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US firms pledge to invest RM100 billion in Malaysia

Updated 18 minutes ago · Published on 21 Aug 2023 11:47PM · 0 Comments More

US Ambassador to Malaysia Brian McFeeters says many American companies depend directly on something made in Malaysia. – The Malaysian Insight file pic, August 21, 2023. AMERICAN companies have made investment pledges totalling RM100 billion in various sectors in Malaysia over the last 18 months, US Ambassador to Malaysia Brian McFeeters said.

He said these are significant investments in areas where the US wants to strengthen its presence, namely electronics and semiconductor sectors, as well as data centre segment, which is a big growth area.

“US investments are really coming strong into Malaysia and that is good for the US because we found out during the Covid-19 pandemic that Malaysia is a key part of the world’s supply chain,” he said on BernamaTV’s “The Nation” programme today.

“A lot of US factories are depending directly on something made in Malaysia, so we have a mutually beneficial economic relationship that has been developed to this day.”

He said most US companies that have invested in Malaysia have also gained the benefits from latest technologies coming into the country.

McFeeters also said Malaysia has been playing a constructive role in terms of economic integration within the Asean region.

He highlighted that Malaysia has agreed to host the Indo-Pacific Economic Framework negotiation round, which will be held in October to discuss ways of creating a clean economy with renewable energy (RE).

The negotiation round, he said, will be looking into 21st century issues in areas of how to create a clean economy using more RE and improving the supply chain to avoid another breakdown in the future.

“The (negotiation) round in October is particularly important because by November, the US is hosting the Asia-Pacific Economic Cooperation Leaders’ Meeting where we will announce the results of the discussions,” he said.

“Hopefully, Prime Minister (Anwar Ibrahim) will be there because Malaysia is playing a very big part in hosting the negotiation.” – Bernama, August 21, 2023.