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HomeMalaysia NewsMalaysia Secures RM63 Billion in US Investments, Primarily from Tech Giants, Announces...

Malaysia Secures RM63 Billion in US Investments, Primarily from Tech Giants, Announces Anwar Ibrahim

In a significant development, Malaysia has successfully garnered a total of RM63 billion in proposed investments from the United States, with a substantial portion originating from technology giants, according to Prime Minister Anwar Ibrahim. The Prime Minister revealed that RM8.33 billion resulted from the trade and investment mission organized before the commencement of the Asia-Pacific Economic Cooperation (Apec) summit, with additional investments stemming from individual meetings held during the summit.

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Prominent contributors from the trade mission include Abbott Laboratories, Mondelez International, Ford Motor Company, Amazon Web Services, and Boeing. Anwar specified that the remaining investments were secured through one-on-one meetings with technology heavyweights such as Google, Microsoft, TikTok, and TPG.

Highlighting the significance of these investments, Anwar emphasized the need for prompt approvals, incentives, and a focus on technology transfer and training to advance Malaysia’s capabilities. Anwar also shared positive indicators from a video call with Tesla’s CEO Elon Musk, noting the potential expansion of Tesla’s presence in Malaysia and an increase in supercharging stations.

During the Apec CEO Summit 2023, Anwar reiterated Malaysia’s commitment to clear and consistent investment policies. He stressed the importance of implementing these policies effectively to attract investments, emphasizing the establishment of a proactive one-stop center to facilitate and expedite investment processes and procedures. The substantial investments signal a positive trajectory for Malaysia’s economic growth and technological advancement.