Asean Summit could unlock hundreds of billions in FDI, trade for Malaysia: Juwai IQI
Its co-founder and group CEO Kashif Ansari said in a statement today that it is important for Asean member countries to work together as the region faces a complicated world, with global strategic rivalries, new technologies, and artificial intelligence (AI) disruptions.
'The summit could boost Malaysia's economy through regional integration, Asean unity in global trade, and foreign direct investment. Changes in these three areas could mean hundreds of billions of ringgit in additional trade and capital over the coming years.
'The Johor-Singapore Special Economic Zone (JS-SEZ) is a prime example of integration, which could contribute as much as RM110.9 billion to Malaysia's economy annually by 2030,' he said.
Kashif said a tighter-knit Asean could boost Malaysia's total trade volume significantly, to about RM3.87 trillion by 2027; exports could reach an all-time high of RM2.13 trillion in annual export volume by 2030.
'While the agreements coming out of the summit could have us shipping more goods out by 2030, we will also be receiving more inbound FDI, with that money going into local innovation, infrastructure, employment, and property,' he noted.
In the property sector, based on IQI's analysis, FDI inflows during this period will generate at least RM15 billion in new real estate activities, which include industrial parks, commercial centres, logistics hubs, and housing developments, said Kashif
'With RM300 billion of FDI projected by 2030, we estimate RM15 billion, or 5%, will be channelled into the real estate industry.
'We have estimated this 5% ratio between FDI and real estate based on typical patterns seen across the region. The real number could be lower, or much higher,' he said.
According to Kashif, global brands have built data centres, electric vehicle facilities, and logistics hubs over the past few years.
These developments create high-quality property demand in the industrial sector and have a spillover effect on housing, office, and retail.
'This Asean Summit is a platform for improving Malaysia's future. If regional leaders can agree to deepen intra-Asean trade, harmonise regulations, and reduce trade barriers, Malaysia and all our partner nations will benefit,' he added.
The Asean Summit will be held at the Kuala Lumpur Convention Centre on May 26 and 27, alongside the second Asean-Gulf Cooperation Council Summit and the inaugural Asean-Gulf Cooperation Council -China Summit. – Bernama
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