Trade mission to US attracts RM6.6b in investments

PETALING JAYA: has attracted a total of RM6.6 billion worth of potential investments from the US, following its trade mission to the country from April 1 to 6, according to the Ministry of International Trade and Industry (Miti).

International Trade and Industry Minister Datuk Darell Leiking (pix) led the trade and investment mission, organised by Malaysian Investment Development Authority, Malaysia External Trade Development Corp and InvestKL.

“The mission was able to generate potential investments worth RM6.6 billion, mainly in key projects within the electrical and electronics, and chemical industries,” Miti said in a statement yesterday.

Covering the cities of Washington, New York, Seattle and San Jose, Darell also held several bilateral discussions with senior US government officials to strengthen trade and economic relationships between the two countries.

A series of high-level meetings were also held with potential in the manufacturing and services sectors such as chemical, electrical, and electronics and aerospace, while the services sector includes tourism, support services for business aviation and centre of excellence for financial services.

There were also specific discussions on potential investments in data centres, while Microsoft Corp and Mimos Bhd – an agency under Miti – had agreed to establish a Centre of Artificial Intelligence for Future Industry in Malaysia.

In conjunction with the mission, a seminar, “Forging Stronger Economic Relationships between Malaysia and the US”, was also organised in San Jose, California which attracted over 150 participants representing the manufacturing and services sectors.

The seminar provided an update on the economic situation and highlighted investment opportunities and potential business cooperation available in Malaysia.

Miti added that Darell had the opportunity to network with successful Malaysian professionals based in Silicon Valley as well as witnessing an exchange of memorandum of understanding on collaboration and development of professional programmes in the areas of artificial intelligence, Internet of Things, robotics, blockchain and fintech.

Source: The Sun Daily

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