US E&E companies have invested RM42 billion to date in Malaysia

KUALA LUMPUR: About 24 electrical and electronics (E&E) companies from the United States (US) have to date invested RM42 billion in Malaysia, according to the 2018 Survey of American Investment in E&E Sector, conducted by the American Malaysian Chamber of Commerce (AMCHAM Malaysia).

The investments encompass foreign direct investments, job creation, knowledge transfer and support for local small and medium enterprises (SMEs).

Executive director, Siobhan M Das said after many decades, the E&E sector remains a core focus of US investments in the country.

“Investments in this sector are not only strong and ongoing, but are also of high-value with important economic benefits for the country, beyond the immediate foreign direct investments and job creation,” she told reporters at a press conference yesterday.

Meanwhile, the chairman of AMCHAM’s Malaysian American Electronics Industry (MAEI), Datuk Wong Siew Hai said US companies in the sector are well integrated into the local economy in sourcing RM12 billion worth of goods and services locally in 2017 alone.

“While our survey identifies 80,000 high-skilled jobs created by MAEI members, the actual number of people who derive livelihoods from our members’ investments in Malaysia, is considerably higher,” he added.

According to Wong, currently 69 per cent of the companies are using 4.0 connectivity with 73 per cent intending to make more 4.0 investments.

Among the 24 companies that have a footprint in Malaysia are Agilent Technologies LDA Malaysia Sdn Bhd, Analog Devices Sdn Bhd, Benchmark Electronics (M) Sdn Bhd, Celestica Malaysia Sdn Bhd and Finisar Malaysia Sdn Bhd.

Meanwhile, Siobhan said in realising the important role SMEs play in the Malaysian economy, the chamber of commerce would be conducting more and better engagements to support them, as well as in the transfer of knowledge. — Bernama