US-Malaysia ties strong, drives continued investment in Malaysia

The US has reportedly expressed confidence in the continued investments of American firms in Malaysia and has attributed its interest in the country’s market potential along with its integrated global trade networks.

According to Edgard D. Kagan, the US ambassador to Malaysia, the enduring economic partnership between the US and Malaysia and the significant job opportunities generated by American companies in the region are important, as reported by Malay Mail.

Don't miss: Huawei and MCMC empower future leaders with digital transformation programme

More specifically, Kagan explained that there have been over RM150 billion worth of foreign direct investments (FDIs) since 2021 and that the US is the top investor in Malaysia, detailed the report.

He also said that the US is proud of helping Malaysia create over 300,00 jobs with its investments and Malaysia has prospered due to its engagement in international trade especially with Malaysia’s participation in the Indo-Pacific Economic Framework (IPEF). Specifically, he emphasised Malaysia’s role in shaping international trade norms and standards. The 14 countries in the IPEF include Australia, Brunei, Fiji, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Thailand, the US and Vietnam.

The US and Malaysia also reportedly enjoy good relations in terms of economic, security ties and people-to-people exchanges. In terms of economic ties, Kagan said that 500 to 700 U.S. companies have invested in Malaysia. Additionally, there are youth exchanges such as the Fullbright programme, and the International Visitor Leadership Programme (IVLP) that help to enhance people-to-people contact, added the report by Malay Mail.

Related articles:
MY looks to attract Microsoft and Google as it works towards becoming a data hub
Malaysia's image internationally has improved, says PM Anwar Ibrahim
Foreign investments unaffected despite Palestine stance, says Anwar Ibrahim