Investors remain confident about Malaysia s FDI destination - Najib

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.