Investors upbeat on Malaysia as FDI destination: Najib

Prime Minister Najib at the Harvard Club. - Reuters pic

NEW YORK, Sept 26 — Investors remain confident about Malaysia as a foreign direct investment (FDI) destination despite the declining inflows of FDI into the country, Prime Minister Datuk Seri Najib said yesterday.

He said Malaysia recorded inflows of US$10.16 billion (RM32.6 billion) in 2012 and maintained its ranking as the third-largest recipient of FDIs in ASEAN in the World Investment Report 2013 by the United Nations Conference on Trade and Development (UNCTAD).

UNCTAD also ranked Malaysia 11th among 20 economies with the highest FDI profitability, Najib, who is also Finance Minister, said at the “Global Investment Symposium” at Havard Club New York here yesterday.

The symposium, aimed at promoting Malaysia, specifically Greater Kuala Lumpur, as an investment proposition and destination for US investors, was well attended by American businessmen, investors and captains of industry.

Najib said the 17 per cent rate of return recorded by Malaysia was testimony that Malaysia was profitable for businesses.

He said investors in Malaysia also benefited from investor protection policies, affirmed in Malaysia ranking fourth on the World Bank’s Doing Business 2013 — Investor Protection Index.

Malaysia had also taken measures to ensure the security of foreign investments, by signing investment guarantee agreements with 58 countries to protect foreign companies from nationalisation and expropriation, and a host of other possibilities.

“In light of all the above, I strongly encourage you to look at Greater KL as your regional hub for business, innovation and talent, supported by a low-cost, high-capability and world-class infrastructure value proposition,” he said.

“Make no mistake, Greater KL is pivotal to your continued expansion in Asia.”

The Prime Minister said he looked forward to welcoming more American multinationals to Kuala Lumpur to set up their forward operating base for the region.

The United States is an important trading partner for Malaysia, registering total trade of almost US$40 billion in 2012, with bilateral trade favouring Malaysia.

The US was Malaysia’s fourth-largest trading partner in 2011, the second-largest among the 10 ASEAN members in Southeast Asia. — Bernama -

(Source: http://www.themalaymailonline.com)