Malaysia solidifies its status as a premier investment location for European and U.S. investors, with 56 potential projects worth nearly 20 billion MYR identified for 2024. Major firms like Intel and Google continue to increase investments, benefiting from new market access through BRICS. Trade with the U.S. and Europe has significantly grown, marking a positive economic trajectory for the nation.
According to the national news agency Bernama, Malaysia continues to be a highly attractive destination for investors from Europe and the United States, even following its recent partnership with BRICS. The Ministry of Investment, Trade, and Industry (MITI) has disclosed that by December 2024, 56 prospective projects have been identified, with an investment commitment nearing 20 billion MYR (approximately 4.4 billion USD) set for development in Malaysia.
Significantly, leading international firms such as Intel, Amazon Web Services, Oracle, Google, and Plexus are not only upholding their investment commitments but are also increasing their investments in the nation. This trend positions Malaysia as a prime market for over 600 U.S. businesses seeking to invest.
Furthermore, Malaysia’s new role within BRICS is expected to enhance market access, particularly with countries that currently lack free trade agreements with Malaysia, including Russia, Brazil, South Africa, and India.
In 2024, Malaysia’s trade values with the United States and European countries have reached 325 billion MYR (78 billion USD) and 263 billion MYR (58.9 billion USD) respectively, indicating substantial year-on-year growth of 30% and 4%.
In summary, Malaysia remains a leading investment hub for European and U.S. investors despite its new BRICS partnership. With significant investment projects underway and continued commitments from major international companies, Malaysia’s economic outlook appears robust. The expansion of market access through BRICS further enhances its position in the global market, as evidenced by notable trade growth with both the U.S. and Europe.
Original Source: en.vietnamplus.vn
