Malaysia invites UAE to take part in development
ABU DHABI: Malaysia has invited the United Arab Emirates (UAE) to take part in various investment opportunities, particularly in the development of Bandar Malaysia and agriculture, says the Prime Minister.
Datuk Seri Ismail Sabri Yaakob said the cabinet had recently agreed to revisit the Bandar Malaysia project.
The Prime Minister raised this during his audience with UAE president Sheikh Mohammed bin Zayed Al-nahyan.
“I have invited the UAE to be involved in the development of Bandar Malaysia.
“We are in the process of restructuring the development model which will be different from the previous one.
“We want more to be involved in Bandar Malaysia,” he told the Malaysian media yesterday.
The Prime Minister, who arrived on Monday, is in the UAE for a four-day working visit.
“Once we have firmed up the plan, I will officially invite the UAE to participate in the development of Bandar Malaysia,” he added.
Located at the site of the Royal Malaysian Air Force base in Jalan Sungai Besi, Bandar Malaysia will be a mixed-use, transit-oriented development with a gross development value of Rm140bil.
With a land area of 194.5 ha, it is the single largest piece of development land in the heart of Kuala Lumpur.
The project, which was first introduced in 2015, was once shelved by the government back in 2017 after it was abruptly terminated.
The Bandar Malaysia project was reinstated by the Pakatan Harapan government following a cabinet meeting in April 2019, after it was decided that the development would have a positive impact on the economy and would help attract foreign investments into the country.
On food security, Ismail Sabri said Malaysia has also offered UAE to carry out reverse investment and to invest in agriculture in Malaysia, pointing out that Malaysia has vast tracts of land which were suitable for agriculture.
“I am made to understand that the UAE aims to become a hub for agricultural exports to Africa and this offer augurs well with their plans.
“The president has accepted our proposal positively. We have agreed that a joint working committee be set up fast to look into the matter,” he added.
The Prime Minister said that Malaysia and UAE have also agreed to explore more trade opportunities and cooperation between the two countries, including between PETRONAS and the Abu Dhabi National Oil Company (Adnoc).
“I have requested for the UAE president to assist us in realising the cooperation between PETRONAS and Adnoc,” he said without specifying any areas of cooperation.
Adnoc is the state-owned oil company of the UAE and is the world’s 12th largest oil company by production.
Malaysia’s total trade with the UAE had increased 90.4% or Us$6.14bil (Rm25.60bil) for the first eight months of this year.
The figure surpasses the total value recorded for 2021 which was Us$5.38bil (Rm22.2bil)
He said Sheikh Mohammed has also invited more Malaysians to seek job opportunities in the UAE, adding that there are currently about 6,000 Malaysians employed here.
“I was made to understand that the President is comfortable with Malaysians who are working here, as they possess a high level of discipline and do not pose any problems.
“The President is happy if more Malaysians come here to work and I thanked Sheikh Mohammed for inviting Malaysians to explore employment opportunities in the UAE,” he added.