US Firms Invest Over RM165bil In Malaysia

According to the EIS, 85% of businesses intend to grow in the coming year.

US Firms Invest Over RM165bil In Malaysia
Photo by BERNAMA

Despite the challenges provided by the Covid-19 outbreak, the American Malaysian Chamber of Commerce (AMCHAM) reported that American corporations have invested a total of RM165 billion in the Malaysian economy, which contribute to the country's expanding global economic success. According to the 2020/21 Economic Impact Survey (EIS) of 80 AMCHAM member businesses, nearly 130,000 people were employed, with 90% of them being local employees. More than RM100 billion was contributed to the country's export revenues as a result of this.

“AMCHAM members' commitment has integrated many local companies into American supply chains around the world, supporting a strategy of developing local for global. I’m particularly pleased about the positive economic outlook that our members have for the national economy over the coming 12 months,” said the Chairman of ACHAM, Antony Lee.

He also stated that the survey demonstrates American businesses' commitment to assist the creation of a successful business ecosystem that provides jobs and opportunities for regular Malaysians. The survey also revealed that AMCHAM members have contributed directly to the Malaysian economy by procuring about RM20 billion worth of products and services locally and signing approximately 10,000 contracts worth RM100,000 each with Malaysian enterprises. AMCHAM's chief executive officer, Siobhan Das, said the manufacturing, agribusiness, mining and energy, as well as service industries, are particularly successful in Malaysia.

"Malaysia is now a critical node in many global supply chains demonstrating the success of our members in developing local talent and businesses for the global stage, and with the recent influx of US investments, we look forward to the ecosystem expanding and propelling the country to further economic success. By working together, we see a bright, collaborative future for quality investments, rising innovation, talent development, and sustainable supply chains," she said.