Malaysia has secured potential investments amounting to RM8.13 billion following a series of strategic economic engagements in Italy, Prime Minister Datuk Seri Anwar Ibrahim announced at the conclusion of his official visit to Rome.
The investment prospects stemmed from the Malaysia-Italy Economic Cooperation Roundtable and targeted meetings with Italian corporations. The roundtable saw participation from 41 Italian entities, comprising 23 manufacturing companies, nine service providers, two trading firms, five government agencies and two industry organisations.
According to the Prime Minister, the projected investments span key sectors including petrochemicals, machinery and equipment, electrical and electronics, as well as oil and gas services and equipment.
In addition to investment commitments, the meetings yielded export potential estimated at RM425 million, particularly in oleochemical products, renewable energy, biofuel feedstocks, animal feed additives and food-related products.
The roundtable enabled Italian firms to express keen interest in partnering with Malaysian companies, particularly in high-technology manufacturing, renewable energy, the digital economy and sustainable infrastructure.
During bilateral talks with his Italian counterpart, Prime Minister Giorgia Meloni, both leaders reaffirmed their commitment to deepening cooperation in the energy sector, notably in solar, geothermal and hydrogen technologies.
Significant collaborations were highlighted, including a joint venture between Petronas and Eni SpA in Johor’s Pengerang region to develop sustainable aviation fuel (SAF); strategic cooperation between Perodua and Magna Steyr on electric vehicle battery systems; and Italian interest in supporting the modernisation of Malaysia’s electricity grid infrastructure, including the ASEAN Power Grid (APG) initiative.
Anwar also raised the issue of environmental standards during the discussion, formally requesting Italy’s recognition of the Malaysian Sustainable Palm Oil (MSPO) certification and appealing for a more balanced evaluation of the European Union Deforestation-Free Products Regulation (EUDR). Malaysia seeks to be classified under the EU’s low-risk category when the benchmark is revised in 2026.
Furthermore, Malaysia has requested Italy’s support in accelerating the conclusion of the Malaysia-European Union Free Trade Agreement (FTA), currently under negotiation.
Anwar’s three-day visit to Italy, undertaken at the invitation of Prime Minister Meloni, underscores Malaysia’s continued commitment to strengthening trade and investment ties with key EU economies. He 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. Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir also joined the delegation.
In 2024, total trade between Malaysia and Italy rose by 2% year-on-year to US$3.18 billion (RM14.61 billion). For the January–May 2025 period, bilateral trade continued its upward trajectory, increasing by 3.3% to US$1.48 billion (RM6.5 billion) compared to the corresponding period last year.
The Prime Minister has since departed for France for an official visit on 3 and 4 July.
-Bernama
