Can Anwar Leverage On Friendships To Attract Investments

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During the 15th general election campaign, Pakatan Harapan chairman Anwar Ibrahim repeatedly said he would use his personal contacts with world leaders to bring in investments into Malaysia if he became the 10th prime minister.
In the ceramah that I attended in Selangor where he addressed large crowds, he spoke of his good relations with leaders of various countries. He revealed that even when he went overseas for a holiday, the heads of state of that country would sometimes call him up and ask him to pay a call.
For instance, he said, then Philippine president Rodrigo Duterte even sent an aircraft to fly Anwar to Manila to visit him when he (Duterte) learned that the Malaysian opposition leader was vacationing with his family elsewhere in that country.
Narendra Modi, the prime minister of India, had hosted him as had other leaders in China, the Middle-East and elsewhere when he was not in government, he said. He talked of his contacts with top leaders, including business leaders, in the US and Asia. Turkey and its president Recep Tayyip Erdoğan always received special mention from Anwar.
Many would have felt at that time that he was simply blowing his own trumpet, and that he was trying to win votes by declaring how popular he was.
Now that he is prime minister, he has a chance to prove that this was not just empty talk and that he will use his personal contacts to indeed bring in much-needed investment into Malaysia and improve trade to speed up economic recovery following the Covid-19 pandemic.
In his first two outings, to Indonesia and then to Brunei, he has cemented relations with not just the nations but the leaders of these two nations as well.
Importantly, memoranda of understanding have been signed to explore investment opportunities.
The Malaysian Investment Development Authority (MIDA) and the Brunei Investment Agency (BIA) , for instance, signed an MoU on Jan 25 to explore investments of mutual interest.
Ads by KioskedThe MoU, among other things, will see Malaysia and Brunei cooperating and investing in the downstream oil and gas sector, tourism, digital economy, artificial intelligence, smart manufacturing, smart agriculture and the halal food industry.
Anwar and the Sultan of Brunei, Sultan Hassanal Bolkiah witnessed the signing by MIDA CEO Arham Abdul Rahman and BIA acting managing director Sofian Mohammad Jani at Istana Nurul Iman in Bandar Seri Begawan.
The MoUs and letters of intent (LoI) signed between Malaysian and Indonesian firms were more concrete. On Jan 9, Anwar and Indonesian President Joko “Jokowi” Widodo witnessed the handover of 11 LoI from ten Malaysian investors to participate in the development of the new capital city of Nusantara in Indonesia.
The two neighbours also signed eight memoranda of understanding aimed at investing or collaborating in sectors such as shipping, export-import financing, green energy and battery industry development.
There is no doubt that Malaysia, just as Indonesia, stands to gain from these proposals and agreements if they materialise over the next few years.
In both Brunei and Indonesia, Anwar stressed his personal relations with the leaders of these two nations. The fact that Widodo and the Brunei sultan think well of Anwar is beyond dispute. For instance, Malaysians saw how the sultan, when he visited Malaysia on Nov 28, took over the wheel of the official vehicle and drove Anwar to Seri Perdana in Putrajaya.
Ads by KioskedAnwar, in fact, stressed his friendship with both Hassanal Bolkiah and Widodo during his visits. In Brunei, Anwar told the Malaysian media on Jan 25: “When two country leaders have a very strong friendship… and have plans for both countries… they can always check the progress, and the implementation will be expedited.
“His Majesty has been watching and following our development (in Malaysia). Friendship is important, and ours has been good and… kind of personal. Whenever I’m in distress, His Majesty always shows concern.”
In Indonesia, on Jan 8, Anwar said his administration would always give priority to Indonesia. Asked by newsmen why he chose to visit Indonesia first after becoming prime minister, he said: “Indonesia accepted me as a true friend, so I will never forget that.”
“Indonesia is a neighbour, we share the same roots and have a good friendship. It (Indonesia) was also a true friend at a time when I was cast out and sidelined,” Anwar added.
To his credit, Anwar seems to be on track to bringing in investments by leveraging on his friendships, although how successful he would be remains to be seen.
I’m sure businessmen are wondering which other countries Anwar will visit next to leverage on friendships established from the time he served in Dr Mahathir Mohamad’s Cabinet and as president of Abim, the Malaysian Islamic Youth Movement.
Ads by KioskedTurkey, of course, will play ball with him and there is every likelihood that Malaysia will see more investments from, and trade with, that country. Some of the Gulf nations may also answer his call to invest in Malaysia or improve trade, as may India and China.
But, as I said, all this remains to be seen. The investments and trade upswings have to be substantial enough to make an impact on the Malaysian economy; and they have to be sustainable over the years too.
It’s therefore too early to pat Anwar on the back, although he is laying out the path. - FMT
The views expressed are those of the writer and do not necessarily reflect those of MMKtT.

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