Malaysia Continues to Attract European and US Investors Despite BRICS Partnership

Malaysia has maintained its status as a preferred destination for European and US investors, reporting nearly 20 billion MYR in investment commitments for 56 potential projects by December 2024. Major companies such as Intel and Amazon Web Services are expanding their investments there. Furthermore, Malaysia’s BRICS membership is opening broader market access, contributing to a substantial rise in trade with the US and Europe.

Kuala Lumpur (VNA) – Malaysia remains an attractive destination for investors from Europe and the United States despite its recent partnership with BRICS, according to reports from the national news agency Bernama. The Ministry of Investment, Trade, and Industry (MITI) announced in a parliamentary statement that as of December 2024, 56 potential projects have been identified, with investment commitments totaling approximately 20 billion MYR (4.4 billion USD).

Significant international corporations, including Intel, Amazon Web Services, Oracle, Google, and Plexus, have reaffirmed their commitment to investing or expanding investments in Malaysia. This trend positions Malaysia as a favored location for over 600 US companies seeking to establish or enhance operations within the country.

The ministry further emphasized that Malaysia’s BRICS membership facilitates broader market access, particularly to countries lacking free trade agreements with Malaysia, such as Russia, Brazil, South Africa, and India. In 2024, Malaysia’s trade with the US and European nations reached 325 billion MYR (78 billion USD) and 263 billion MYR (58.9 billion USD), reflecting year-on-year growth of 30% and 4%, respectively.

Malaysia continues to be a premier investment location for European and US investors, driven by strong commitments from major international corporations. The recent engagement with BRICS is expected to enhance Malaysia’s market access while facilitating increased trade. The country’s growing investment landscape and robust trade figures reflect its ongoing appeal to foreign investors.

Original Source: en.vietnamplus.vn