Page 360 - Westport Guide To Malaysia

352 MALAYSIA MEANS BUSINESS – FOREWORD
The abundance of opportunities prevalent in Malaysia’s economy continue to provide a strong foundation for foreign investments to grow and flourish.
The Malaysian economy remains well positioned for recovery and to realise growth and new opportunities. The oil and gas sector in particular is starting to see improvements, with both profit and cash flow from operations demonstrating an encouraging trajectory. Nevertheless, most energy companies continue to take cautious steps in charting their growth, while remaining optimistic about the future and the prospects for a more sustainable recovery.
Malaysia continues to be a competitive and attractive investment destination, and the established presence of many of the world’s leading oil and gas multinationals serves as a testimony to the enduring potential of Malaysia’s oil and gas resources. Returns from Malaysian investments have supported the growth of various global players, even as the landscape evolves to provide development opportunities for smaller companies.
Malaysia’s location among the world’s most important sea routes provides excellent logistical advantages. The nation’s abundant natural and physical resources as well as regional growth corridors beckon investors in almost all business sectors.
As the global energy transition continues to gather pace, driven by technological advancements and supported by societal and regulatory push towards attaining carbon neutrality, PETRONAS has stepped up to fulfil its responsibility to be part of Malaysia’s sustainable future. In this regard, the national oil company is working proactively to shape the country’s ambition to deliver low-carbon energy solutions that will provide the twin benefits of accelerating a just energy transition and stimulating economies.
As a progressive energy and solutions partner enriching lives for a sustainable future, PETRONAS heartily welcomes partnerships within and outside Malaysia to achieve this goal that benefits both the people and the planet we live on.
Datuk Tengku Muhammad Taufik
President and Group CEO, PETRONAS