HIGH-IMPACT: EBX Group’s commitment to strategic projects boosts bilateral ties
KUALA LUMPUR: ECONOMIC ties between Malaysia and Brazil are set to soar following the move by Brazilian conglomerate, EBX Group, to commit US$6 billion (RM18.6 billion) for fast-tracked high-impact strategic foreign direct investments (FDI) into Malaysia.
This follows a 30-minute phone conversation between Brazilian President Dilma Rousseff and Prime Minister Datuk Seri Najib Razak, during which they discussed cementing ties between both countries through significant long-term smart partnerships and fast-tracked high-impact strategic investments.
Brazil is the largest national economy in South America with a population of over 192 million.
During the call last night, Rousseff expressed confidence in Najib's leadership and his good handling of the Malaysian economy.
He said Brazil would strongly encourage its companies to invest in strategic high-impact FDI projects in Malaysia, given the country's good growth potential as a result of sound economic policies.
Echoing Rousseff's view, EBX Group chairman Eike Batista paid a courtesy call on Najib in Putrajaya yesterday.
Najib, who is also finance minister, was joined by the Minister in charge of the Economic Planning Unit (EPU), Tan Sri Nor Mohammed Yakcop, and Petronas president and chief executive officer Tan Sri Shamsul Azhar Abbas, said a statement from the Prime Minister's Office.
"Malaysia, under the leadership of Prime Minister Najib Razak and with sound government policies, has maintained good economic growth relative to the current global economic conditions.
"We are impressed with the potential that Malaysia has to offer and wish to announce our commitment of US$6 billion into Malaysia for high-impact strategic FDI investment to be implemented swiftly," Batista said.
The statement said Batista will work with the EPU to swiftly identify and implement these projects.
Brazil is ranked as having one of the world's highest petroleum and natural resources.
Meanwhile, Rousseff invited Malaysia to enter into a corresponding substantial smart partnership with Brazil via EBX Group for a strategic position in the energy and natural resources sector.
This is as part of a long-term energy security programme between both countries, whereby Malaysia, would have a secured supply of energy resources.
In return, Malaysia would be accorded exclusive exploration and production operating rights jointly with the EBX Group in Brazil, which currently has potential petroleum resources of more than 10 billion barrels.
Najib welcomed Rousseff's strategic energy security initiative and confirmed that Malaysia would work swiftly with Brazil on the energy security programme. Bernama