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Business meeting reinforces investments by US cos

28
May '08
A substantial number of American companies have proposed investment plans in Malaysia amounting to RM2.167 billion.

This can be one of the most obvious outcomes of the Malaysian trade and investment mission to the United Stated which started in Detroit on May 13 and ended in New York on May 26.

As many as 500 interested businessmen participated in the seminars which were jointly organized by the Malaysian Industrial Development Authority (MIDA) and Malaysia External Trade Development Corporation (Matrade). Moreover, representatives of state Government and other agencies also made their presence felt at the event.

A total of RM18 million in potential sales and proposed investments of RM2.167 billion were registered during these business meeting that involved about 24 Government officials and 17 private Malaysian companies.

Garments, leather and leather products, chemicals, oil and information technology were among the few important areas in which private and multinational companies of US offered to make investments.

Such overwhelming response from US companies goes to show that Malaysia still remains an attractive destination for foreign investments. This is also because the country has huge resources and labor force that can be adequately manipulated for the procuring considerable profits.

Not to mention, the bilateral trade between the two countries has shown a healthy sign for the past couple of years. US accounts for 13.4 percent of Malaysia's overall trade and in the past five years, the volume of total trade has increased by 33.5 percent to touch US $43.4 billion in 2007.


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