What the Monaco Economic Board got up to in Malaysia

When Prince Albert II of Monaco headed to the Southeast Asian nation of Malaysia back in November, his retinue was accompanied by senior members of the Monaco Economic Board, who were travelling to the vibrant city of Kuala Lumpur for an international version of the Monaco Economic Forum. 

Malaysia is the fifth biggest economy in the Association of Southeast Asian Nations (ASEAN) in terms of per capita GDP, with massive growth in 2022 of 8.7% and money pouring in from foreign investors to the tune of €15.65 billion that same year.  

The Monaco Economic Board (MEB) were undoubtedly already aware of the potential that could result from forming a stronger bond and relationship with the beautiful country of 33 million when a cohort of its members decided to tag along with an official visit being made to Malaysia by Prince Albert just before COP28 began in late November.  

While the Prince was busy conducting meetings of his own and attending grand events, from the opening of a new Monaco Consulate in the capital city of Kuala Lumpur to a formal dinner at the Royal Palace, the MEB headed off to a special business forum that linked the Monegasque representatives up with a hundred local entrepreneurs and business leaders. 

MEB Chairman Michael Dotta, who headed up the association’s delegation, used the opportunity to mix and mingle, as well as present a solid overview of the Monegasque economy to those in attendance. 

See more: Prince Albert visits endangered species centres as he winds up first official visit to Malaysia

According to a statement released by the MEB following the visit, property development guru Dotta “talked about the real estate sector based on figures from IMSEE, highlighted the Mareterra project and ended with an overview of tourism activities and the Monte-Carlo Société des Bains de Mer in particulier”.  

“Numerous contacts were made during the relaxed cocktail that followed, where discussions on what makes the Principality attractive could continue, a subject that was clearly of interest to the Malaysian business leaders present,” continues the statement.  

The main takeaway from the visit was that Monaco and Malaysia share many common sectors that could easily “cross-pollinate”, including yachting, shipping, energy, pharmaceuticals, tourism and innovation. 

Click here for further information about the visit.

Read related: 

Photos: Prince Albert II in Malaysia on a diplomatic and environmental mission 


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Photo source: MEB