Malaysia shows "keen interest" in investments in the US

Malaysia is one of the countries displaying "keen interest" in investments in the US.

Malaysian Trade Commissioner here, Muhd Shahrulmiza Zakaria, said Malaysia has six representatives.

"While the majority of them represented the corporate sector, one was from the banking sector and I represented the Malaysia External Trade Development Corp (Matrade) office here," he said in an interview with Bernama.

Beside Shahrulmiza, Catherine Spillman, the Commercial Counsellor from the US Embassy in Kuala Lumpur, also attended the summit.

"Malaysian companies are interested to invest in the US with a view to tap the US market. The companies are keen to set up a subsidiary or a representation in the US.

"Some appoint a local representative or send a company representative to the US to look after their interests," Shahrulmiza said.

Shahrulmiza said some Malaysian companies were keen to set up a logistics centre to maintain a buffer stock of their products which could be distributed locally instead of having to import on an order-by-order basis which was not viable in the case of large exporting companies.

"Malaysian companies' present strategy is to set up a warehouse or a distribution centre where stocks of imported products can be maintained," he said.

"Three companies – two in rubber production business and one in chemical production – were setting up operations in the US," he said.

He said despite the election year in the US the business community was very optimistic, even though there will be a change of leadership.

"SelectUSA offers a good platform for matchmaking between US and Malaysian companies," he said.

The trade commissioner said e-Commerce will have a significant impact on Malaysia’s exports in the future.

"The company can be located in Malaysia but its exports can take place from anywhere because it is going to take place online.

"Malaysia is also collaborating with online trading portals, including Amazon in the US," he said.

Malaysian food companies will also be participating in the three-day New York Fancy Food Show which kicks off tomorrow.

Although essentially conceived as a regional show, the NYFFS has evolved to become North America's leading food show, attracting buyers and exhibitors from all over the American continent.

"Though we are officially not sponsoring any Malaysian companies this time for the NYFFS, Malaysian brand-name companies will be participating in the show on their own," Shahrulmiza said.

Most popular Malaysian products showcased at this show include biscuits and jellies, sauces, coconut chips, snacks, confectionery, instant spices, etc.