Malaysia and Saudi Arabia are strengthening their financial partnership throughout building, infrastructure, services administration, power and the halal economic system, as Saudi Imaginative and prescient 2030 creates new alternatives for Malaysian firms within the Kingdom.
Marking Malaysia’s Nationwide Day, Tengku Datuk Mohd Dzaraif Raja Abdul Kadir, Consul Normal of Malaysia in Jeddah, highlighted the longstanding relationship between the 2 international locations and the sturdy people-to-people ties underpinning it.
“Malaysia and Saudi Arabia share a longstanding friendship constructed on mutual respect, belief, shared values and robust people-to-people connections. As we have fun Malaysia’s Nationwide Day, we deeply admire the heat and hospitality prolonged to Malaysians within the Kingdom, and the enduring bonds between our two peoples, significantly by means of Hajj and Umrah,” he mentioned.
Financial relations have continued to broaden alongside these historic ties. As Saudi Arabia accelerates towards the targets of Imaginative and prescient 2030 and prepares to host main worldwide occasions, together with Expo 2030 Riyadh and the FIFA World Cup 2034, each international locations are looking for to deepen authorities and private-sector cooperation.
Authorities-to-government engagement is being superior by means of the Saudi-Malaysian Coordination Council below its Commerce and Funding Pillar, whereas enterprise cooperation is supported by the Saudi-Malaysian Enterprise Council and Malaysian-Saudi Enterprise Council.
Malaysia’s exports to Saudi Arabia rose 8.3% in 2024 to $1.62 billion, in contrast with $1.5 billion in 2023, supported partly by the provision of Malaysian Industrialised Constructing System (IBS) options for a NEOM facility.
MGB Berhad, a Bursa Malaysia-listed building and property improvement group, is among the many Malaysian firms increasing within the Kingdom. Its capabilities span constructing building, industrialised constructing techniques, precast concrete manufacturing, property improvement and engineering options.
By MGB Worldwide, the group has established native precast manufacturing capabilities in Saudi Arabia and expanded from supplying IBS and precast elements into set up, building and important contracting works.
MGB is taking part in Saudi Arabia’s rising housing and infrastructure sector, together with tasks involving main nationwide builders akin to ROSHN, whereas exploring alternatives in property improvement and different sectors aligned with Imaginative and prescient 2030.
From Nov. 2 to five, 20 Malaysian firms specialising in constructing supplies and building companies will take part within the Malaysia Pavilion at Saudi Construct 2026 on the Riyadh Worldwide Conference and Exhibition Middle. Firms fascinated with potential collaborations can contact MATRADE Jeddah at [email protected].
Malaysian experience can be increasing in services administration. MEEM Facility Administration (MEEM FM), a subsidiary of Malaysia’s UEM Edgenta working in strategic partnership with Mohammed I. Alsubeaei & Sons Funding Firm (MASIC), is positioning itself as a technology-enabled services administration firm in Saudi Arabia.
Starting with industrial belongings, MEEM FM has expanded into training and is extending its capabilities into healthcare. Leveraging UEM Edgenta’s worldwide experience, significantly in healthcare asset and services administration, the corporate goals to convey expertise and international greatest practices to the Kingdom whereas supporting a extra environment friendly and sustainable FM sector.
“Relationships and belief are the foundations of doing enterprise in Saudi Arabia. Lasting partnerships are constructed by creating worth, sharing data and investing in native expertise,” mentioned Rais Imran, Managing Director of UEM Edgenta Regional Headquarters – Center East and CEO of MEEM Facility Administration.
Power represents one other longstanding space of cooperation. Greater than twenty years in the past, Malaysian utility firm Tenaga Nasional Berhad (TNB) signed an settlement with ACWA Energy to take part in Saudi Arabia’s impartial water and energy sector.
Because the Kingdom expands its renewable power and desalination capability, TNB is exploring additional alternatives. Following a working go to to Riyadh in July, the corporate expressed curiosity in potential collaborations on new energy tasks.
“The large improvement of the Saudi energy sector, particularly renewable power, is astonishing, with nice potential for additional development on a much bigger scale,” mentioned Abdul Latif Abdul Razak, Head of Enterprise Growth (Worldwide) at TNB Genco.
In line with the newest statistics from Saudi Arabia’s Normal Authority for Statistics, Malaysia’s international direct funding inventory within the Kingdom stood at SR2.86 billion ($760 million) on the finish of 2024.
Malaysian investments span utilities, constructing supplies, journey companies, central kitchens and meals service retailers. Malaysia ranked because the Kingdom’s Forty first-largest investor, with funding rising 21.2% since 2021.
Saudi Arabia’s funding inventory in Malaysia, in the meantime, stood at SR176 million ($46.9 million) on the finish of 2024.
The funding relationship may broaden significantly following ACWA Energy’s announcement that it’s exploring clean-energy tasks value as much as $10 billion (SR37.5 billion) in Malaysia, concentrating on 12.5 gigawatts of energy technology capability by 2040.
The halal economic system can be rising as a big space for cooperation. Expo 2030 Riyadh and the FIFA World Cup 2034 are anticipated to generate better demand throughout Saudi Arabia’s tourism, hospitality and provide chains because the Kingdom prepares to welcome hundreds of thousands of worldwide guests.
This development is predicted to create alternatives throughout halal meals and drinks, cosmetics and hospitality facilities, and prescription drugs.
The Public Funding Fund established the Halal Merchandise Growth Firm (HPDC) to put money into the sector, localize the halal trade and strengthen Saudi Arabia’s place within the international halal market.
Malaysia, with its established halal ecosystem, sees alternatives to contribute experience, funding and enterprise partnerships to the Kingdom’s increasing market.
Saudi trade leaders, traders and stakeholders are invited to take part within the twenty second Malaysia Worldwide Halal Showcase (MIHAS 2026), to be held from Sept. 23 to 26 on the Malaysia Worldwide Commerce and Exhibition Centre (MITEC).
MIHAS brings collectively companies from sectors together with Islamic finance, prescription drugs, cosmetics and private care, modest style, and meals and drinks, offering alternatives for sourcing, analysis and improvement, expertise partnerships and the change of trade greatest practices.
Saudi firms and traders fascinated with MIHAS 2026 can contact MATRADE Jeddah for additional data.
Malaysian culinary diplomacy can be more and more reaching Saudi and expatriate shoppers, including one other dimension to a bilateral relationship that continues to broaden from longstanding cultural and people-to-people ties into funding, expertise and industrial partnerships.
Mohd Dzaraif Raja Abdul Kadir, Consul Normal of Malaysia in Jeddah.
