KUALA LUMPUR: Malaysia’s record achievement in attracting foreign direct investment (FDI) underscores its growing prominence as a key economic player within the ASEAN region.
Prime Minister Datuk Seri Anwar Ibrahim has described ASEAN as a “vital trade platform,” offering “simplified access to ten markets in Southeast Asia”, according to Forbes in an article released today.
Anwar, who is also the Finance Minister, recently sat down with Forbes to discuss how the country’s resources and regional connections can benefit companies seeking to establish a presence in the region.
During the interview, the Prime Minister also highlighted the country’s central role within the bloc, emphasising actions to streamline trade flows and reduce bureaucratic hurdles to attract foreign investment.
He also explained Malaysia’s strategic geographic position, which enables broader trade opportunities with non-ASEAN partners, including Australia and India.
Apart from that, the Prime Minister also emphasised trade facilitation and economic partnerships, which reinforces Malaysia’s regional relevance.
The article also pointed out that by integrating Malaysia into a larger regional strategy, companies can unlock its potential as a gateway to Southeast Asia while navigating the complexities of an increasingly interconnected global economy. Nevertheless, it said businesses should prioritise analytical evaluations of Malaysia’s policies and market conditions rather than rely solely on government policies.
Within this dynamic regional landscape, the article said Malaysia exemplifies ASEAN’s economic appeal, attracting a record US$74 billion in approved FDIs in 2023 - the highest in its history.
By mid-2024, the article noted that Malaysia had already secured an additional US$36 billion, further cementing its pivotal role within ASEAN and highlighting the region’s attractiveness to global investors.
