22-8-2023 (KUALA LUMPUR) Over the past 18 months, United States (US) companies have pledged investments totaling RM100 billion in various sectors across Malaysia, according to US Ambassador to Malaysia Brian McFeeters.
These substantial investments target sectors in which the US aims to strengthen its presence, including electronics, the semiconductor industry, and the burgeoning data center segment.
McFeeters highlighted the significance of these investments, stating, “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.”
Furthermore, McFeeters noted that most US companies investing in Malaysia are reaping the benefits of the latest technologies introduced in the country.
In addition to discussing economic investments, McFeeters emphasized Malaysia’s constructive role in promoting economic integration within the Association of Southeast Asian Nations (ASEAN). He also highlighted Malaysia’s willingness to host the Indo-Pacific Economic Framework (IPEF) negotiation round in October of this year. The IPEF aims to explore ways to create a sustainable economy driven by renewable energy (RE).
The negotiation round will delve into 21st-century issues, focusing on the development of a clean economy through increased RE utilization and enhanced supply chain resilience to prevent future disruptions.
McFeeters stressed the importance of the October negotiation round, as its outcomes will be announced during the Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting scheduled for November. He expressed hope that Malaysia’s Prime Minister, Datuk Seri Anwar Ibrahim, would attend the APEC meeting, highlighting Malaysia’s significant role in hosting the negotiations.
