US to remain top investor in M'sia

US to remain top investor in M'sia

GEORGE TOWN - The United States is poised to remain as Malaysia's No. 1 foreign investor next year.

US ambassador Joseph Y. Yun said in a dialogue with the media that over the past 12 months, large US corporations such as Darden Restaurants Inc and The Hershey Co had announced plans to invest in Malaysia.

Darden will be pumping in some US$300mil (S$373 million) to join forces with two Malaysian companies to develop the world's first integrated lobster aquaculture park, or iLAP, in Sabah in a US$600mil deal.

Hershey, North America's biggest chocolate maker, meanwhile, has said it would invest US$250mil to build a plant in Malaysia, its biggest investment in Asia.

"Over the past seven months, US investments in Malaysia have been twice as high of the next largest foreign investor in Malaysia.

"US companies in Malaysia that have been operating for the past 40 years have also indicated they are keen to expand, as they are happy with the federal and state governments, labour, the infrastructure and the business environment.

"So, if the investment trend continues, then the United States is expected to maintain its number one spot next year," he said.

Besides electronics firms, US healthcare companies are also keen to invest in Malaysia and share their technological knowhow, according to Yun.

On Malaysian investments in the United States, he said Khazanah Nasional Bhd's office in San Francisco was expected to generate more investment in America from Malaysia.

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