MY welcomes US$14.7b US tech investments

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Malaysia has welcomed the proposed US$14.7 billion (RM4.29b) investment by US tech giants Google, Microsoft, Enovix Corporation, Amazon Web Services, Abbott Laboratories and Boeing.

In a Facebook post, prime minister Anwar Ibrahim said the matter was discussed during a courtesy call with US secretary of state Anthony Blinken on the sidelines of the 44th and 45th ASEAN Summits yesterday.

The meeting of more than 40 minutes was used to exchange views on regional and international issues that touch the interest of Malaysia and the US, added Anwar.

Don't miss: What does Malaysia need to do to establish itself as the tech hub of Asia?

In addition, Anwar emphasised the importance of the US as one of Malaysia's major trading partners. He said that the investments of US companies are one of the main contributors leading to Malaysia's emergence as a regional high-tech investment hub.

In tandem, the prime minister urged the US to leverage its influence to swiftly implement resolution 2728, a call for immediate ceasefire in Gaza.

Meanwhile, spokesperson Matthew Miller of the US department of state said that secretary Blinken and prime minister Anwar underscored the importance of the U.S.-Malaysia comprehensive partnership at its tenth anniversary and a commitment to strengthening people-to-people, economic, and security ties, in a statement on the department's website.

"The secretary emphasised US support for Malaysia’s upcoming ASEAN chair year and discussed opportunities for increasing cooperation to boost regional stability in support of a free, open, secure, resilient, and prosperous Indo-Pacific region," said Miller.

"The secretary and prime minister further emphasised the critical need for a ceasefire, the release of all hostages, and an urgent influx of humanitarian assistance and launching reconstruction efforts in Gaza," he added.

Earlier in June, another tech giant invested in Malaysia. TikTok owner ByteDance planned to invest in artificial intelligence (AI) and make Malaysia an AI hub for the region with a proposed investment of about RM10 billion.

This is according to investment, trade and industry minister Zafrul Abdul Aziz during his meeting with TikTok vice president Helena Lersch in Singapore last week.

Zafrul added that ByteDance's investment will help Malaysia achieve its target of expanding its digital economy to 22.6% of Malaysia's gross domestic product by 2025.

The minister also noted that ByteDance has developed a data centre at Sedenak Tech Park in Kulai, Johor.

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