YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz
Minister of Investment Trade and Industry
Tengku Zafrul Aziz is Malaysia’s Minister of Investment, Trade & Industry, responsible for growing the country’s manufacturing industry and trade, as well as attracting investments into the country. In 2023, he spearheaded the formulation of Malaysia’s New Industrial Master Plan 2030, the Chemical Industry Roadmap 2030 and the National Industry ESG Framework, set to transform Malaysia’s industrial landscape and elevate Malaysia’s industries in the global value chain. In 2024, under his tenure, MITI also launched the Green Investment Strategy and the Circular Economy Policy Framework for the Manufacturing Sector, in line with the strategies and aspirations outlined by key Malaysian roadmaps particularly NIMP 2030.
A clear champion of Malaysian interests, Tengku Zafrul has consistently promoted Malaysia’s economic and industrial reform stories through various exclusive international media interviews, including by Bloomberg, CGTN, CNA, CNBC, CNN, the Financial Times, Frankfurter Allgemeine, the Jakarta Post, Japan Times, the Straits Times, South China Morning Post, Singapore Business Times, Thai PBS, TIME,
the New York Times and the Washington Post.
He has also been invited to speak at various thought leadership fora including by the Belt & Road Summit, Fortune, Khazanah Megatrends Forum, the Milken Institute, the World Economic Forum, Bloomberg Events, SCMP Events, and the S. Rajaratnam Endowment Dialogue. Tengku Zafrul was previously Malaysia’s Minister of Finance from March 2020 – October 2022, where he drove the formulation and implementation of eight stimulus and aid packages, the phased National Recovery Plan (NRP) to support Malaysia’s safe exit from the pandemic, as well as three national budgets (2021 – 2023). Malaysia achieved a GDP of 8.7% in 2022, the highest in ASEAN and the nation’s highest in 22 years, largely due to targeted pandemic-related policy measures. These measures are detailed in his book, Weathering the Economic Storm: A Journey through the Uncharted Waters of COVID-19, published in 2022.
Immediately prior to his first ministerial appointment, Tengku Zafrul was the Group CEO and Executive Director of CIMB Group Holdings Berhad, a leading ASEAN universal bank and a global leader in Islamic finance, with presence in 13 countries. He had also served as the President Commissioner of PT Bank CIMB Niaga in Indonesia. His 22-year career in banking and finance also saw him helm senior positions at Maybank Investment Bank Berhad, Maybank Kim Eng Holdings, Citigroup Malaysia, Kenanga Holdings Berhad, Avenue Securities and Tune Money.
A keen sports, sustainability and youth development enthusiast, Tengku Zafrul spearheaded various initiatives such as CIMB’s The Cooler Earth Sustainability Summit, the CIMB ASEAN Scholarship and the CIMB Foundation’s proprietary Be$MART financial literacy programme for underprivileged students. He also completed the full Iron Man Challenge in 2019 and raised funds for charity by successfully completing the Abbott World Marathon Majors between 2016 – 2018.
Married to Raja Johanna Adrina Raja Arshad, Tengku Zafrul has four children aged 20, 12, 10 and 8. He is also an Honorary Captain in Malaysia’s Royal Navy Volunteer Reserve.
