UAE, Malaysia ink deal to boost food security
The agreement also includes the development of the Bagan Datuk International Sea-Hub Multipurpose Terminal in Perak State, reinforcing both parties' commitment to global supply chains and sustainable economic growth through strategic infrastructure development.
High-level signatories reflect deep bilateral commitment
The MoU was signed by Mohamed Hassan Alsuwaidi, Minister of Investment, and Yab Dato' Seri Haji Saarani Bin Mohamad, Chairman of Perak State Development Corporation.
Building on UAE-Malaysia CEPA framework
The two parties will collaborate to explore investment opportunities in food security, building on the Comprehensive Economic Partnership Agreement (CEPA) signed between the UAE and Malaysia in January 2025.
Statements from leaders
Mohamed Hassan Alsuwaidi stated: 'This Memorandum with the Perak State Development Corporation underscores our shared commitment to bolstering regional supply chain resilience and driving sustainable development. Through this partnership, we aim to create meaningful international collaborations that deliver tangible value to both parties, while also contributing to the stability of the global food system.'
Yab Dato' Seri Haji Saarani Bin Mohamad added: 'We are pleased to formalise this partnership with the UAE Ministry of Investment, which will advance our agricultural sector and infrastructure development objectives, and our role in global food security. The Bagan Datuk International Sea-Hub Multipurpose Terminal will serve as a critical gateway for Malaysia's food exports while strengthening our position in global supply chains. We greatly value our partnership with the UAE and look forward to working together.'
Strengthening UAE-Malaysia trade relations
The UAE and Malaysia enjoy strong and growing economic relations. Non-oil bilateral trade reached US$4.9 billion in 2023, with US$4 billion recorded in the first nine months of 2024.
The UAE is Malaysia's second-largest trading partner in the Middle East, accounting for 32% of Malaysia's trade volume with the region. Malaysia ranks as the UAE's 12th largest Asian trading partner.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
29 minutes ago
- Khaleej Times
Invest Group signs a master agency agreement with Fäm Properties
Invest Group Overseas has announced the signing of a Master Agency Agreement with leading brokerage Fäm Properties for the sales and marketing of three luxury real estate projects scheduled to launch over the next six months in the prime Dubai areas of Meydan and Al Furjan. The developments include two upscale residential buildings in Meydan and a gated compound of luxury villas in Al Furjan. This partnership represents one of the most significant exclusive deals in the current market, with further details and investment values to be announced in due course. All three projects are slated for launch within this year Dr. Anas Kozbari, Managing Partner/CEO of Invest Group Overseas, said: 'After extensive market research, we identified Fäm Properties as the ideal partner for our upcoming projects due to their strong reputation and proven expertise in the luxury segment. Dubai's property market is intensely competitive — it's no longer about offering a premium product alone, but about creating a complete experience rooted in quality, transparency, and innovation. These are values we uphold across every stage of development.' He continued: 'At IGO, we're focused on expanding our footprint in Dubai through the introduction of bold, high-value concepts that redefine luxury living and push the market forward in both design and delivery.' Firas Al Msaddi, Founder and CEO of Fäm Properties, said: 'We are proud to be the master sales and marketing partner for a visionary group like Invest Overseas. These projects stand out in both design and location and are set to attract discerning investors and homeowners. With a team of over 1,200 real estate professionals across our organization, we have the depth and market reach to ensure these premium offerings get the visibility and results they deserve.' The upcoming projects will offer a mix of luxury apartments, office spaces, and high-end villas.
