Investors remain confident about Malaysia as a foreign direct investment (FDI) destination and Prime Minister Datuk Seri Najib Wednesday urged more American multinationals to set up their forward operating bases for the region in Malaysia and in Greater Kuala Lumpur.
He encouraged American investors to look strongly at Malaysia and Greater KL as their regional hubs for business, innovation and talent, supported by a low-cost, high capabilities and world-class infrastructure value proposition.
"Greater KL is pivotal to your continued expansion in Asia," said Najib, who is also Finance Minister, at the "Global Investment Symposium" at Harvard Club here Wednesday
Malaysia recorded inflows of US$10.16 billion in 2012 and maintained its ranking as the third-largest recipient of FDIs in Asean in the "World Investment Report 2013" by the United Nations Conference on Trade and Development (UNCTAD).
UNCTAD also ranked Malaysia 11th among 20 economies with the highest FDI profitability.
The symposium, which aims to promote Malaysia, specifically Greater Kuala Lumpur, as an incomparable investment proposition and destination to US investors, was well-attended by American businessmen, investors and captains of industry.
He said investors in Malaysia also benefitted from strong investor protection policies, which have been affirmed by Malaysia being ranked fourth on the World Bank's Doing Business 2013 - Investor Protection Index.
Najib said Malaysia has also taken measures to ensure the security of foreign investments.
The US is an important trading partner for Malaysia, registering a total trade of almost US$40 billion in 2012, with bilateral trade favouring Malaysia.
It is also Malaysia's fourth largest trading partner in 2011, the second largest among the ten Asean members in South-East Asia.
"We are hitting the road running as we fully believe that the future of Malaysia, and possibly your future, lies in leveraging the potential of Malaysia and Kuala Lumpur, as the business hub of the Asean Economic Community (AEC) framework, can offer," he said.
The AEC, which is expected to materialise in 2015, will integrate the 10 Asean economies into a coherent single market with a common trade, investment and production base.
Najib said he is here to reinforce the business ties that bind the two nations.
The prime minister also said the next two or so years will be a busy and exciting time for Malaysia as Asean prepares to become a global economic powerhouse.
He said Malaysia's efforts to provide a business-friendly environment have also been affirmed by the World Bank, which ranked Malaysia the 12th best place in the world to conduct business in its "Ease of Doing Business 2013" report.
Najib said the IMD World Competitiveness Centre ranked Malaysia 15th in its World Competitiveness Scoreboard 2013.
In 2012, Malaysia was placed 4th out of 59 economies in terms of business efficiency.
Najib arrived in New York Wednesday morning after ending his working visit to San Francisco to attend the 3rd Global Science and Innovation Advisory Council (GSIAC) meeting from Sept 22 to 24.
On Wednesday (Sept 26), the prime minister is scheduled to deliver a statement at the High-Level Meeting of the General Assembly on Nuclear Disarmament and on Sept 28, Malaysia's statement during the General Debate.
Also on Sept 28, Najib is scheduled to deliver a keynote address at an Asia Society event and meet with key industry players from Asean countries and the US during a luncheon with the US-Asean Business Council and the US Chamber of Commerce.
Najib is accompanied by his wife Datin Seri Rosmah Mansor and several cabinet ministers, including Commuunication and Multimedia Minister Datuk Seri Ahmad Shabery Cheek, during his visit to San Francisco and New York from Sept 22-29.
Bernama
Thu Sep 26 2013
Iran's supreme leader says Hamas leader's death will not halt 'Axis of Resistance'
The "Axis of Resistance", built up with years of Iranian support, includes Hamas, the Lebanese Hezbollah group, the Houthi movement in Yemen, and various Shi'ite groups in Iraq and Syria.
Putin says Russia willing to seek compromises between Iran and Israel
Russia is ready to help seek compromises between arch-foes Israel and Iran, President Vladimir Putin said on Friday, saying these would be difficult but possible.
What proposals will Russia push at the BRICS summit?
The proposal is also to establish a BRICS reinsurance company to allow uninterrupted shipment of goods and key commodities between members.
Indonesia's free meals plan in the spotlight as Prabowo readies for office
Prabowo calls the programme one of the main drivers of economic growth, eventually set to add an estimated 2.5 million jobs.
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.
Israeli strikes kill 33 people in Jabalia refugee camp in Gaza, medics say
Residents of Jabalia said Israeli tanks had reached the heart of the camp after pushing through suburbs and residential districts.
Liam Payne's ex-partner calls for media restraint after 'painful' death
Cheryl Tweedy used her statement to urge the media to remember they had a seven-year-old son, Bear, who could read the reports.
Analysts: Indonesia's strong MoF leadership team to boost investor confidence
Sri Mulyani Indrawati as head of Indonesia's Ministry of Finance is expected to instil confidence among investors.
Biden offers both a carrot and a stick to Israel as his term nears an end
Israel has frequently resisted US advice and has caused political difficulties for the Biden administration.
Putin says BRICS will generate most of global economic growth
Russian President Vladimir Putin will host a summit of the group in the city of Kazan on Oct. 22-24.
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.