{"id":13984,"date":"2022-05-21T15:37:09","date_gmt":"2022-05-21T07:37:09","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=13984"},"modified":"2022-05-21T15:37:10","modified_gmt":"2022-05-21T07:37:10","slug":"malaysia-has-attracted-rm16-5-billion-in-new-us-investments-says-azmin","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=13984","title":{"rendered":"Malaysia has attracted RM16.5 billion in new US investments, says Azmin"},"content":{"rendered":"\n

Kuala Lumpur, May 21<\/strong> — Malaysia has attracted new investments worth RM16.5 billion from the US through the recent trade and investment mission led by International Trade and Industry Minister Mohamed Azmin Ali.<\/p>\n\n\n\n

\u201cWe hope that\u00a0all of these commitments to investments can be finalized in the third quarter of this year, creating employment opportunities for the locals,\u201d<\/em> Azmin said during\u00a0a press conference on the trade and investment promotion mission to the US\u00a0today.<\/p>\n\n\n\n

Companies that had committed to investing in Malaysia include\u00a0Insulet, Ferrotec, Amazon Web Services Inc (AWS), and Cue Health. This is on top of investment projects by\u00a0Texas Instruments and Boston Scientific.<\/p>\n\n\n\n

\"investments\"<\/figure><\/div>\n\n\n\n

The 10-day trade and investment mission, which kicked off on May 9, focused on\u00a0innovative and high value-added new sectors, especially the semiconductor industry, digital economy, and medical devices, in line with the National Investment Aspirations which focuses on high-quality investments and\u00a0the latest technology.<\/p>\n\n\n\n

Azmin said the companies had also committed to creating a business ecosystem, ensuring technology transfers as well as the involvement of local industries, especially SMEs in their supply chain.<\/p>\n\n\n\n

\u201cTheir investments will also generate employment opportunities, provide skills training opportunities for local workers, establish collaborations with local universities and help to\u00a0develop\u00a0local vendors,\u201d<\/em> he said.<\/p>\n\n\n\n

The US is currently Malaysia\u2019s third-largest global trade partner\u00a0and export destination, while Malaysia is the US\u2019 17th\u00a0largest trade partner.”<\/p>\n\n\n\n

Azmin said that the total export potential to the US was\u00a0RM1.44 billion.<\/p>\n\n\n\n

He added that despite the challenging global economy and economic uncertainties\u00a0following the outbreak of Covid-19, total trade between the two countries increased by 21.4% year-on-year to RM217.10 billion (US$52.37 billion) in 2021.<\/p>\n\n\n\n

Malaysia\u2019s exports to the US rose by 30.4% to RM142.20 billion (US$34.31 billion), with main exports comprising electrical and electronic (E&E) products and rubber-based products.<\/p>\n\n\n\n

Meanwhile, imports from the US rose by 7.4% to RM74.87 billion (US$18.06 billion), including\u00a0E&E and steel products.<\/p>\n\n\n\n

NMT<\/a> as reported by Bernama<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Kuala Lumpur, May 21 — Malaysia has attracted new investments worth RM16.5 billion from the…<\/p>\n","protected":false},"author":1,"featured_media":13598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,524],"tags":[],"class_list":["post-13984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-nation"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/03\/Screen-Shot-2022-03-29-at-08.29.19.png",828,568,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/03\/Screen-Shot-2022-03-29-at-08.29.19-150x150.png",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/03\/Screen-Shot-2022-03-29-at-08.29.19-300x206.png",300,206,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/03\/Screen-Shot-2022-03-29-at-08.29.19-768x527.png",640,439,true],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/03\/Screen-Shot-2022-03-29-at-08.29.19.png",640,439,false],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/03\/Screen-Shot-2022-03-29-at-08.29.19.png",828,568,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/03\/Screen-Shot-2022-03-29-at-08.29.19.png",828,568,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/03\/Screen-Shot-2022-03-29-at-08.29.19.png",828,568,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/03\/Screen-Shot-2022-03-29-at-08.29.19.png",828,568,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2022\/03\/Screen-Shot-2022-03-29-at-08.29.19.png",692,475,false]},"author_info":{"info":["Editor"]},"category_info":"Economy<\/a> Nation<\/a>","tag_info":"Nation","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/13984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13984"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/13984\/revisions"}],"predecessor-version":[{"id":13985,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/13984\/revisions\/13985"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/13598"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}