Referring to the recent meeting between Prime Minister Najib Razak and US President Donald Trump, Mustapa said it was wrong to say that the talks had not brought any benefits to Malaysia, when it was Najib who had promised more investments to “strengthen the US economy”.
“Don’t ever have the impression that we got nothing out of this (meeting). Certainly we are interested to sell more to the US as I was there and I met a few companies.
“We are keen to get new investments from America and for those who are already here, we hope they will increase their investments in this country,” Mustapa was quoted as saying by The Edge Financial Daily.
He was asked how Malaysia will benefit from the bilateral trade relationship with the US.
According to Mustapa, many American companies are happy with their existing investments in Malaysia and are also looking to expand their activities here.
“As at June 2017, the US had invested RM70 billion in the Malaysian manufacturing sector alone, with American companies providing 200,000 jobs for Malaysians,” he said.
Mustapa also quoted a study by the US-Asean Business Council, which showed that 63% of US companies operating in Malaysia have a positive business outlook for 2017.
“Despite what President Trump is doing to encourage American companies to do more at home, we find that American companies still consider Malaysia to be an excellent investment destination.
On Sept 12, Najib told Trump in their White House meeting that the EPF had already invested US$7 billion and was now looking to invest a further US$3 to US$4 billion on infrastructure redevelopment in the US.
The prime minister said Khazanah would also be increasing its US$400 million investment in high-tech firms in the US.
He also told Trump that “we are committed to 25 planes of the 737 MAX 10, plus eight 787 Dreamliners. And there is a strong probability that we will add 25 more 737 MAX 10 in the near future and within five years, the deal will be beyond US$10 billion (RM42 billion)”.
Mustapa defended Najib’s commitments, saying foreign investments, especially in the US, have generated more returns for EPF compared with the pension fund’s domestic investments.
He added that EPF has been investing in the US since 2008.
Referring to the US “infrastructure redevelopment”, Mustapa said EPF’s proposed additional investment of US$3 billion to US$4 billion in the US will involve restoring roads, bridges, highways and airports. He said it was part of the US$1 trillion financing required by the US government for the restoration.
Meanwhile, Mustapa also confirmed that AirAsia will be buying aircraft engines from US company, General Electric.
“The deal over the next 10 years will involve buying four engines and includes the maintenance, repair and overhaul (MRO) contract and other related purchases worth US$15 billion,” he said, according to The Edge.
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