International trade and industry minister Tengku Zafrul Aziz says that many multinational companies are currently looking at re-shoring and friend-shoring.
The Southeast Asian nation secured approved investments of RM71.4 billion in the first three months of 2023, up 60% from the year-earlier period. A quarter of the firms surveyed with no presence in Malaysia plan to expand there in the next two years, led by mainland China and the US.
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