Amazon.com, Inc. ( AMZN )‘s Amazon Web Services (AWS) plans to invest $6.2 billion (about MYR 29.2 billion) in Malaysia through 2038.

The new AWS Region in Malaysia is expected to contribute around $12.1 billion (MYR 57.3 billion) to the country’s GDP and support over 3,500 full-time equivalent jobs annually through 2038.

Notable AWS customers in Malaysia include Bursa Malaysia, CelcomDigi, GX Bank Berhad, PayNet, Petroliam Nasional Berhad, the Department of Broadcasting Malaysia and Tenaga Nasional Berhad.

Also Read: Amazon Pours ~$1.3B Investment Into French Operations: Report

“The new AWS Region in Malaysia enables organizations across Asia Pacific to unlock the full potential of the world’s most extensive and reliable cloud, helping customers deploy advanced applications with a broad set of AWS technologies like AI and ML,” Prasad Kalyanaraman, vice president of Infrastructure Services at AWS, said.

Tengku Zafrul, Malaysia’s Minister of Investment Trade & Industry (MITI), called it “a significant step” toward building a sustainable economy and ensuring Malaysia “remains competitive on the global stage.”

Bursa Malaysia, the country’s national exchange, has launched the Centralized Sustainability Intelligence (CSI) platform on AWS to aid Malaysia’s shift towards a lower carbon economy.

Datuk Muhamad Umar Swift, CEO at Bursa Malaysia, said the collaboration with AWS gives Malaysian companies and their suppliers “an impetus to standardize ESG reporting and decarbonize their supply chain.”

This year, AWS has been on an expansion spree. In May, AWS planned to invest billions in both the AWS European Sovereign Cloud in Germany through 2040 and in Taiwan over the next 15 years.

AWS had earlier disclosed plan to spend $9 billion on expanding its cloud services in Singapore and a $15 billion investment in Japan to build cloud capacity.

Investors can gain exposure to the stock via ProShares Online Retail ETF ( ONLN ) and Vanguard Consumer Discretion ETF .

Price Action: AMZN shares are up 0.39% at $180.82 premarket at the last check Wednesday.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.