ID :
181463
Wed, 05/11/2011 - 13:02
Auther :
Shortlink :
https://oananews.org//node/181463
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US INVESTMENTS IN M'SIA TO INCREASE BY 10 PCT THIS YEAR, SAYS MIDA
KUALA LUMPUR, May 11 (Bernama) -- The Malaysian Investment Development Authority (MIDA) expects American investments to increase by 10 per cent this year from RM11.7 billion (US$3.924 billion) in 2010.
Director-General Jalilah Baba said MIDA hoped to secure a number of
major projects worth RM5 billion from American companies soon. (US$1=RM2.99)
"Prime Minister Najib Razak will make the announcement during his visit to the United States (US) later this month," she told reporters at the American-Malaysian Chamber of Commerce (AMCHAM) annual general meeting, here Wednesday.
Jalilah said MIDA is confident of attracting three new investments from American oil and gas companies located in Houston, Texas, the world's oil and gas center.
This is after participating in an oil and gas conference there earlier this month.
"We will get an answer by August," she said.
AMCHAM, president Nicholas S. Zefferys said American companies in Malaysia will continue to play a key role in the country's economic growth.
The American companies are active in the electronics, manufacturing and oil and gas sectors.
On Najib's visit to the US, he said it is a significant step towards encouraging cross investment and trade between the two countries.
The most important impact of Malaysia in the US trade relationship is participation in the ongoing Trans-Pacific Strategic Partnership negotiation.
"The success of this negotiation would be a promising vehicle for Malaysia and the US to further strengthen the close economic and political relationship.
"It will not only benefit companies from both nations but also create more high-level and high paying jobs, moving up the value chain," Zefferys said.
The annual two-way trade between the US and Malaysia amounts to US$40 billion. Malaysia is ranked the 13th largest US trading partner.
Director-General Jalilah Baba said MIDA hoped to secure a number of
major projects worth RM5 billion from American companies soon. (US$1=RM2.99)
"Prime Minister Najib Razak will make the announcement during his visit to the United States (US) later this month," she told reporters at the American-Malaysian Chamber of Commerce (AMCHAM) annual general meeting, here Wednesday.
Jalilah said MIDA is confident of attracting three new investments from American oil and gas companies located in Houston, Texas, the world's oil and gas center.
This is after participating in an oil and gas conference there earlier this month.
"We will get an answer by August," she said.
AMCHAM, president Nicholas S. Zefferys said American companies in Malaysia will continue to play a key role in the country's economic growth.
The American companies are active in the electronics, manufacturing and oil and gas sectors.
On Najib's visit to the US, he said it is a significant step towards encouraging cross investment and trade between the two countries.
The most important impact of Malaysia in the US trade relationship is participation in the ongoing Trans-Pacific Strategic Partnership negotiation.
"The success of this negotiation would be a promising vehicle for Malaysia and the US to further strengthen the close economic and political relationship.
"It will not only benefit companies from both nations but also create more high-level and high paying jobs, moving up the value chain," Zefferys said.
The annual two-way trade between the US and Malaysia amounts to US$40 billion. Malaysia is ranked the 13th largest US trading partner.
