SAN FRANCISCO: Tech giants Google, Enovix Corporation, Microsoft and Tiktok will extend their investments in Malaysia on a large scale, says Prime Minister Datuk Seri Anwar Ibrahim.

“I have held meetings with large companies that have acknowledged that they will extend their investments in Malaysia on a large scale,” Anwar said following meetings with these tech giants.

“A stable political system and clear policies are among the important factors for them to invest in Malaysia.

“The approval process will also give them confidence. The speed of the presence of new investors will give Malaysia a new record,” he told reporters from Malaysia after the meetings.

Google was represented by its president and chief investment officer Ruth Porat, Enovix by its chief operating officer Ajay Marathe, Microsoft Asia by its president Ahmed Mazhari and TikTok by chief executive officer Shou Zi Chew.

The San Francisco Bay Area is home to many of the biggest Fortune 500 companies, which are the most innovative firms in artificial intelligence (AI) development, biotech, software, clean technology, and social media.

Anwar – who is also the Finance Minister – has also received a courtesy call from TPG’s founding partner, executive chairman and director Jim Coulter. TPG is a leading global alternative asset management firm.

The Prime Minister arrived here on Monday (Nov 13) for the 30th APEC Economic Leaders’ Meeting (AELM) from Nov 14 to 17, marking his maiden visit to the official meeting as the Prime Minister of Malaysia.

Also present during the meetings were Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Communications and Digital Minister Fahmi Fadzil, Malaysia’s ambassador to the United States Datuk Seri Mohamed Nazri Abdul Aziz as well as other senior government officials. – Bernama

Source: The Star https://www.thestar.com.my/news/nation/2023/11/16/tech-giants-to-extend-investments-in-m039sia-says-anwar