimed to enhance economic collaboration and attract investment opportunities from Kuwait, the United Arab Emirates (UAE), and Qatar.

The mission focused on key industries such as oil and gas, marine operations, construction, infrastructure, pharmaceuticals, renewable energy, and telecommunications.

Malaysia’s delegation was spearheaded by Datuk Seri Dr Syed Hussein Al Habshee, a former Malaysian Ambassador to the UAE as well as Tan Sri Dr. Madinah Mohamad, Chairman of ALAA Consultancy Sdn Bhd.

Senior executives from nine Malaysian companies also joined the mission, seeking to explore potential investments in these rapidly developing Middle Eastern economies.

The delegation sought to foster collaboration in various sectors.

Kuwait, UAE, and Qatar are strategically important to Malaysia’s broader investment goals, with renewable energy, battery technology, and tire recycling emerging as key areas of interest.

Malaysia’s property sector also featured in the discussions, with significant projects like the Hard Rock Hotel in Genting Highlands and the Langkasuka project in Langkawi attracting attention from potential Middle Eastern investors.

Throughout the mission, Memorandums of Understanding (MOUs) and Nondisclosure Agreements (NDAs) were signed, formalising the intent to collaborate on future investment ventures.

The mission received support from the Malaysian embassies in Kuwait, UAE, and Qatar, as well as the respective embassies of these countries in Malaysia.

The Malaysian Investment Development Authority (MIDA) and MATRADE Qatar also played key roles in facilitating the mission's engagements.

The AIM2024 mission set an ambitious target of securing USD 1.7 billion in potential deals from each country, which could significantly contribute to Malaysia’s economic growth in sectors like renewable energy, technology, food security, telecommunications, and infrastructure.