US firms invest over 39 million USD in Malaysia despite COVID-19: Amcham
A total of 39 billion USD have been invested by US companies into the Malaysian economy despite challenges posed by the COVID-19 pandemic, the American Malaysian Chamber of Commerce (Amcham) has said.
Amcham members have provided direct support to the Malaysian economy by sourcing nearly 20 billion RM worth of goods and services locally and signing more than 10,000 contracts worth more than 100,000 RM each with local businesses. (Photo: theedgemarkets.com)
Kuala Lumpur (VNA) – A total of 39 billion USD have been invested by US companies into the Malaysian economy despite challenges posed by the COVID-19 pandemic, the American Malaysian Chamber of Commerce (Amcham) has said.
According to Amcham’s 2020/2021 Economic Impact Survey (EIS) of 80 member companies, more than 130,000 people have been employed with 90 percent being locals. They contributed over 100 billion RM (23.8 billion USD) to the country’s export revenue. It also revealed that 85 percent of companies surveyed expect to grow in 2022.
The EIS also highlighted that Amcham members have provided direct support to the Malaysian economy by sourcing nearly 20 billion RM worth of goods and services locally and signing more than 10,000 contracts worth more than 100,000 RM each with local businesses.
Amcham Chairman Antony Lee said the survey underscored the commitment of American firms to helping create a thriving business environment that creates jobs and opportunities for ordinary Malaysians.
Meanwhile, Siobhan Das, Amcham chief executive officer, said the success of its members in Malaysia is particularly visible in the manufacturing, agribusiness, extraction and energy, and service industries.
Malaysia is now a critical node in many globa🦋l supply chains, demonstrating the success of our members in developing local talent and businesses for the global stage, she said, adding that with the recent influx of US investments, Amcham looks forward to the ecosystem expanding and propelling the country to further economic success./.
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Amcham members have provided direct support to the Malaysian economy by sourcing nearly 20 billion RM worth of goods and services locally and signing more than 10,000 contracts worth more than 100,000 RM each with local businesses. (Photo: theedgemarkets.com) 
