US business chamber welcomes M'sia's Q1 economic performance
PETALING JAYA : Malaysia's 4.4% economic growth in the first quarter of 2025 reflects resilience and a stable business environment, according to the American Malaysian Chamber of Commerce (Amcham).
In a statement to Bernama, Amcham CEO Siobhan Das said the US business community continues to see Malaysia as a strategic regional hub, with current momentum supporting a positive investment outlook.
She also emphasised the importance of longstanding US-Malaysia ties, noting that more American investments are expected, alongside growing Malaysian investments in the US.
The US has been Malaysia's third-largest trading partner since 2015, with total trade between the two countries surging 29.9% to RM324.91 billion last year.
Das said that while economic indicators like GDP are useful, long-term investment decisions are driven by Malaysia's global competitiveness and ability to adapt to evolving business models.
'Strong GDP growth boosts confidence, but what matters most to US multinationals is the ease of doing business – streamlined operations, minimal bureaucracy, and clear, consistent regulations,' said Das.
'Flexibility and regulatory simplicity are essential, especially when companies need to adjust production quickly,' she said.
Bank Negara Malaysia (BNM) announced yesterday that the economy grew 4.4% in Q1 2025, supported by strong household spending, a favourable labour market and government policies.
BNM governor Abdul Rasheed Ghaffour said growth was also driven by steady investment and exports, particularly in the electrical and electronic sector and tourism.
Last month, the US announced tariffs on goods imported from some 60 countries, set at varying rates. Malaysia was slapped with a 24% tariff on most of its exports to the US.
The tariffs were subsequently paused for 90 days to allow for trade negotiations. However, a 10% blanket duty remains in place on almost all imports into the US.
On Thursday, investment, trade and industry minister Tengku Zafrul Aziz said discussions between Malaysia and the US regarding the latter's tariffs were progressing well.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
3 hours ago
- Malay Mail
Vingroup awarded first-class labor order for outstanding achievements in developing the national exhibition and convention center
Vietnam's Party General Secretary Tô Lâm presents the First-Class Labor Order to Mr. Phạm Nhật Vượng – Chairman of Vingroup – in recognition of the Group's outstanding achievements, at the National Exhibition and Convention Center in Hanoi, Vietnam. Located in Hanoi, the National Exhibition and Convention Center covers 90 hectares and ranks among the world's top 10 largest exhibition venues. HANOI, VIETNAM - Media OutReach Newswire – 19 August 2025 –The conferment ceremony was part of the Inauguration and Groundbreaking Ceremony of National Projects commemorating the 80th anniversary of Vietnam's National Day (September 2, 1945 – September 2, 2025), held at the inauguration site of the National Exhibition and Convention Center, Tu Lien Bridge area, Dong Anh District, National Exhibition and Convention Center is a state-level key project, ranked among the top 10 largest exhibition centers in the world. With a total area of about 900,000 square meters, it is envisioned to become a premier international destination for global trade fairs and exhibitions, as well as a new symbol of Hanoi's commenced on August 30, 2024, and the site was handed over on June 27, 2025—after just 10 months of construction, 15 months ahead of schedule. This remarkable pace set a new benchmark in Vietnam's construction sector, overcoming major challenges in engineering and executing a massive steel dome structure of unprecedented scale and both investor and general contractor, Vingroup maximized all resources, proactively designed construction plans, coordinated manpower, equipment, and materials, and ensured seamless supply chain management across multiple peak construction periods, the project mobilized hundreds of contractors and about 3,000 workers and engineers, supported by 800–1,000 pieces of heavy machinery sourced from across the country, including 300–500 ton cranes and super-heavy transport vehicles. The site operated at full intensity, 24/7 in three shifts, optimizing every moment to shorten construction time by 60%.While accelerating progress, Vingroup also maintained strict oversight of each component, ensuring safety, quality, and long-term sustainability of the "Receiving the First-Class Labor Order at the inauguration of the National Exhibition and Convention Center is a profound honor and pride for all Vingroup employees. We are committed to continuing our spirit of perseverance and determination to operate the Center successfully, contributing to making Hanoi and Vietnam leading destinations for world-class political, economic, cultural, and social events."At the heart of the Center is the Kim Quy Exhibition Hall, one of the world's largest circular exhibition hall with an area of approximately 130,000 square meters and a central height of 56 by the sacred Golden Turtle God (Kim Quy) of the Co Loa legend, the hall's unique architecture is hailed as a new wonder of the capital. Its engineering posed extraordinary challenges: a steel dome weighing 24,000 tons, assembled from ultra-large steel beams and high-strength bolts using specialized torque-severing methods to ensure quality control and double the standard safety factor. The roof is covered with ultra-light, ultra-durable fiberglass fabric, offering natural translucency and energy efficiency in line with global green building the Kim Quy Exhibition Hall, Vingroup has developed a comprehensive exhibition ecosystem including four outdoor plazas (East, West, South, North), the VinPalace International Convention Center, landscaped green parks and lakes, and large-scale parking facilities. With capacity for hundreds of thousands outdoors and thousands indoors, the Center is not only suited for mega exhibitions but also for large-scale events such as concerts, national festivals, and global technology showcases—meeting the strictest international requirements and redefining Vietnam's MICE (Meetings, Incentives, Conferences, and Exhibitions) of the key drivers behind this construction milestone is the upcoming National Achievements Exhibition – 80 Years of Independence, Freedom, and Happiness, taking place from August 28 to September 5, 2025. For the first time, all provinces, ministries, sectors, and enterprises across Vietnam will gather in a single national-scale exhibition, expected to attract millions of visitors and reignite national accelerated completion of the National Exhibition and Convention Center not only demonstrates Vingroup's strong financial capacity, professional execution, and effective project management, but also affirms its commitment to serving the nation and the strength of Vietnam's private enterprises in this new era of global #Vingroup The issuer is solely responsible for the content of this announcement.
