Malaysia investors discouraged by its unstable trade regulations, says US ambassador

WhatsAppWhatsAppFacebookFacebookTwitterTwitterPinterestPinterestRedditRedditGmailGmailShareShare

United States Ambassador Brian McFeeters says that US companies are still showing interest in investing to Penang and Malaysia but because of the country’s confusing regulatory climate, the companies have been discouraged to do so.

He added that even before the Covid-19 pandemic brought about the health protocols, it has been the same case in Malaysia when it comes to its trade regulations and this gave rise to long-term US investors in the country becoming disheartened as the government regulations are unstable.

Related Posts

In a virtual press conference, he said that they find Malaysian regulations difficult to understand and added that the regulatory climate in the country causes anxiety.

Following McFeeter’s virtual meetings with US companies based in Penang and the state’s chief minister Chow Kon Yeow, the press conference has been called.

According to him, Malaysia has been recognized as a good investment destination such that the country’s highly educated workforce and generally English speaking population. However, some companies were turned off because of the instability of its regulations.

He added that there was uncertainty when it comes to the implementation of regulations for investors because of its unpredictability such that new regulations might suddenly emerge and that the way it was implemented were also confusing.

He pointed out that this predated Covid-19 and was not in reference to the additional regulations due to the pandemic.

He stressed that a consultation with a representative body is what’s necessary such that they would be able to make the companies informed as to what was needed and create a dialogue for them in order to prevent any more surprises with more stability.

It has also been asserted by McFreeter that there were consultation sessions between the American Malaysian Chamber of Commerce (Amcham), however, the sessions were not as productive as they have wanted them to be.

He said the industries would prefer these consultation sessions to be more systematic and accountable.

In regards to the interest of the American companies to invest in Malaysia, particularly in Penang, he said Penang has already a large number of US investors like Intel which is a long-standing investor for over 40 years.

He also mentioned that DexCom is having its first factory to be built in Penang next year is already checking out for a possible expansion site.

McFreeter added that there are some other potential American companies who are still showing interest into investing in Penang. On the impact of the Covid-19 pandemic and the strict SOPs imposed on the manufacturing industry, McFeeters said all American companies are fully committed to complying with the SOPs.

Katherine S

1/4 German, 3/4 Malaysian. I write, follow and monitor closely political news happening in Malaysia, and other happening news in the ASEAN region. Newswriter for the best ASEAN news website - The Asian Affairs.

Recent Posts

Who is Nagiko Tono? Why the Japanese Film Industry Plunged into Shock For Her Death?

The popular Japanese actress Nagiko Tono died at 45 and her death has been confirmed today on 17 July 2025.…

July 17, 2025

2026 World Cup Asian Zone Qualifiers: Full Draw and Upcoming Match Schedule Announced!

The fourth round of the AFC (Asian Football Confederation) qualifiers will soon be held in this year which helps the…

July 17, 2025

Pearl of Africa T20 Series 2025 Kicks Off! Here are the Teams & Fixture

Uganda, the host of this foresight event of promoting the competition among the associate nations of Africa which will eventually…

July 17, 2025

Tomorrowland Main Stage Fire: Belgium Festival Faces Major Setback Before Opening Weekend

Tomorrowland, the world-famous music festival in Belgium, was hit by a massive setback after its main stage was burned down…

July 17, 2025

‘The Tyrant’s Chef’ First Poster Out Now! Catch the Streaming Info Here!

The curtains are finally rolled out by tvN on one of the much anticipated rom-com fantasies of the year, ‘The…

July 17, 2025

Paranormal Expert Dan Rivera Dies at 54 During Annabelle Tour

Dan Rivera, a reputable paranormal investigator and a former soldier of the United States Army died on Sunday suddenly at…

July 17, 2025