INTERNATIONAL Trade and Industry Minister Tengku Zafrul Abdul Aziz has been hosting meetings with major multinationals and trade organisations at this year’s World Economic Forum (WEF) in Davos, Switzerland.

At the meetings were key players with a footprint in the Malaysian market. Ericsson was represented by its president and chief executive officer Borje Ekholm, while Microsoft by its executive vice president Jean-Philippe Courtois.

The minister also had meetings with the Japan External Trade Organisation chairman and chief executive officer Nobuhiko Sasaki, and Dow Jones chief executive officer Almar Latour.

“It has been great so far. As you know, the 2023 WEF has about 2,700 leaders from 130 countries, including 52 heads. I am looking forward to more meetings, especially with my counterparts,” Tengku Zafrul said.

“Some of the companies we met have already been investing in Malaysia for a while but want to ensure that their investments are protected.

“We also spoke about the potential for expanding their operations and increasing their investments,” he said yesterday, adding that companies wanted to learn about the new government and its intentions.

Meanwhile, Malaysian companies are also expanding abroad and these multinationals can also assist them in the endeavour, the minister said.

Tengku Zafrul is leading the Malaysian delegation to WEF 2023.

Among the scheduled sessions in which the minister will participate is the cost of economic fragmentation, supply chain and transport, as well as a “Living with Risk” session.

Tengku Zafrul will also participate in a two-panel session on “Global Trade: Navigating The Post Pandemic Supply Chain Challenge” together with Sultan Ahmed Bin Sulayem, group chairman and chief executive officer of Dubai-based DP World.

The session will focus on whether macroeconomic forces – such as inflation, geopolitical tensions, spikes in commodity prices, supply chain disruptions and capacity constraints – will continue into 2023 and how companies can create more resilient supply chains. – Bernama, January 18, 2023.