Over the past 18 months, American corporations have committed to investments totaling RM100 billion in various sectors within Malaysia, with a particular focus on electronics, semiconductors, and data centers.
According to US Ambassador to Malaysia, Brian McFeeters, these investments hold significant importance as they align with the United States’ strategy to bolster its presence in key sectors, including electronics, semiconductors, and the rapidly growing data center industry.
McFeeters, speaking on BernamaTV, emphasized the substantial influx of American investments into Malaysia, underscoring the mutually beneficial relationship between the two countries.
He pointed out that the COVID-19 pandemic had highlighted Malaysia’s pivotal role in the global supply chain, further strengthening the case for these investments.
Additionally, McFeeters noted that US companies investing in Malaysia have gained access to cutting-edge technologies, contributing to the country’s technological advancement.
Furthermore, McFeeters commended Malaysia for its constructive role in fostering economic integration within the ASEAN region. He highlighted Malaysia’s commitment to hosting the upcoming Indo-Pacific Economic Framework negotiation round in October, which will focus on strategies for establishing a sustainable economy driven by renewable energy.
The negotiation round will explore contemporary challenges, such as achieving a clean economy through increased use of renewable energy sources and fortifying the supply chain to prevent future disruptions.
The Malaysian government is focused on establishing a smart grid and aims to raise the share of renewable energy in the total power mix to 31% by 2025, with a further target of 40% by 2035.