Malaysia attracts foreign investment through friendly approach

Malaysia is expected to receive more investments going forward, supported by investors’ confidence in the Madani Economy framework and from offshoots from existing investments, said Malaysia Semiconductor Industry Association (MSIA).

VNA Monday, August 28, 2023 11:19

Malaysia attracts foreign investment through friendly approach ảnh 1

Petronas Twin Tower in Kuala Lumpur, Malaysia (Photo: thesundaily.my)

Kuala Lumpur (VNA) – Malaysia isexpected to receive more investments going forward, supported by investors’confidence in the Madani Economy framework and from offshoots from existinginvestments, said Malaysia Semiconductor Industry Association (MSIA).

MSIA President Datuk Seri Wong Siew Hai saidthe investment-friendly approach practised by the government will attractforeign companies to enter the Malaysian market.

Prime Minister Anwar Ibrahim is working veryhard to attract investments from all over the world, including China, the USand even CEO of Tesla’s Elon Musk.

Besides, there are other investment announcements from European semiconductorfirms. Investors will view these approved investments positively.

Wong Siew Hai said US companies have expanded their footprint in Malaysia suchas Intel Corp and there are new companies coming in. TSo, investors areconfident about Malaysia but the country wants more quality investments.

US Ambassador to Malaysia Brian McFeeters saidUS companies made investment pledges totalling 100 billion RM (21.5 billion USD)in various sectors over the last 18 months.

He said these involve significant investmentsin areas where the US wants to strengthen its presence, namely electronics andsemiconductor sectors, as well as the data centre segment which is a big growtharea.

Minister of Investment, Trade and Industry Tengku Datuk SeriZafrul Tengku Abdul Aziz had previously said that Malaysia would prioritiseimproving the ease of doing business in the country to lure qualityinvestments.

According to him, the government will continue to streamline processes andmonitor and track these investment processes closely and in real time through aproject management and delivery unit within the ministry.

Meanwhile, Bank Muamalat Malaysia Bhd chiefeconomist and social finance head Mohd Afzanizam Abdul Rashid opined thatMalaysia has always portrayed itself as non-partisan and has been accommodativeto bilateral ties.

According to him, threats of deglobalisation are seen to be taking root which can becounterproductive if allowed. Therefore, forging economic alliances withvarious (countries) should signify Malaysia’s commitment to remain open toforeign direct investments (FDIs).

ꦫ More importantly, Mohd Afzanizam Abdul Rashid, saidinvestments by foreign companies could be a catalyst for infrastructuredevelopment as well as transfers of technology./.

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#Malaysia #foreign investment #economy #Vietnam #Vietnamplus #Vietnam News Agency Malaysia

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