Amnesty International was one of The hottest themes In Kuala Labor this week, as Leaders From the Gulf Cooperation Council, the Association of Southeast Asia and China meet In the Malaysian capital.
However, the Deputy Minister of International Relations in the Kingdom of Saudi Arabia in the Ministry of Investment, Sarah Al -Adl, is looking for new partnerships in other sectors.
“When we came here (Kuala Lumpur), we have seen that there is a strong focus on artificial intelligence. (But) there are many unexploited areas in which we can cooperate. I think agriculture and food security may be a very strong component of cooperation.” wealth ASEAN-GCC Economic Forum on Wednesday.
The committee was a special session on strengthening the Asean-GCC-CINA investments and included the Deputy Minister of Investment in Malaysia, Trade and Industry, Liew Chin Tong, CEO of Maybank Dato ‘Khairussaleh Ramli, and President of China Energy Engineering Corporation, Song Hai Liang.
The Kingdom of Saudi Arabia is already participating in the agricultural sector. Sarah said on Wednesday that the Saudi Agricultural Investment and Tamps Company (Salic), owned by the General Investment Fund in the Kingdom, has already invested in at least eight countries, exceeding a total of 27 billion Saudi riyals (7.2 billion dollars).
Part of those investments in Southeast Asia. In February, Salik acquired 44.57 % stake in Olam Agri for $ 1.78 billion, up to the total property share of 80.01 %. Olam Agri is part of the Olam Group group, Agri-Business, which is based in Singapore, is one of the few companies in Southeast Asia in Fortune Global 500.
ACWA strength in the Kingdom of Saudi Arabia as well Fell A memorandum of understanding with the Investment Development Authority in Malaysia to facilitate strategic investment projects in clean energy infrastructure throughout Malaysia. The partnership targets 12.5 GB of capacity by 2040 and has an investment value of $ 10 billion.
Expanding Islamic financing
Another field of cooperation in financing.
Islamic financing is already a large company in the Gulf, especially in countries such as Saudi Arabia and the United Arab Emirates. In Southeast Asia, Malaysia is the leading economy in this sector, led by Maybank, the largest Islamic financial institution in Asia and the Pacific.
Maybank Khairussaleh CEO said that an opportunity It is “huge” even in Southeast Asia only.
“The halal economy in ASEAN is about 300 billion dollars, and this is only about 10 % of ASEAN’s gross domestic product.” “When you look at the residents of ASEAN, about 35 % of Muslims, so there are only many aspects to meet the needs of Muslims.”
However, besides the Muslim population, Khayallah suggested that Islamic finance is not exclusive to Muslims and can appeal to some investors because of his morals based on morals.
The administration of Islamic wealth follows Sharia, which means that some aspects are not in line with traditional financing. For example, Islamic financial investments avoid sectors and companies participating in banned activities such as alcohol or gambling.
“From the countries of the Gulf Cooperation Council, from China, we know that there are many wealthy people. If we first manage awareness and then provide valuable solutions to them, which can push Islamic financing to the forefront.”
This story was originally shown on Fortune.com
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