Bin Zayed International LLC (BZI) has targeted RM100 billion worth of foreign direct investment (FDI) to Malaysia over the next few years, to be delivered in phases, starting with the development of Widad@Langkasuka.
BZI is a leading conglomerate owned by His Highness Sheikh Khaled bin Zayed Al Nahyan, who is a senior member of the Abu Dhabi royal family member as well as a prominent business leader and philanthropist in the Gulf States, with diverse business interests in the local and international markets, and which its business ventures include management of real estate and construction of residential and commercial buildings and towers.
In a formal letter to the Prime Minister of Malaysia, BZI expressed its strong interest to invest in Malaysia via an exclusive collaboration with Widad Business Group.
"After some productive meetings and further discussions, WBG and BZI are most proud and pleased to jointly inform the Prime Minister that we have agreed to form a joint venture entity in Malaysia for the specific purpose of the development project in Langkawi, Kedah, Widad@Langkasuka. We are confident that this project will become one of the iconic projects in Malaysia which will bring Langkawi global recognition and a truly iconic place that Malaysia would be proud of," said BZI Group Managing Director Sheikh Midhat Kidwai.
"Now that we have solemnized our business relationship via this joint venture, we would like to express our strong interest in acquiring or investing in more concessions and infrastructure projects. Starting with Widad@Langkasuka, we believe that our involvement in projects here can bring in FDI of more than RM100 billion for the next few years. This strong cash flow influx can assist to provide a significant recovery boost for the Malaysian economy as well as the creation of more than 30,000 jobs," he added.