Malaysia remains top destination for European, US investors
Malaysia remains a top destination for European and U.S. investors even though the country has joined BRICS as a partner country, reported national news agency Bernama.
Kuala Lumpur at night. Photo courtesy of VNA.
The Ministry of Investment, Trade, and Industry (MITI), in a written response published on the parliament’s website, informed that as of December 2024, a total of 56 potential projects with an investment commitment of nearly MYR 20 billion ($4.4 billion) have been identified and are set to be implemented in the country.
It stated that large international companies such as Intel, Amazon Web Services, Oracle, Google, and Plexus continued to commit to investing or increasing their investments in Malaysia, making the country one of the primary destinations for over 600 U.S. companies.
According to the ministry, Malaysia’s involvement in BRICS also opens up broader market access, especially with countries that do not have free trade agreements with Malaysia, such as Russia, Brazil, South Africa, and India.
In 2024, Malaysia’s trade with the U.S. and European countries hit MYR325 billion ($78 billion) and MYR263 billion ($58.9 billion), year-on-year increases of 30% and 4%.
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