Tengku Zafrul meets with Ericsson, Microsoft in Davos

Ericsson Group and Microsoft are among the multinational companies that International Trade and Industry Minister Tengku Zafrul Abdul Aziz had bilateral meetings with at this year’s World Economic Forum (WEF).

At the meetings, which discussed potential investment and expansion, Ericsson was represented by its president and CEO Borje Ekholm while Microsoft by its executive vice president Jean-Philippe Courtois.

The minister also had meetings with Japan External Trade Organisation (Jetro) chairperson and CEO Nobuhiko Sasaki as well as Dow Jones & Company CEO 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 bilateral meetings, especially with my counterparts,” Tengku Zafrul said when asked about a string of engagements and bilateral meetings he had since arriving in Davos, Switzerland on Monday.

He said during the bilateral meetings thus far, the conversations were on opportunities in Malaysia.

“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 in Malaysia,” he told Bernama yesterday on the sidelines of WEF 2023 at the ski resort town.

Tengku Zafrul disclosed that the conversations also touched on what Malaysia could offer these multinationals.

“So, with the new government, we are looking at stability and we also spoke about Malaysia’s prospects,” he said.

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

On the presence of the “Malaysia House” for the first time at the WEF, he said it is a good approach for Malaysia’s presence to be felt.

“Other countries have taken this approach many years ago. We need our presence to be felt - a stronger presence than before,” he said.

Tengku Zafrul is leading the Malaysian delegation to WEF 2023.

Among the scheduled sessions the minister will participate in is on the cost of economic fragmentation, supply chain and transport, as well as a session titled “Living with Risk” where he will be one of the three panellists.

He will also participate in a two-panel session on “Global Trade: Navigating The Post-Pandemic Supply Chain Challenge” together with Sultan Ahmed Sulayem, group chairperson and CEO 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

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