Malaysia Succeeds In Attracting RM8.13 Bln Potential Investments From Italy - PM Anwar

From D.Arul Rajoo

ROME, July 3 (Bernama) -- Potential investments worth RM8.13 billion have been achieved through the Malaysia-Italy economic cooperation roundtable meeting and meetings with companies here, said Prime Minister Datuk Seri Anwar Ibrahim.

The roundtable meeting involved the participation of 41 Italian companies and agencies, comprising 23 companies from the manufacturing sector, nine companies from the service sector, two companies from the trade sector as well as five government agencies and two industrial organisations.

“The potential investments achieved through these two meetings are worth RM8.13 billion in the petrochemical, machinery and equipment, electrical and electronics, and oil and gas services and equipment sectors,” he said at a press conference at the end of his visit to Rome, Italy.

Anwar, who is also the Finance Minister, said the potential exports generated were worth RM425 million for oleochemical products, renewable energy, biofuel feedstocks, animal feed additives and food.

The roundtable meeting allowed potential companies in Italy an opportunity to express their desire to collaborate with Malaysian companies in various sectors such as high-tech manufacturing, renewable energy, digital economy and sustainable infrastructure.

Meanwhile, Anwar said that in a bilateral meeting with his counterpart Giorgia Meloni, Rome and Putrajaya would increase cooperation in the energy, solar, geothermal and hydrogen sectors.

Among the collaborations are the Petronas and Eni SpA joint venture in Pengerang, Johor in the sustainable aviation fuel (SAF) sector; Perodua and Magna Styer for electric vehicle batteries; and collaboration and investment in the modernisation of the electricity grid, including the ASEAN Power Grid (APG).

In the discussion, the Prime Minister said he also applied for recognition of the Malaysian Sustainable Palm Oil (MSPO) certification from Italy, in addition to requesting support for a fairer assessment of the European Union Deforestation-Free Products Regulation (EUDR) Implementation.

Malaysia aims to be in the low-risk category in the EUDR benchmark system when the rating is reviewed by 2026.

Meanwhile, Malaysia has also sought Italy's support in concluding negotiations on the Malaysia-European Union Free Trade Agreement (FTA).

The Prime Minister arrived here on Tuesday for a three-day working visit to Italy, the third largest economy in the EU.

The visit was at the invitation of Meloni.

Throughout the visit, Anwar was accompanied by Foreign Minister Datuk Seri Mohamad Hasan, Transport Minister Anthony Loke, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu, Defence Minister Datuk Seri Mohamed Khaled Nordin and Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Also joining the delegation was Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir.

In 2024, total trade between Malaysia and Italy recorded an increase of two per cent to US$3.18 billion (RM14.61 billion) compared to the same period in 2023.

For the period from January to May 2025, total trade between the two countries continued to show positive performance with an increase of 3.3 per cent to US$1.48 billion (RM6.5 billion) compared to the same period in 2024.

The Prime Minister departed for France for an official visit on July 3 and 4 after concluding his visit to Italy.

-- BERNAMA