To date, the total accumulated investments from Malaysia in the UAE amount to approximately USD 1 billion. Major Malaysian players in the UAE include organizations such as TNB, UEM, Eversendai Corporation, PETRONAS Lubricants, Shing Yang Shopping, and Marrybrown.
Key investments by the UAE in Malaysia include Mubadala Energy, Lulu Hypermarket, along with Medini Development and Landmark Group. A concession agreement between Petronas and ADNOC was signed on 5 December 2020 to develop the Unconventional Onshore Block UC01 in the Dhafra region of Abu Dhabi and is expected to boost energy cooperation between Malaysia and the UAE.
Malaysia and the UAE agreed to launch negotiations for a Comprehensive Economic Partnership Agreement (CEPA). The joint ministerial statement was signed between the two trade Ministers in May 2023 on the occasion of His Highness’s Crown Prince of Abu Dhabi’s Visit to Malaysia.
Both countries continue to work closely under strategic partnership and collaboration in various sectors such as renewable energy, petrochemical and chemical industries, aerospace, electrical and electronics (E&E), pharmaceuticals, digital economy, food security and agriculture, transportation and tourism.
“It is evident that the strong bond between both countries will only continue to grow in the future,” said Mr Shamsuddin. “Business relations, people-to-people relations and investment opportunities will rapidly expand.”
Having just celebrated Malaysia Day on 16th September, the country looks forward to a year of growth, global cooperation and continued friendship with the UAE in the years to come.