KUALA LUMPUR – Malaysia has attracted a total of RM193.7 billion in approved investments in the services, manufacturing, and primary sectors involving 2,786 projects from January to September 2022.
In a statement yesterday, the Malaysian Investment Development Authority (Mida) said the total approved investments are expected to create 98,414 job opportunities in the country.
“This is a 2.5% increase compared to the RM188.9 billion investments approved in the same period last year,” it said.
International Trade and Industry Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz said Malaysia’s success in attracting almost RM194 billion of approved investments in the first nine months of the year is testament to its established standing as a gateway to Asean and an investment destination of choice in Asia.
“Our robust supply chain network, competitive cost structure, simplified business processes, cutting-edge innovation, and technology capabilities, and good talent base are key ingredients in attracting investments and driving sustainable growth in this country.
“Moving forward, the ministry and its agencies will ensure that new investment opportunities will also build the appropriate capacity and talent base in targeted industries to develop the nation’s economy in a sustainable manner,” he said.
Meanwhile, Mida said foreign direct investment (FDI) remained the major contributor at 67.5% or RM130.7 billion, while domestic direct investment contributed 32.5% or RM63 billion.
“It is to be noted that this is a 15% increase compared with the FDI approved in the same period in 2021.
“Of the total investments approved, China dominated foreign investments totalling RM49.2 billion, followed by the United States (RM16.9 billion), the Netherlands (RM16.5 billion), Germany (RM9.2 billion), and Singapore (RM8.7 billion),” it added.
It said five states that recorded significant approved investments include Johor (RM63.9 billion), Kuala Lumpur (RM26.1 billion), Selangor (RM25.7 billion), Sarawak (RM17.6 billion), and Kedah (RM12.1 billion).
Mida said that in this period, the services sector assumed a significant role towards driving the country’s economic recovery, accounting for 58.5% of total approved investments with RM113.3 billion, which exceeded expectations from January to September 2022 with an increase of 60.9% against the same period in 2021.
This was followed by the manufacturing sector at RM64.9 billion or 33.5% and the primary sector at RM15.5 billion or 8%, it said.
Mida chief executive officer Datuk Wira Arham Abdul Rahman said Malaysia enjoys a strong reputation internationally and investors have confidence in investing in the country.
“The nation has a solid foundation to provide opportunities for investors. With its favourable business climate, the country is poised to become the next major economic hub.
“Malaysia offers companies what they need to succeed in the international marketplace by capitalising on its strategic location in the Straits of Malacca, comprehensive industrial ecosystem, dotted with abundant natural resources, and having a young, talented and vibrant population,” he said.
Arham said the government is working aggressively to attract more high-quality, high-impact, and capital-intensive projects in the manufacturing and services sectors, which are expected to contribute to the country’s economic growth.
“The government focuses on the digital economy, energy, and high-value manufacturing activities such as transport technology which include electric vehicles and their ecosystem that will have a significant economic potential and sustainable long-term growth,” he added. – Bernama, December 15, 2022
