In a briefing by the Malaysian Trade and Investment Promotion Mission, Senior Minister of International Trade and Industry Mohammad Azmin Ali said that so far this year, Malaysia has attracted RM16. $3.8 billion) in new investment commitments. May 21, USA.
“We hope that these investment commitments will be completed in the third quarter so that Malaysians will have jobs,” he noted.
Companies planned to invest include medical device company Insulet Corporation, advanced materials maker Ferrotec Holding Corporation, cloud computing provider Amazon Web Services and healthcare technology company Cue Health. new straits times Report.
Other investment commitments came from seasoned investors, including semiconductor maker Texas Instruments and another medical device maker, Boston Scientific.
Focus on high value industries
The 10-day trade and investment delegation started on May 9, focusing on new fields of innovation and high added value.
Azmin said the two companies are also working on creating a business ecosystem, ensuring technology transfer and the participation of local industries, especially SMEs, in the supply chain.
“Their investments will create jobs, provide skills training opportunities for local workers, build partnerships with local universities and help develop local suppliers,” he said.
Strong bilateral trade between US and Malaysia
The US is now Malaysia’s third largest global trading partner and export destination, while Malaysia is the 17thth America’s largest trading partner. Total trade between the two countries in 2021 up 21.4% from the previous year to 217.1 billion ringgit ($49.5 billion)
Malaysia’s exports to the United States rose 30.4 percent to 142.2 billion ringgit ($32.4 billion), with major exports including electrical and electronic products and rubber products.
Imports from the United States rose 7.4 percent to 74.87 billion ringgit ($17.1 billion), including electrical, electronic and steel products.
Amin further said that he believes some of the companies of American billionaire entrepreneur Elon Musk, namely Starlink, SpaceX and Tesla, will be interested in investing in Malaysia.
In a briefing by the Malaysian Trade and Investment Promotion Mission, Senior Minister of International Trade and Industry Mohammad Azmin Ali said that so far this year, Malaysia has attracted RM16. $3.8 billion) in new investment commitments. May 21, USA. “We hope that these investment commitments will be completed in the third quarter so that Malaysians will have jobs,” he noted. Companies planned to invest include medical device company Insulet Corporation, advanced materials manufacturer Ferrotec Holding Corporation, cloud computing provider Amazon Web…
In a briefing by the Malaysian Trade and Investment Promotion Mission, Senior Minister of International Trade and Industry Mohammad Azmin Ali said that so far this year, Malaysia has attracted RM16. $3.8 billion) in new investment commitments. May 21, USA.
“We hope that these investment commitments will be completed in the third quarter so that Malaysians will have jobs,” he noted.
Companies planned to invest include medical device company Insulet Corporation, advanced materials maker Ferrotec Holding Corporation, cloud computing provider Amazon Web Services and healthcare technology company Cue Health. new straits times Report.
Other investment commitments came from seasoned investors, including semiconductor maker Texas Instruments and another medical device maker, Boston Scientific.
Focus on high value industries
The 10-day trade and investment delegation started on May 9, focusing on new fields of innovation and high added value.
Azmin said the two companies are also working on creating a business ecosystem, ensuring technology transfer and the participation of local industries, especially SMEs, in the supply chain.
“Their investments will create jobs, provide skills training opportunities for local workers, build partnerships with local universities and help develop local suppliers,” he said.
Strong bilateral trade between US and Malaysia
The US is now Malaysia’s third largest global trading partner and export destination, while Malaysia is the 17thth America’s largest trading partner. Total trade between the two countries in 2021 up 21.4% from the previous year to 217.1 billion ringgit ($49.5 billion)
Malaysia’s exports to the United States rose 30.4 percent to 142.2 billion ringgit ($32.4 billion), with major exports including electrical and electronic products and rubber products.
Imports from the United States rose 7.4 percent to 74.87 billion ringgit ($17.1 billion), including electrical, electronic and steel products.
Amin further said that he believes some of the companies of American billionaire entrepreneur Elon Musk, namely Starlink, SpaceX and Tesla, will be interested in investing in Malaysia.
