US companies pledge RM100bil investment in Malaysia in 18 months – US ambassador

RM100 billion in pledges over 18 months

US companies have pledged a combined RM100 billion in investment across Malaysia over the past 18 months, US Ambassador to Malaysia Brian McFeeters said, with much of it concentrated in areas where Washington wants a stronger footprint — electronics, semiconductors, and the fast-growing data centre segment.

"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. 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," — Brian McFeeters, US Ambassador to Malaysia, on BernamaTV's The Nation

McFeeters added that most US investors in Malaysia have also brought newer technologies into the country as part of their expansion.

Malaysia's role in the Indo-Pacific Economic Framework

McFeeters also pointed to Malaysia's constructive role in Asean economic integration, noting that the country will host a round of Indo-Pacific Economic Framework (IPEF) negotiations in October covering how to build a cleaner economy powered by renewable energy and a more resilient supply chain. He said the October round carries particular weight because its outcomes will be presented at the US-hosted Asia-Pacific Economic Cooperation (APEC) Leaders' Meeting in November, which he hopes Prime Minister Anwar Ibrahim will attend given Malaysia's central role in hosting the talks. — Bernama

Source: The Star