Brazil's EBX Group commits US$6b FDI into Malaysia

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 for fast-tracked high impact strategic foreign direct investments (FDI) into Malaysia.

This follows a 30-minute telephone conversation between Brazil's President Dilma Rousseff and Prime Minister Datuk Seri Najib Tun Razak, where 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 between the two leaders last night, Rousseff expressed confidence in Najib’s leadership and his good handling of the Malaysian economy.

He said that Brazil will 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 positive view on Malaysia, EBX Group's Chairman Eike Batista paid a courtesy call on Najib in Putrajaya earlier today.

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, according to 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 that Batista will work with the EPU to expeditiously identify and implement such strategic projects in Malaysia.

Brazil is ranked as having one of the world's highest petroleum and natural resources, estimated in excess of 100 billion barrels, in petroleum resources.

Meanwhile, Rousseff invited Malaysia to enter into a corresponding substantial smart partnership with Brazil via the 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 which allows for a strong foothold into the country's vast energy resource basins.

He said that Petronas will be sending a team to Brazil in September to further pursue this opportunity.

Other areas of mutual interest discussed between Rousseff and Najib included cooperation in the agriculture and educational sectors.

EBX Group develops and manages business activities in mining, logistics, oil and gas, real estate, energy, renewable resources, and the entertainment sectors.

EBX Group was founded in 1980 and is based in Rio de Janeiro. -- BERNAMA

Prime Minister Datuk Seri Najib Tun Razak (R) greets Eike Batista, chairman and chief executive officer of the Brazilian conglomerate, EBX Group, when the latter called on Najib at the PM's office in Putrajaya today. BERNAMA

1 / 1

Brazil's EBX Group commits US$6b FDI into Malaysia

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 for fast-tracked high impact strategic foreign direct investments (FDI) into Malaysia.

Leave Your Comment

Most Read

Most Commented