BUSINESS

MALAYSIA RECORDS RM225 BLN APPROVED INVESTMENTS IN JAN-SEPT 2023, UP 6.6 PCT -- MIDA

06/12/2023 04:37 PM

KUALA LUMPUR, Dec 6 (Bernama) -- Malaysia has attracted approved investments worth RM225 billion in services, manufacturing, and primary sectors in the January-September 2023 period, up 6.6 per cent from the RM211 billion investments approved in the same period last year.

The Malaysian Investment Development Authority (MIDA) said the services sector accounted for RM117.7 billion, followed by the manufacturing sector at RM99.8 billion and primary sector at RM7.5 billion.

The 3,949 approved investment projects are set to unlock 89,495 new job opportunities, showcasing Malaysia's resilience on the back of prevailing global operational uncertainties across various industries, it said in a statement today.

Foreign direct investment (FDI) accounted for 55.9 per cent, or RM125.7 billion, of the total approved investments, while domestic direct investment (DDI), which surged 45.2 per cent year-on-year, contributed 44.1 per cent or RM99.3 billion.

MIDA said the Netherlands emerged as the leading source of FDI, contributing RM35.0 billion, while other notable sources included Singapore (RM20.4 billion), the United States (RM18.9 billion), China (RM11.6 billion), and Japan (RM11.2 billion).

“This diversity in the investors’ base highlights Malaysia's universal appeal as a strategic hub, particularly for the Asean region,” it said.

Five states which recorded significant investment values are Kuala Lumpur (RM48.9 billion), Penang (RM44.9 billion), Selangor (RM41.6 billion), Kedah (RM22.6 billion) and Johor (RM20.0 billion).

Commenting on the performance, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the growth in approved investments is a testament to Malaysia’s continued attractiveness as an investment destination.

It also reflected to the country’s collaborative whole-of-government and the whole-of-nation efforts in attracting, facilitating and retaining investments, while enhancing the ease of doing business under the Madani Economy framework, he said.

“Investment inflows from countries such as the Netherlands, Singapore, the United States, China, and Japan reflect the type of high-tech, strategic investments that Malaysia is targeting from global players. But this is no time for complacency.

“MITI and its agency, MIDA, will continue to position Malaysia as a highly viable and stable destination to strategically capture more inflows from the redesigning of supply chains in the global investment landscape, in line with our industrial transformation as stipulated in the New Industrial Master Plan 2030,” he said.

MIDA said that as of November 2023, there are a total of 1,428 projects with proposed investments of RM72.3 billion within the agency’s pipeline.

Of these proposed investments, a total of 1,352 projects are from the selected services sector (RM31.8 billion), while 76 projects are from the manufacturing sector (RM40.5 billion), all of which fall under MIDA's purview.

MIDA said it is also actively negotiating a total amount of RM161.6 billion in high-potential investment leads.

-- BERNAMA


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