The hard disk drive manufacturer Western Digital has committed to increasing its investments in Malaysia by MYR 2.3 billion (USD 566.3 million) to boost its production capacity in Penang and Sarawak. This raises Western Digital’s total investment in Malaysia to almost MYR 18 billion (USD 4.4 billion).
The Western Digital group’s commitment was agreed upon during a meeting between Malaysian Prime Minister Tan Sri Muhyiddin Yassin and Western Digital group chairman Datuk Dr. Syed Hussian Aljunid.
According to the Prime Minister’s Office (PMO), the additional investment will benefit the nation’s economy, creating over 2,000 new jobs. The PMO also noted that the Prime Minister welcomes companies that are interested in investing in high-impact technology-based industries in Malaysia.
“The government, through the Ministry of International Trade and Industry (MITI), Malaysian Investment Development Authority (MIDA) and other related agencies continue to be committed to attracting investment and convincing investors to invest or make additional investment in Malaysia”.
In 2019, Western Digital Malaysia’s exports were valued at MYR 18 billion (USD 4.4 billion).
(Sources: Prime Minister’s Office of Malaysia; The Edge Markets)