NET DIRECT INVESTMENT ABROAD SLIPS TO RM24.9B
Asia remains top DIA destination with RM13.7b, says Statistics Department
MALAYSIA registered lower net direct investment abroad (DIA) of RM24.9 billion last year against RM33.2 billion posted in the previous year, said the Statistics Department yesterday.
Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said last year’s DIA was channelled mainly to the services, mining and quarrying and manufacturing sectors.
The services sector’s investment was mainly in financial and insurance/takaful and real estate activities.
“In terms of regions, Asia was the top destination for M a l a y s i a ’ s D I A f l o w s , c o ntributing half the investments at RM13.7 billion, followed by Americas and Europe,” said Mohd Uzir in a statement, here, yesterday.
For Asia, net DIA flows were mainly to Singapore and Indonesia, while Turkmenistan replaced India as the thirdlargest destination.
Mohd Uzir said the DIA position had been increasing its momentum since 2001 but on a downtrend since 2016 due to lower DIA flows and stood at RM525.2 billion last year.
Since 2010, the hike in crude oil prices had stimulated higher investments in the mining and quarrying sectors and DIA peaked in 2014 with RM53.6 billion.
However, for the subsequent years, due to uncertainty in the global environment and subdued crude oil prices, statistics showed lower DIA investments.