KUALA LUMPUR – The Malaysian Investment Development Authority (MIDA) has identified 23 high-profile foreign investment projects in the manufacturing and services sectors, with a combined potential investment value of RM75.4 billion, targeted to be brought into Malaysia next year.
Deputy International Trade and Industry Minister Datuk Lim Ban Hong said, as of October 31, MIDA has evaluated 786 investment projects in the two sectors to bring to the National Committee on Investments (NCI) for approval.
“The International Trade and Industry Ministry, through MIDA, will continue its endeavour to bring in a high level of investments as in previous years,” he told the Dewan Rakyat today.
He was replying to questions from Datuk Ahmad Nazlan Idris (BN-Jerantut) on the projection for foreign direct investment (FDI) next year and efforts to increase them.
Lim said the forecast is guided by data, including the RM109.8 billion investments approved in the manufacturing, services and primary sectors in the first nine months of this year.
He said the manufacturing sector is the biggest contributor to approved investment value during that period at RM65.3 billion, followed by the services sector (RM42.8 billion) and primary sector (RM1.7 billion).
Of that, FDI contributed 38.8%, or RM42.6 billion, while the rest comprised domestic investment.
He said the approved investments comprised 2,935 projects expected to create 64,701 job opportunities. – Bernama, November 30, 2020
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