Malaysia remains a prime investment destination for European and US investors, with nearly RM20 billion in potential investments identified as of December 2024. Major tech companies are increasing their investments, even as Malaysia joins BRICS. The country maintains strong trade relations with America and Europe while pursuing new markets. Overall trade performance is robust, with significant increases in trade values reported for 2024.
Malaysia continues to be an attractive investment hub for European and US investors, even after its recent partnership with BRICS. According to the Ministry of Investment, Trade, and Industry (MITI), nearly RM20 billion in investment commitments have been identified in 56 potential projects planned for implementation as of December 2024.
Major global corporations such as Intel, Amazon Web Services, Oracle, Google, and Plexus are not only investing but also increasing their investments in Malaysia. Consequently, Malaysia has solidified its status as a leading destination for over 600 US companies.
Despite becoming a BRICS partner country on January 1, 2025, Malaysia maintains robust trade relations with Europe and the US. This evolving relationship allows Malaysia to leverage diverse economic opportunities from both traditional partners and the emerging BRICS bloc, ensuring a balanced trade agenda.
The Ministry highlighted that engagement with BRICS also paves the way for access to new markets, particularly countries lacking trade agreements with Malaysia, including Russia, Brazil, South Africa, and India. This represents a significant opportunity for growth in Malaysia’s trade and investment sectors, enhancing its global economic standing.
In 2024, Malaysia’s trade with the United States reached RM325 billion, reflecting a 30% increase from the previous year, while trade with European nations increased by 4% to RM263 billion. These figures underscore the strong performance of Malaysia’s trade sector.
Moreover, the BRICS economic alliance, contributing approximately US$30 trillion to the global economy in 2024, offers Malaysia a strategic advantage in international trade. The government aims to bolster its competitiveness and economic growth through the MADANI Economic Framework, supporting comprehensive social and economic development.
In summary, Malaysia’s strategic positioning as a partner in BRICS, alongside its established relationships with European and US investors, solidifies its role as a key player in the global investment landscape. The substantial investment commitments and impressive trade figures illustrate the country’s economic resilience and ongoing potential for growth. The integration into diverse economic networks enhances Malaysia’s trade opportunities and overall competitiveness on the global stage.
Original Source: www.bernama.com
