U.S. Businesses Discuss Malaysia’s Role in Global Supply Chains, Foreign Investments, and Sustainability Efforts

From November 15-24, the US-ASEAN Business Council (USABC) engaged top Malaysian officials on Malaysia’s economic recovery from the global pandemic, its role in global supply chains, economic policies, and sought to identity ways of deepening levels of transparent process to policymaking as a part of USABC’s annual Malaysia Business Mission. This was the first year the annual business mission was conducted in a hybrid format. The delegation engaged with key ministers and government officials from the UMNO Government that came into office in August this year. This engagement is part of the Council’s continued effort to highlight the commitment of the American business community to Malaysia’s dynamic growth and to support Malaysia’s recovery from the COVID-19 pandemic.  

The virtual mission was co-led by Amb. Michael Michalak, USABC Senior Vice President and Regional Managing Director, and Marc P. Mealy, USABC Senior Vice President for Policy.  With 31 companies, multiple sectors were represented during the mission, including consumer products, energy, financial services, healthcare, information technology, manufacturing and logistics. 

“The US-ASEAN Business Council acknowledges the Malaysian government’s strong efforts to quickly vaccinate its population to support a speedy economic recovery. Our members stand ready to support the government’s efforts and programs in line with the 12th Malaysia Plan and economic recovery goals” said Amb. Michalak. “The government’s focus on policymaking that prioritizes digital transformation and its continued support of growth and investment in the healthcare sector, will ensure Malaysia’s position in regional and global supply chains and also bounce its economy forward. We look forward to further discussions and partnerships in the coming year to support the Malaysian government in COVID-19 Recovery.”

The hybrid business mission was well-timed as it not only allowed the delegation to provide recommendations and offers of support to the government as it works to restore the economy, but also provide input as the government recently finalized the 2022 national budget and released the MYDIGITAL program.  USABC urged the government continue to take a transparent, consultative process to policymaking and to establish clear governance and regulatory frameworks for industries in order for business to rebound and recover.  

To date, the delegation has held meetings with the US Ambassador to Malaysia Brian D. McFeeters, Chair of Parliament Select Committee on Health YB Kelvin Yii, Parliamentarians YB Nurul Izzah Anwar and YB Wong Chen, Minister of Domestic Trade and Consumer Affairs YB Dato’ Sri Alexander Nanta Linggi, CEO of Malaysiakini Premesh Chandran, Managing Director of FMT News Azeem Abu Bakar, Minister of Economic Planning Unit YB Dato Sri Mustapa Mohamed, Opposition Leader Daruk Seri Anwar Ibrahim, Executive Director of APEC Secretariat Tan Sri Datuk Rebecca Fatima Sta Maria, ASEAN-BAC Chairman Tan Sri Munir Majid, FMM Vice President Datuk Noraini Soltan, SME Association National President Mr. Chin See Seong, Malaysia Retailers Association Vice President Datuk Wira Ameer Mydin, Director General of Customs YBhg. Dato’ Sri Abdul Latif, Minister of Health YB Tuan Khairi Jamaluddin, CEO of MDEC Mahadhir Aziz, Department  of Environment Deputy Director General Dr. Norhazni Binti Mat Sari, Minister of Finance YB Senator Tengku Dato’ Sri Zafrul Tengku Abdul Aziz, and the Governor of Bank Negara YBhg. Tan Sri Datuk Nor Shamsiah bt Mohd Yunus.

USABC members companies who joined the 2021 Virtual Malaysia Business Mission were 3M, Abbott, Agoda, Airbnb, Amazon, Apple, Cisco, Citi, Coca-Cola, ConocoPhillips, FedEx, GE, Gilead Sciences, Google, IBM, Intel, Johnson and Johnson, Mastercard, Nike, Novartis, Oracle, Organon, Pfizer, Philip Morris, Qualcomm, Roche, Salesforce, Seagate Technology, UPS, Visa and VMware.


########################################################################################

Since 1984, the US-ASEAN Business Council has been the premier advocacy organization for U.S. corporations operating within the dynamic Association of Southeast Asian Nations (ASEAN). Worldwide, the Council's membership of nearly 170 companies generates almost US$7 trillion in revenue and employs more than 14.5 million people.  Today our members include the largest U.S. companies conducting business in ASEAN and range from newcomers to the region to companies that have been working in Southeast Asia for more than 100 years. The Council has nine offices around the globe, in Washington, DC; New York, NY; Bangkok, Thailand; Hanoi, Vietnam; Jakarta, Indonesia; Kuala Lumpur, Malaysia; Manila, Philippines; Singapore; and Yangon, Myanmar.