Malaysia is predicted to obtain extra investments going ahead, supported by buyers’ confidence within the Madani Economic system framework and from offshoots from present investments, mentioned Malaysia Semiconductor Business Affiliation (MSIA).
MSIA president Datuk Seri Wong Siew Hai mentioned the investment-friendly strategy practised by the present authorities would appeal to international corporations to enter the Malaysian market.
“We are able to see Prime Minister (Datuk Seri Anwar Ibrahim) working very laborious to draw investments from everywhere in the world, together with China, the US and even (lending his private contact) with Tesla’s Elon Musk. There have been different funding bulletins from European semiconductor companies. Traders will view these authorised investments positively.
“US corporations did broaden its footprint in Malaysia. Now we have corporations like Intel Corp. We even have new corporations coming in. So, buyers are assured about Malaysia however we wish (extra) high quality investments,” he informed Bernama.
US ambassador to Malaysia Brian McFeeters mentioned US corporations made funding pledges totalling RM100 billion in numerous sectors over the past 18 months.
He mentioned these contain vital investments in areas the place the US needs to strengthen its presence, specifically electronics and semiconductor sectors, in addition to knowledge centre section which is an enormous development space.
McFeeters mentioned US investments are coming strongly into Malaysia after discovering that Malaysia is a key a part of the world’s provide chain throughout the COVID-19 pandemic.
“A number of US factories rely straight on one thing made in Malaysia. So we’ve got a mutually useful financial relationship that has been developed to at the present time,” he mentioned.
Funding, Commerce and Business Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz had beforehand mentioned that Malaysia would prioritise enhancing the benefit of doing enterprise within the nation to lure high quality investments.
He mentioned the federal government would proceed to streamline processes and monitor and observe these funding processes intently and in actual time by way of a mission administration and supply unit throughout the ministry (Miti).
In the meantime, Financial institution Muamalat Malaysia Bhd chief economist and social finance head Mohd Afzanizam Abdul Rashid opined that Malaysia has at all times portrayed itself as non-partisan and has been accommodative to bilateral ties.
“In at the moment’s world, threats of deglobalisation are seen to be taking root which may be counterproductive if allowed.
“Due to this fact, forging financial alliances with numerous (nations) ought to signify Malaysia’s dedication to stay open to international direct investments (FDIs),” he mentioned.
Extra importantly, Mohd Afzanizam mentioned investments by international corporations may very well be a catalyst for infrastructure growth in addition to transfers of expertise.
On {the electrical} and electronics (E&E) sector outlook, Wong mentioned trade gamers predict demand to choose up in 2024.
“Everyone seems to be anticipating a pick-up subsequent 12 months however we don’t know when. Some say (it may very well be) early first half of the 12 months, others say second half of the 12 months. We have to observe the pattern,” he mentioned.
Demand fell on the finish of final 12 months because of weaker client demand, spurred by excessive inflation and recession issues. The whole lot slowed down and this continued into this 12 months.
Wong reckoned that demand would stabilise for the remainder of 12 months. — BERNAMA
