Additionally, the mission also identified RM500 million in potential exports for Malaysian products and services.
In a statement, it said minister Tengku Zafrul Aziz, who led the mission, met with renowned Italian companies in the automotive, aerospace, semiconductors, food, biofuel, as well as machinery and equipment sectors and achieved significant milestones in fostering economic ties, as well as attracting potential investments and trade.
It said the notable companies include STMicroelectronics, EDA Industries as well as Leonardo’s Helicopter and Aircraft Divisions.
During the closed-door one-to-one meetings, Miti said these companies highlighted their investment plans in Malaysia and showcased their commitment to explore new areas of growth for knowledge transfer and the creation of high-value jobs in the country.
“The mission also featured visits to both Leonardo Helicopter and Aircraft Divisions’ facilities in Milan and Turin, respectively.
“The global player in the aerospace industry expressed its keen interest to explore new ventures in Malaysia to support its future regional operations,” said the ministry.
Miti said, in terms of export potential, Tengku Zafrul also met with Fererro International S.A, a leading food company in the production of chocolate and cocoa-based foods; and ENI Trade and Biofuels S.p.A, a subsidiary of ENI S.p.A which is one of the largest petroleum and gas companies in Italy.
Meanwhile, Tengku Zafrul said the partnerships forged will also contribute significantly to Malaysia’s journey towards becoming a regional hub for advanced technologies and innovation.
“The outcomes of the mission reflect our commitment to enhancing Malaysia’s position in the global supply chain.
“Miti and its agencies, Malaysian Investment Development Authority (Mida) and Malaysia External Trade Development Corporation (Matrade) will ensure the successful realisation of these potential investments and exports, which are key towards fostering sustainable economic growth in Malaysia, as envisaged by the New Industrial Master Plan (NIMP) 2030,” he said.