KUALA LUMPUR: Malaysia should fully leverage the vast potential of the local rare earth industry (REE), says Prime Minister Datuk Seri Anwar Ibrahim.

During today's National Economic Action Council (MTEN) Meeting No. 6 of 2024, Anwar said that collaborations with international experts should aim to develop the entire industry chain within the country.

"Strengthening enforcement is crucial to prevent resource exploitation, which can reduce government revenues and impede the growth of the REE industry.

"We are also reviewing the 'New Deal for Business' initiative to position Malaysia as a preferred business destination, a vital step given our current standing in the global competitiveness index," he said in his social media post today.

Anwar added that the government was confident that these efforts would enhance investor confidence and strengthen Malaysia's economic foundation.

https://www.nst.com.my/news/nation/2024/08/1087193/anwar-calls-full-potential-malaysias-rare-earth-industry