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FRIDAY | APR 24, 2026

Malaysia still an ‘untold story’ for global investors: Bank of America

PETALING Malaysia’s investment story remains under appreciated globally despite strong fundamentals and rising investor interest, with more room to attract capital, particularly from mid-sized international firms. Bank of America country executive for Malaysia Gautam Puntambekar said investor sentiment towards the country continues to be positive, supported by economic resilience, sectoral diversity and a stable policy environment. “Malaysia offers a plethora of investment opportunities across sectors, from green energy to semiconductors, manufacturing and agriculture,” he said in an exclusive interview with SunBiz . Puntambekar said that while multinational corporations are already familiar with Malaysia, the bigger opportunity lies in attracting mid market companies, particularly those that form part of global supply chains. “The Fortune 500 companies already know Malaysia. The real opportunity is the mid-market seg ment, because what is considered mid-sized in the US would be relatively large here.” He added that these companies play a crucial role in building out supply chain ecosystems, which could further strengthen Malaysia’s investment appeal. Malaysia has recorded more than RM500 billion in approved invest ments since 2023, reflecting sus tained foreign and domestic interest. Puntambekar said this momentum Ű BY DEEPALAKSHMI MANICKAM sunbiz@thesundaily.com JAYA: PETALING JAYA: Malaysia’s digital investment surge is widening the talent gap, with more than RM342 billion in approved investments between 2022 and 2025 expected to generate over 114,000 jobs, most of which require specialised, high-level skills. Human Resources Ministry secretary-general Datuk Azman Mohd Yusof said about 97% of these roles are knowledge-based, highlighting the need for a skilled workforce to support the country’s digital growth. “While investments and oppor tunities are expanding at a pace, talent development must keep up, and in many cases move faster, to avoid bottlenecks in Malaysia’s digital economy ambitions. From the perspective of the Ministry of Human Resources, this is a national priority,“ he said. Ű BY HAYATUN RAZAK sunbiz@thesundaily.com

o While multinational corporations are already familiar with the country, the bigger opportunity lies in attracting mid-market companies, says country executive

for higher-value roles is expected to rise further. To address the gap, he said, the government is strengthening Technical and Vocational Education and Training (TVET) under the National TVET Policy 2030, with a focus on industry alignment and global standards. It is also expanding certification based training, alongside upskilling and reskilling programmes to support workers across all career stages. “As industries evolve, so too must our workforce. Continuous learning is no longer optional; it is essential,“ Azman said. He added that closer collaboration among government, industry, aca demia and professional bodies is critical to aligning skills development with market needs. In this context, Malaysia will host regional ICT leaders at the BICSI Southeast Asia Malaysia Conference and Exhibition 2026 to strengthen its position as a regional digital infra Puntambekar stressed that foreign exchange volatility should not be a primary concern for investors, provided risks are properly managed. “Foreign exchange should be an incidental part of business. Com panies should hedge their exposures to ensure certainty in margins, especially in a volatile environment.” He added that while the ringgit is not about the country itself, but more about the broader geopolitical environment,” he said. Large-scale investments, often running into hundreds of millions of dollars, require long-term certainty, prompting companies to take a more cautious approach amid global volatility, he said. At the same time, shifting cor porate strategies are creating new opportunities within the financial sector. Puntambekar observed that some multinational companies are consolidating liquidity at their global headquarters, which could lead to increased reliance on local financing for expansion in Malaysia. “This creates an opportunity for banks, as companies may look to draw down loans locally rather than rely on intercompany funding,” he said. On currency movements,