Arabian Business
an hour ago
- Arabian Business
Wealthbrix launches in DIFC to target rising demand from UAE's next-gen millionaires and UHNWIs
Dubai International Financial Centre (DIFC) has welcomed the launch of Wealthbrix Capital Partners Limited, a new independent wealth management firm in the UAE. Wealthbrix Capital Partners brings more than 150 years of collective leadership experience and a track record of managing more than $30bn in assets for clients across the Middle East, Asia, and Europe. The firm's entry into the market coincides with a significant wealth shift, as the 'Great Wealth Transfer' is expected to redistribute up to $100tn globally by 2050, including $1tn in the GCC. Wealthbrix Capital Partners in DIFC In 2024 alone, more than 6,700 new millionaires relocated to Dubai, with more than 68,000 high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) now based in the UAE. This number is expected to surpass 98,000 in the next five years. Wealthbrix is strategically focused on Mid-Tier Millionaires (MTMs) with investable assets between $5m and $30m, and UHNWIs with more than $30m. Together, these two segments account for nearly $55tn in global wealth — and are growing faster than the broader HNWI population. Dr. Hamad Buamim, Chairman of the Advisory Board, Wealthbrix Capital Partners Limited, said: 'This is the Dubai moment – an inflection point where global capital, regional ambition, and client expectations are converging. 'Today's wealth creators want more than access to products. They expect a partner who can build and preserve their legacy, support their ambitions, and provide unbiased, high-impact advice.' Wealthbrix offers a client-first, independent model that combines: Private wealth and asset management Debt and equity advisory In-house investment solutions across equities, fixed income, and real estate Consolidated cloud-based reporting and risk management tools The firm is fully licensed by the Dubai Financial Services Authority (DFSA) and enters the market well-capitalised following an eight-figure USD equity round backed by global investors, including regional family offices and venture capital partners. Arif Amiri, CEO of DIFC Authority, said: 'We welcome Wealthbrix to DIFC's growing ecosystem of firms shaping the future of wealth and asset management. As the city with the highest concentration of wealth in the region, DIFC continues to attract firms that bring confidence, innovation, and a broad range of perspectives to the sector. 'We look forward to supporting Wealthbrix growth as they contribute to the evolution of the region's wealth management landscape.' As part of its long-term strategy, Wealthbrix is developing a DIFC-based fund platform, supporting the Dubai Economic Agenda and further anchoring investment activity in the emirate.
Arabian Business
an hour ago
- Arabian Business
Indian Aces 2025: What the ‘Icons' reveal about power, scale and influence in the region
The Indian Aces 2025 Icons category highlights 25 individuals who represent the most well-established and influential Indian-origin business leaders in the Gulf. Their companies collectively generate tens of billions in revenue, employ hundreds of thousands of people, and operate across key economic sectors in the UAE and beyond. But beyond the profiles, the data tells a clear story about how economic power is concentrated, who holds it, and where gaps remain. Sector concentration The majority of Icons operate in retail, construction, or real estate. These three sectors account for 60 per cent of the category. Retail & Consumer Goods – 36 per cent Construction & Real Estate – 24 per cent Finance & Investment – 8 per cent Healthcare – 8 per cent Education – 4 per cent Other (Logistics, Automotive, Petrochemicals, Visa Services) – 20 per cent Despite rapid transformation across the Gulf economy, the Icons category remains anchored in familiar industries. Retail and consumer goods continue to dominate, accounting for more than a third of the group. Many of these businesses span hundreds of outlets, from hypermarkets and fashion chains to jewellery and lifestyle brands. Construction and real estate follow closely, reflecting the long-standing presence of Indian contractors and developers in the Gulf's urban expansion. Leadership structure 64 per cent of Icons are founders or co-founders 36 per cent are professional executives leading legacy organisations Average time in the Gulf: over 20 years A defining characteristic of this group is the prevalence of founder-led businesses. The majority of Icons either established their companies or took them over during the early development of the UAE's