Malaysia plans to spend 60 million Malaysian Ringgit ($14.5 million) participating in Expo 2020 Dubai, but is aiming to generate around 10 billion Malaysian Ringgit ($2.4 billion) worth of potential investments and businesses, a return of nearly 165 times the Southeast Asian country’s investment in the event, according to a senior Malaysian government minister.
"The RM10 billion potential investments would be the result of strategic alliances in business leads and signing of mutual agreements," Malaysia’s Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin said at a press conference on Monday, according to Bernama – the Malaysian National News Agency.
Expo 2020 Dubai will run from October 20, 2020 to April 20, 2021 and it is estimated the event will attract 25 million visitors to the United Arab Emirates.
Yeo said Malaysia is aiming to secure 1,000 business leads and achieve 20 partnership agreements during the six-month long event, with clean energy and green industry two of its key focal points.
"We have over 200 slots for local companies from both the public and private sectors to showcase their wares and solutions to the world via the Expo 2020 Dubai," Yeo said, adding that the country plans to spend 60 million Malaysian Ringgit ($14.5 million) participating in Expo2020 Dubai, a cost which will be sponsored by the private sector.
"Expo 2020 Dubai would be the largest platform for Malaysia to share its vision, aspirations, culture and heritage to the world," she said.
Expo 2020 Dubai announced last weekend it has invited all 192 countries “without exception” to take part in the event next year, making it the most inclusive and international Expo ever organised.
“We have invited all countries in the world without exception, in line with our commitment to making Expo 2020 Dubai a truly international event and platform for all of humanity,” an official Expo 2020 Dubai spokesperson said in a statement.
“For more than 170 years, World Expos have been apolitical events focused on furthering humanity for the common good through innovation, cultural exchange, creativity and collaboration. We are proud to continue that tradition,” the statement added.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.