The Sun
3 hours ago
- The Sun
Feasilibity study on nuclear energy to include small modular reactors
PETALING JAYA: The government will conduct a feasibility study on nuclear energy, including small modular reactors (SMR), to assess its potential as a stable base-load power source for regions where renewable deployment faces unique challenges. Depuyy Prime Minister and Energy Transition and Water Transformation Minister Datuk Seri Fadillah Yusof said this study will evaluate waste management strategies to ensure nuclear energy is integrated responsibly into Malaysia's sustainable energy ecosystem. 'We are assessing existing technologies in terms of safety, safeguards, and security to determine what is best for Malaysia. Public engagement and acceptance are critical, as only with their support can this nuclear energy initiative move forward. 'Encouragingly, industry feedback has been very positive, with many urging us to accelerate the nuclear energy process,' he told reporters at the International Green Build Conference 2025 ( (IGBC 2025) today. Fadillah said from a regulatory perspective, the government's focus extends beyond compliance to building the right human capital. This involves not only developing technological expertise but also strengthening enforcement capabilities, which must be seen as a priority, he added. 'Of course, there are international commitments to consider. Malaysia must align with 18 international treaties and agreements – including several with the United States – before we can finalise a decision on nuclear energy. 'Only then can we determine whether nuclear energy will become part of our future energy mix,' Fadillah said. Touching on Sabah's energy demand and nuclear energy potential, Fadillah said the government must assess the preconditions. 'In Sabah, energy resources are limited. The state does not have significant hydro or solar capacity, and while battery storage, biomass, and biogas can play a role, these sources are also limited. Therefore, we need to identify other firm energy options that can provide a reliable base load for Sabah and the wider region.' Fadillah said any decision must be based on meeting key preconditions. This includes securing public acceptance, ensuring regulatory frameworks are firmly established, and addressing all necessary requirements before moving forward. 'The final decision on the exact location for the SMR cannot be made until these preconditions are satisfied. Only after the base framework is finalised can we proceed with the Environmental Impact Assessment and confirm the certainty of location for the SMR,' he added. Apart from nuclear energy, Fadillah said, the government will launch the National Energy Efficiency Action Plan 2026-2035, a comprehensive strategy that will chart initiatives across all sectors to drive energy savings, encompassing both electrical and thermal energy measures. 'Our efforts are firmly anchored in the 13th Malaysia Plan (RMK13), which identifies sustainability and green growth as national priorities. RMK13 outlines specific targets, including increasing renewable energy share in the national mix to 35% by 2025, improving energy efficiency across all sectors, and promoting green building certifications such as GreenRE,' he added. Fadillah said the government recognises that green electricity is a key enabler of future economic growth and development. He nioted that the National Energy Transition Roadmap has set out a pathway to achieve 70% installed renewable energy capacity by 2050. This includes the accelerated deployment of large-scale solar projects, expansion of biomass and biogas utilisation, and exploration of emerging renewable technologies such as hydrogen. 'Petra (Energy Transition and Water Transformation Ministry) is committed to working hand in hand to create a sustainable, resilient, and prosperous Malaysia. Let us seize this opportunity to drive transformative change in the built environment and contribute to a greener, more sustainable world for generations to come,' Fadillah told IGBC 2025 delegates and participants.
The Sun
4 hours ago
- The Sun
Malaysia rules out single regulator for rare earth industry
KUALA LUMPUR: The Ministry of Natural Resources and Environmental Sustainability has ruled out establishing a single entity to regulate Malaysia's rare earth elements industry. Acting Minister Datuk Seri Johari Abdul Ghani cited constitutional provisions and objections from state governments as key reasons for this decision. Several states had raised concerns during engagement sessions, viewing the proposal as an attempt to nationalise state-owned mineral resources. 'Petroleum resources outside state waters are managed differently from land matters, which fall under state jurisdiction,' he told the Dewan Rakyat when winding up the 13th Malaysia Plan debate for his ministry today. He cited the Federal Constitution's Ninth Schedule (State List), which gives states authority over mining permits, leases and licences. Johari also dismissed claims that Malaysia had offered to supply REE, raw or otherwise, exclusively to the United States as leverage in trade tariff talks. 'This was already clarified by the Investment, Trade and Industry Minister (Tengku Datuk Seri Zafrul Abdul Aziz) on Aug 7. The tariff discussions did not involve any commitment to supply REE,' he said. On negotiations with China, Johari said discussions are currently focused on strengthening bilateral cooperation to develop Malaysia's REE industry across the full value chain, including the setting up of processing plants. 'It's still early and China wants to see if our REE can be converted into the downstream products they need. No formal talks are underway regarding any buyback of processed REE,' he said. – Bernama
