Najib: US firms eyeing RM18b investments here
(The Malaysian Insider) – KUALA LUMPUR, May 19 — Datuk Seri Najib Razak has said Malaysia can expect up to US$6 billion (RM18 billion) in investments by US firms over the next three years.
Major US telecommunications firm Motorola is also setting aside RM4 billion for its centre of excellence to be based in Penang, the prime minister said, adding that the company has been a long-time partner in the Malaysian economy.
“This is a big achievement … they are satisfied with the cooperation given by the federal government. They are now involved in the technical system for the Royal Malaysian Police,” Najib was quoted as saying in New York yesterday by state news agency Bernama.
The premier later revealed the investments have been earmarked for high-tech industries such as renewable energy, electronics, oil and gas, and pharmaceuticals, among others.
Najib is currently on a trip to the US, where he is shopping Malaysia’s industries and business opportunities to investors there.
According to him, a number of US firms were also planning to pump RM1 billion into Cyberjaya and possibly creating some 2,000 jobs in the process. Najib did not, however, identify the firms.
The planned US investments announced by the prime minister is a timely boost for Malaysia’s foreign direct investment (FDI) situation, which took a severe dip in recent years before recovering slightly this year.
