Riyadh – Mubasher: Saudi Arabia’s Minister of Investment, Khalid al-Falih, said his country is one of the biggest trading partners to Malaysia in the Middle East region and one of the largest 20 countries investing there, Saudi Press Agency (SPA) reported on Tuesday.
The minister's announcement came on the sidelines of the visit of Malaysia’s Prime Minister, Muhyiddin Yassin, to Saudi Arabia.
Saudi al-Falih said that, despite the difficult circumstances brought by the coronavirus pandemic that affected people’s lives and the global economy, the kingdom and Malaysia continued to see big developments in all fields.
The kingdom’s most important investments in Malaysia are two huge under-construction joint projects in Johor state; one in the oil refining industry and the other in the petrochemical manufacturing field. They are an equally-owned partnership between Saudi Aramco and PETRONAS valued at SAR 64 billion.
The kingdom has 44 projects in Malaysia worth more than SAR 1.38 billion, distributed in the fields of biotechnology, chemical products, retail, medical equipment, food industries, among others.
Malaysia invests in 38 projects in the kingdom valued at over SAR 1.95 billion in different fields such as building and construction, manufacturing industries, finance and insurance, and retail.
