Categories: Economy News
      Date: Apr 27, 2012
     Title: US Trade Representative: Malaysia a magnet for investments 

Malaysia is a magnet for US investments and American businessmen are comfortable in this country, says US Trade Representative (USTR), Ron Kirk.

Malaysia is a magnet for US investments and American businessmen are comfortable in this country, says US Trade Representative (USTR), Ron Kirk.

Kirk, who is on a two-day visit to Malaysia, said the Economic Transformation Programme (ETP) being implemented further enhances Malaysia as an attractive destination for investments.

He was informed by businesses with operations here that if they could do this well with the current structured engagement, it would be more dynamic if the regime is fully liberalised, referring to the multilateral Trans Pacific Partnership Free-trade Agreement which is being negotiated.

He noted major expansion of American businesses in Malaysia including in the energy and technology sectors as well as in retail trade.

Kirk, who met Prime Minister Datuk Seri Najib Tun Razak in Putrajaya yesterday, was pleased to note that the involvement of American businesses in just one sector has created 80,000 jobs.

He described Kuala Lumpur as incredible, saying that “Seeing is believing the transformation of the Malaysian economy as well as investment in the people, adding that not many economies affected by the economic slowdown are blessed with structural ability, natural resources and intellectual property.”

Last year, Malaysia attracted RM2.5 billion in investments from the US.

Adapted from NST Business Times 25 April 2012 and USTR website