Johor to receive RM80 billion worth of FDI from China
RM170 billion worth of FDIs from China after PM’s recent visit
This was the recent article which was about 19 MOUs valued at RM170 billion after PM Datuk Seri Anwar Ibrahim’s visit to China. RM170 billion investments with 19 MOUs signed with China As briefly touched on, it is now up to all the relevant ministers to follow up this very closely. All these investments would carry multiplier effects. So, if there’s an investment of RM170 billion, there is a potential multiplier effect to the economy of 4 times and that’s RM680 billion. This is why the ministers must really do their job well.
Article in edgemarkets.com PM Datuk Seri Anwar Ibrahim said, “The world’s largest petrochemical company Rongsheng has agreed to increase its activities in Malaysia with a petrochemical, oil and gas refining facility in Pengerang, with a project value of up to RM80 billion,”
He shared that Rongsheng has made assurances to hire local workers. Rongsheng’s investment commitments form part of the 19 memorandums of understanding (MOUs) which were inked between Malaysian and Chinese companies on the back of Anwar’s official four-day visit to China. Anwar said the agreements carry an aggregate commitment of RM170.07 billion in foreign direct investment (FDI). The article is here in theedgemarkets.com
Oil and gas will remain very strong even if EV has lots of hype these days
I am someone who does NOT believe Eelectric Vehicle (EV) will overtake Internal Combustion Engine (ICE) within the next 10 years. I will leave this here in this article and we can look at this again. In fact even Hybrid may have a longer future if we are talking about the gap in prices becoming smaller between EV, Hybrids and even ICE cars. This is why petrochemical related investments will continue to be a great investment. That’s also why we must continue to get more of these companies to invest into Malaysia too.
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