The American Malaysian Chamber of Commerce (AMCHAM) has unveiled the findings of its biennial Economic Impact Survey (EIS), shedding light on the significant contributions of U.S. companies to the Malaysian economy. With over 50 years of investment, American firms have played a pivotal role in driving economic growth and fostering human capital development in Malaysia.
The survey, which garnered responses from 81 member companies, underscores the substantial impact of U.S. investments.
Employing a total of 148,778 individuals, of which 89% are Malaysians, these companies have contributed RM 11.7 billion in salaries, while also investing RM1.3 billion towards the country’s EPF and SOCSO, ensuring the future and security of their employees.
In addition to job creation and salary contributions, U.S. companies actively engage in nurturing local talent and supporting Malaysian businesses.
With 76% of respondents establishing internal skills and training programs, and 65% offering fully funded training initiatives, American companies are deeply invested in shaping Malaysia’s human capital landscape.
AMCHAM chairman Antony Lee (pic) said U.S. companies continually seek to develop local talent and source from local companies, keeping supply chains shorter and deepening their resilience. As such, they actively nurture Malaysians to ensure they are equipped with not only technical and knowledge-based skills but also managerial and service-oriented skills, enabling them to be part of U.S. global value chains. These efforts contribute directly to the goals of the Malaysian government, which are to move up the value chain and create high-paying jobs for Malaysians.
Despite challenges such as digitalisation costs and infrastructure limitations, a positive trend towards digitalisation is evident, with 54 out of 81 companies planning to incorporate AI within the next three years.
Moreover, AMCHAM member companies demonstrate a commitment to Research and Development (R&D), with investments exceeding RM1.9 billion.
The survey also highlights the crucial role of U.S. companies in Malaysia’s manufacturing sector, with 57% of manufacturers operationally linked to other ASEAN nations.
Singapore, Thailand, and the Philippines emerge as key hubs for manufacturing activities.
Commenting on the survey, Datuk Sri Mustapa bin Mohamed emphasised the ecosystem-wide impact of U.S. investments on Malaysia’s long-term growth and competitiveness.
Dr Ong Kian Ming echoed similar sentiments, highlighting Malaysia’s attractiveness for American companies and the need for alignment with strategic national plans.
AMCHAM CEO, Siobhan Das, underscored the collaborative efforts between American companies and Malaysia, emphasising the Chamber’s role in facilitating a conducive operating environment.
She stressed the importance of U.S. investments in driving economic growth, job creation, and technological advancement in Malaysia.
The AMCHAM Economic Impact Survey reaffirms the integral role of U.S. companies in Malaysia’s economic landscape, emphasising the mutual benefits derived from continued collaboration and investment.
