Speaking at the launch of his vision for a new Madani economy, Anwar said it was imperative that the country introduce reforms aimed at making Malaysia one of the top 12 economies in the world in terms of competitiveness and ease of doing business.

“We must announce to all corners of the world that Malaysia is open and willing to accept the presence of investors and businesses,” he said.

Anwar, who is also the finance minister, said several multinationals, including Sumitomo Corporation, Tesla, Rongsheng, and Samsung Engineering have already pledged their commitments to invest in Malaysia.

He said the government was intensifying its efforts to ensure that more people choose Malaysia as an investment destination.

The prime minister said the government will strengthen investment promotion agencies under the Malaysian Investment Development Authority (Mida) to facilitate more proactive dealings with investors.

The government will also review investment incentives to encourage investments that generate high-income jobs and upgrade industrial areas with infrastructure and enhancing human capital development to meet the needs of investors.

Identifying the petrochemical sector in Kerteh, Terengganu, a data centre in Sedenak, Johor, and a downstream rubber industry in Kuala Nerang, Kedah, Anwar announced an initial RM100 million allocation to upgrade the infrastructure of their industrial areas.

To spur the digital economy, he also announced a matching digitalisation grant of RM100 million to help accelerate the transition by SMEs of its business model to a more digital one.