The US Embassy in Kuala Lumpur said US-Malaysia economic relations have created over 312,000 jobs in Malaysia over the last decade. Dave Williams, the Economic Counsellor at the US Embassy in Kuala Lumpur, said American companies have announced over RM200 billion in new investments since 2021, with 72 per cent coming from Fortune 500 companies. “Just this year, Google, Microsoft, Amazon, and Oracle have announced more than US$16 billion (US$1=RM4.34) worth of investments in Malaysia. “These quality investments not only bolster the local economy but also create thousands of jobs for Malaysians,” he said in response to questions posed by Bernama.
He also said that the recent announcements and groundbreaking of new major investments in Malaysia underscores the strong confidence that US companies have in Malaysia as a prime investment destination. “US companies are attracted by Malaysia’s highly skilled workforce, widespread English proficiency, strategic location, and robust network of suppliers and supply chain partners,” he said.
On October 24, Malaysia and the US acknowledged that the development of trade and economic relations is a key aspect of strengthening cooperation between the two countries and welcomed further discussion on trade and agriculture topics. “The US welcomed Malaysia’s briefing on its efforts to increase sustainability through recognition of sustainable certification systems, including for timber and palm oil products. “The countries have also pledged to explore possibilities for cooperation to improve sustainability,” the governments said in a joint statement on the sixth Malaysia-US Senior Officials’ Dialogue recently.
Both countries also highlighted their interest in exploring further cooperation in science and technology by recognising potential synergies in space, biotechnology, agriculture, small and medium enterprise development, capacity-building, healthcare cooperation, and vaccine research cooperation. The US is one of the largest foreign investors in Malaysia, with direct investments totalling US$21.53 billion in 2023.
— Bernama