private sector in the 1980s and 1990s. For many, the path to influence began with traditional trading models that have since evolved into multi-sector conglomerates. However, a growing number of professional executives also appear in this year's list – including CEOs and vice-chairpersons steering long-established enterprises. This signals a subtle, but important, shift: legacy is no longer measured solely by ownership, but also by long-term stewardship and strategic growth under professional leadership. Geographic reach All Icons operate in the UAE. However: 72 per cent have expanded into other GCC countries 60 per cent maintain business or philanthropic ties to India 40 per cent have extended into Africa, Europe, or North America While all Icons are based in the UAE, their business interests stretch beyond its borders. Almost three-quarters operate across multiple GCC countries, and more than half maintain deep commercial and philanthropic links with India. A significant proportion – around 40 per cent – have expanded further, into Africa, Europe, or North America, through retail footprints, industrial investments, or global service platforms. Business scale Based on available financials, public data, and internal estimates: Combined revenues: $45–50 billion Combined employment: 300,000+ Several Icons operate companies with 1,000+ retail or service sites Many of these groups are among the largest private-sector employers and contractors in the region. Their commercial weight gives them influence in supply chains, real estate development, and consumer spending. Social responsibility 68 per cent of Icons are engaged in structured philanthropic work Focus areas include education, migrant welfare, housing, and healthcare Initiatives are typically privately funded and family-led, with limited public visibility One less visible, but deeply embedded trait among this group is philanthropy. Most Icons are involved in social impact initiatives, typically through foundations or family-run trusts. Common areas of focus include education, healthcare, migrant welfare, and disaster response, both in the UAE and in India. While these initiatives are not always publicly promoted, they often play a central role in how these businesses operate and are perceived – particularly in sectors with large expatriate workforces. Key insights Influence is stable but concentrated – The same core industries continue to dominate year after year. Leadership remains founder-heavy – Succession planning and professional governance models are uneven. Scale is significant – These businesses underpin major segments of the Gulf economy. The Icons of Indian Aces 2025 represent a model of leadership built on endurance, scale, and institutional reach. Their businesses are vital to the structure of the UAE's private sector. In many cases, they are among the largest employers, major landlords, and critical suppliers to both the public and private sectors. As the UAE accelerates its diversification agenda and pushes for more inclusive and innovation-driven growth, the Icons category may face its own evolution. The leaders who appear in future editions of this list will likely need to represent transformation across technology, sustainability, and social equity. RANK NAME DESIGNATION COMPANY 1 M.A. Yusuff Ali Chairman and Managing Director LuLu Group 2 Sunny Varkey Founder and Executive Chairman GEMS Education Group 3 Sima Ganwani Ved Founder and Chairwoman Apparel Group 4 Nawab Shaji Ul Mulk Chairman Mulk Holdings 5 Dr. B.R. Ravi Pillai Founder and Chairman RP Group of Companies 6 Dr. Shamsheer Vayalil Founder and Chairman Burjeel Holdings 7 Renuka Jagtiani Chairwoman and CEO Landmark Group 8 Joy Alukkas Chairman and Managing Director Joyalukkas Jewellery 9 Paras Shahdadpuri Chairman NIKAI Group of Companies 10 Dr. Thumbay Moideen Founder and President Thumbay Group 11 Yogesh Mehta CEO Petrochem Middle East 12 Rizwan Sajan Chairman and Founder Danube Group 13 Ashok Kanna CEO Al Tayer Motors 14 Zubin Karkaria Founder and CEO VFS Global 15 PNC Menon Founder Sobha Realty 16 Firoz Merchant Founder and Chairman Pure Gold Group 17 Mohan Valrani Co-founder and Managing Director Al Shirawi Group 18 Adeeb Ahamed Managing Director LuLu Financial Holdings 19 Sunil John Founder ASDA'A BCW 20 Adnan Chilwan Group CEO Dubai Islamic Bank 21 Ramesh Prabhakar Vice Chairman and Managing Partner Rivoli Group 22 K.P. Basheer Chairman Western International Group 23 Tariq Chauhan Co-founder and Vice Chairman EFS Facilities 24 Ajay Bhatia Chairman / Founder and CEO Bhatia General Contracting / SOL Properties Development 25 Amit Kaushal Group CEO Dubai Holdings
