President of the Monaco Economic Board (MEB) Michel Dotta visited Kuala Lumpur as part of the delegation which accompanied HSH Prince Albert during his State Visit to Malaysia at the end of last month, providing the opportunity to make promising first connections.

The trip began with the inauguration by the Sovereign of the new Consulate of Monaco in Kuala Lumpur, under the direction of Mr Sri Naresh Mohan, recently appointed Honorary Consul, providing an important new anchor point for the Principality, and in particular for the MEB which regularly relies on the valuable business networks of the Consuls of Monaco abroad.

The next day, following the meeting of HSH Prince Albert II with the King of Malaysia during official ceremonies at the Royal Palace, an economic forum was held with around a hundred entrepreneurs and high-profile personalities taking part.

Michel Dotta presented several aspects of the dynamism of the Principality: he made a general presentation of the Monegasque economy, discussed the real estate sector based on IMSEE figures, zoomed in on the Mareterra project and finally gave an overview of tourist activities and of Monte-Carlo Société des Bains de Mer in particular.

The Prince Albert II of Monaco Foundation and the Yacht Club of Monaco, which signed a cooperation agreement with its Malaysian counterpart, also took part.

After a speech by Mr Sri Naresh Mohan, the formal sequence ended with a speech by the Sovereign. A friendly cocktail followed, during which numerous contacts were established and which enabled discussions to continue on the particularities of the Principality, a subject of real interest on the part of the Malaysian business leaders present.

With a population of more than 33 million, Malaysia is the fifth economic power in ASEAN in terms of GDP, and the third in GDP per capita behind Singapore and Brunei. The year 2022 was marked by exceptional growth (+8.7%) and a record investment flow ($16.9 billion). Sectors such as yachting, shipping, energy, the pharmaceutical industry, tourism and innovation could open up new prospects for economic collaboration between the two countries.

ORIGINAL SOURCE & PHOTO: Monaco Economic Board

Michel Dotta addresses meeting in Malaysia