KUALA LUMPUR: American hard disk drive manufacturer and data storage company Western Digital will invest an additional RM2.3 billion to expand its presence in Malaysia.
The new investment will take Western Digital’s total investment to almost RM18 billion since establishing its operations in the country in 1973.
The Prime Minister’s Office (PMO), in a statement, said the additional investment was agreed upon during a meeting between Prime Minister Tan Sri Muhyiddin Yassin and Western Digital (Malaysia) Sdn Bhd chairman Datuk Syed Hussian Aljunid today.
The PMO said the new investment would be used to expand the facilities and capacity of Western Digital’s plants in Penang and Sarawak,.
This would benefit the country’s economy and provide employment to more than 2,000 people, it added.
The new investment by Western Digital reflected the government’s ability in managing the economy and bringing back investors’ confidence despite the Covid-19 pandemic, the PMO said.
Muhiyiddin welcomed any company wanting to invest in a high-impact and technology-based industry here, it added.
“The government through the Ministry of International Trade and Industry, Malaysian Investment Development Authority and other related agencies are always committed to attracting investment and convincing investors to invest or make additional investments in Malaysia.
“Western Digital’s additional investment reflects high confidence of foreign investors towards the government in helping investors to expand their investment and operations in the country,” it said.[Source: “Western Digital to spend another RM2.3bil in Malaysia, cumulative investment rise to RM18bil [NSTTV]” published by New Straits Times]