KUALA LUMPUR, July 6 — Minister of Investment, Trade and Industry, Datuk Seri Tengku Zafrul Aziz, has warned that Malaysia could face significant negative impacts if BlackRock Inc withdraws its investments. BlackRock holds shares in several multinational companies (MNCs) operating in Malaysia, such as Microsoft, Boeing, Intel, and Texas Instruments, which are crucial for the country’s investment and job creation efforts.
Tengku Zafrul highlighted that these MNCs contribute substantially to the development of various industries and states through investment projects. For instance, Microsoft’s RM32 billion investment has created over 10,000 jobs, while Texas Instruments’ RM13 billion investment has generated 2,000 jobs. He emphasized that a potential withdrawal by BlackRock Inc would negatively affect Malaysia’s investment agenda and economic growth, particularly in key sectors such as the semiconductor industry in Penang and aerospace manufacturing in Kedah.
