KUALA LUMPUR (Dec 13): A total of 80 attendees from the business and trade communities in New York and New Jersey in the US participated in a trade and investment networking reception organised by the Consulate General of Malaysia in New York as a platform to strengthen economic ties and to offer investment opportunities in Malaysia.

The networking event, hosted in collaboration with the Malaysian Investment Development Authority (Mida) and the Malaysia External Trade Development Corporation (Matrade), attracted representatives from chambers of commerce, government agencies, diplomatic corps, and key players in industries such as advanced manufacturing, renewable energy, and the digital economy.

Among the attendees were prominent US companies such as Bank of America, ThinkEquity, and Ernst and Young.

In a statement on Friday, consul general Amir Farid Abu Hasan said that the US remained a vital partner for the nation, ranking as Malaysia’s third-largest trading partner.

He also pointed out Malaysia's strategic position as a gateway to Southeast Asia.

“In the third quarter of 2024, Malaysia’s gross domestic product (GDP) increased by 5.3% despite global economic uncertainties, while total trade increased by 13.7% year-on-year,” he said.

Amir Farid highlighted the Madani Economy framework to the attendees and Malaysia’s success in attracting over US$57.46 billion (RM254.44 billion) in approved investments in the nine months of 2024 from services, manufacturing, and primary sectors, an 18% increase compared to the same period last year.

“These figures underscore Malaysia’s status as a premier destination for foreign direct investment in advanced manufacturing, renewable energy, and the digital economy,” he said. 

Meanwhile, the Consulate General of Malaysia in New York said it was looking forward to further strengthening ties between Malaysia and the US as both countries commemorated the 10th anniversary of the Malaysia-US Comprehensive Partnership in 2024.

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