KUALA LUMPUR, Sept 4 — Malaysia approved US investment worth US$5.62 billion in the first half of the year compared with US$113 million the previous year, the government said today, a possible sign of a diversion of US business as a trade row with China drags on.
Economists say Vietnam and Malaysia are likely to be the biggest beneficiaries, though countries such as India are also trying to attract companies such as Apple, Foxconn and Wistron Corp. In the first six months of the year, Malaysia approved US investment proposals worth RM11.69 billion in the manufacturing sector, compared with RM307 million a year earlier, replacing China at the top of the investment list.
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