KUALA LUMPUR, August 6 (Bernama) -- The government will continue to take proactive measures to increase foreign direct investments (FDI) by giving more attention to high-quality investments which can stimulate the economy.
Deputy International Trade and Industry Minister Dr Ong Kian Ming said as a country moving towards developed nation status, focus would be given to high-quality and high-technology investments, as well as reducing the dependency on foreign labour.
Meanwhile, he said only a low level of FDI outflows were recorded since May.
“From May-June, three FDI projects amounting to RM16.4 million from the manufacturing sector were closed, stopped or relocated.
“Based on the value of investments, there were from small-scale companies,” he said, in response to a written question from Datuk Seri Hamzah Zainuddin (BN-Larut) on the amount of FDI outflow since May in the Dewan Rakyat here today.
Ong said among the factors influencing FDI outflows were market uncertainties and contraction in the global economy, which caused investors to restructure their operations and investment strategy.....