Azman’s speech at the soft launch of the BICSI Southeast Asia Malaysia Conference and Exhibition 2026 was read out by Human Resources Ministry senior principal assistant secretary, international division, Mohd Azmi Isa. Azman said demand is rising for skills in artificial intelligence, data infrastructure, cybersecurity and advanced information and communi cation technology (ICT) systems, which are becoming core across industries. “This presents a clear and immediate challenge. Building a future-ready workforce is not about numbers alone, but equipping Malaysians with the right skills, certifications and exposure.” The pressure comes as the ICT sector already accounts for RM451.3 billion, or 23.4% of the economy, employing more than 1.25 million people, according to the Department of Statistics Malaysia. As digitalisation deepens, demand is structural strengths, including strong domestic consumption, a well-developed elec trical and electronics (E&E) sector, and the country’s relative insulation from natural disasters. “Domestic demand is strong, and inflation remains fairly contained. The E&E sector continues to perform, and these factors collectively reinforce Malaysia’s resilience.” Puntambekar emphasised the importance of viewing Malaysia as a single, integrated investment desti nation rather than as individual states competing for capital. “Each state offers distinct strengths: Kuala Lumpur and Selangor as financial hubs, Penang for advanced manufacturing and semiconductors, Johor with its proximity to Singapore and East Malaysia for green energy and natural resources,” he explained. “This allows investors to build their presence across multiple segments within one country.” On policy support, Puntambekar said initiatives such as the New Industrial Master Plan 2030 are helping to strengthen Malaysia’s positioning, although global uncer tainties continue to influence the timing of investment decisions. “Investor confidence in Malaysia is high. The hesitation we are seeing underpinned by

What is considered mid-sized in the US would be relatively large in Malaysia, says Puntambekar.

then industry standards while ensuring a consistent, high-quality talent pool aligned with evolving technological needs. “Closer collaboration between industry players, training insti tutions and policymakers was also crucial to ensure skills development remains aligned with market needs, parti-cularly in addressing skills mismatch and supporting work force mobility.” BICSI Southeast Asia executive chair Dr Garies Chong said the organisation is focused on raising industry standards, developing a skilled talent pool, and strengthening regional collaboration. The event is supported by Malaysia Digital Economy Corporation, Malaysian Technology Development Corporation, Invest Selangor, Selangor Information Technology and Digital Economy Corporation and Cyberview, alongside industry players and global technology firms. “Malaysia has the infrastructure, regulatory clarity and talent base to become a stronger financial centre. It is already a leader in Islamic finance, and there is potential to expand further,” he said. He added that Bank Negara Malaysia’s consistent policy direction has bolstered investor confidence by providing a stable interest-rate envi ronment. While challenges remain, parti cularly in navigating global uncer tainties, Puntambekar maintained that Malaysia’s long-term prospects remain intact. “Malaysia is still an untold story. There is a lot more that can be done to showcase its strengths to global investors.”

structure hub. The conference, scheduled for July 21 and 22 at Sunway Resort Hotel, will focus on advancing information and communications technology (ICT) infrastructure in an increasingly artificial intelligence-driven landscape. The conference is organised by Tecnoviq Learning Academy, an affiliate of BICSI Southeast Asia, the global authority in ICT standards and professional certification. Azman highlighted that the involvement of international bodies such as BICSI would help strengthen Malaysia’s talent development eco system by exposing local pro fessionals to globally recognised benchmarks. “This alignment supports the Dasar TVET Negara 2030 , which emphasises industry-driven training and continuous upskilling.” He said the adoption of inter nationally recognised certifications, such as BICSI, and structured training pathways will certainly help streng has been among the better-per forming currencies in the region, its trajectory must be balanced against Malaysia’s export-oriented economy. Bank of America expects Malaysia’s gross domestic product to grow 4.7% in 2026, with downside risks, while inflation is projected at 1.7% with an upside bias. The ringgit is forecast to streng then towards RM3.95 against the US dollar by the end of 2026, although the bank is currently reviewing these estimates. Looking ahead, Puntambekar believes Malaysia is well-positioned to play a larger role within Asean’s financial landscape, potentially emer ging as a regional capital deployer.

Malaysia’s digital investment boom widening talent gap, says ministry