KUALA LUMPUR, Oct 5 — Malaysian sovereign wealth fund, Khazanah Nasional Bhd and Cassa Depositi e Prestiti Group (CDP Group) have signed a Memorandum of Understanding (MoU) to identify areas for investment and cooperation opportunities, primarily in Malaysia and Italy.
The first of its kind between Italy and Malaysia, the MoU is set to strengthen economic, trade and industrial relations between Italy and Malaysia, promoting investments between the two countries by supporting the entry and presence of Khazanah and its subsidiaries in the Italian market.
It will also support Italian companies interested in expanding their business in the Asean region, the parties said in a joint statement today.
The non-binding four-year agreement was signed for the CDP Group by its subsidiaries, namely CDP Equity, Fondo Italiano di Investimento SGR, CDP Venture Capital SGR and Simest at the 7th edition of the high-level dialogue on ASEAN Italy Economic Relations on October 3-4 in Bangkok, Thailand.
Among other things, the MoU stipulates that Khazanah is open to evaluate potential investment opportunities in companies in CDP Equity’s portfolio, as well as to cooperate with Fondo Italiano d’Investimento SGR and CDP Venture Capital SGR to analyse potential collaboration opportunities with Italian companies and/or groups with significant businesses in Europe or in Malaysia.
“CDP and Khazanah will mainly focus on analysing potential investment opportunities in Malaysian subsidiaries of Italian companies and/or groups.
“This signifies the Italian business network’s readiness to strengthen economic relations with Asean nations including Malaysia, by exploring investment opportunities in the country,” the parties said.
Khazanah managing director, Datuk Amirul Feisal Wan Zahir said Khazanah is honoured to be a part of the strategic alliance with the CDP Group, which will significantly boost two-way relations between Italy and Malaysia.
“Through this partnership, we are able to jointly facilitate and establish further opportunities for Italian enterprises currently investing or willing to invest in Malaysia, and vice versa, enhancing the economic strength and resilience of both nations,” he said.
Meanwhile, CDP Investment director and chief executive officer of CDP Equity, Francesco Mele said the MoU represents an important milestone in the process of strengthening relations with international institutional investors, fostering the potential growth of Italian companies in South-east Asia. — Bernama
