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Trade mission to the US generate RM6.6b potential investments: MITI

KUALA LUMPUR, April 8 2019 — The trade and investment mission to the United States (US) led by International Trade and Industry Minister, Datuk Darell Leiking, is expected to generate potential investments worth RM6.6 billion.

In a statement today, the Ministry of International Trade and Industry (Miti) said the investments would mainly be in key projects within the electrical and electronics (E&E) as well as chemical industries.

The mission, which was held from April 1-6, 2019, was co-organised by the Malaysian Investment Development Authority (Mida), Malaysia External Trade Development Corporation (Matrade) and InvestKL Corporation.

“Covering the cities of Washington DC, New York, Seattle and San Jose, Darell held several bilateral discussions with senior US government officials to strengthen trade and economic relationships between the two countries,” Miti said.

It said a series of high level meetings were also held with potential US investors in the manufacturing and services sectors, such as chemical, E&E, aerospace, tourism, support services for business aviation, as well as centre of excellence for financial services.

Meanwhile, Miti said during the mission, Darell was also interviewed by several international media agencies, in which he expressed that both the US and China had a global responsibility to resolve their differences amicably, as their actions would impact all economies and the global supply chain. 

“The minister also delivered key messages on investment opportunities in Malaysia,” it said.

Other than that, Miti said specific discussions on potential investments in data centres were also being held during the mission, with Microsoft Corporation and MIMOS Bhd, an agency under Miti, agreeing to establish the Centre of Artificial Intelligence for Future Industry in Malaysia.

In conjunction with the mission, the ministry said a seminar themed “Forging Stronger Economic Relationships between Malaysia and the US” was also organised in San Jose, California, which attracted over 150 participants in the manufacturing and services sectors. 

The seminar provided an update on the current economic situation and highlighted investment opportunities and potential business cooperation available in Malaysia, it added.

“The minister also had the opportunity to network with successful Malaysian professionals based in the Silicon Valley, as well as witnessed the exchange of a Memorandum of Understanding on collaboration and development of professional programmes in the areas of AI, Internet of Things, robotics, blockchain and financial technology,” Miti said. — Bernama
Source: Malay Mail