APPROVED INVESTMENTS HIT RM80.2B
2,346 projects to generate 60,181 job opportunities, says ministry
MALAYSIA’S approved direct investments in the services, manufacturing and primary sectors in the first half of this year increased 17.7 per cent to RM80.2 billion from RM68.2 billion in the same period last year.
The International Trade and Industry Ministry said investments approved from January to June were for 2,346 projects and would create 60,181 job opportunities.
“Despite rising competition and a challenging external environment, Malaysia remains a competitive investment location for foreign investors,” it said in a statement.
The ministry said foreign investments surged 35.3 per cent to RM26.5 billion in the first half from RM19.6 billion in the same period last year.
The rise in foreign investments is mainly in the manufacturing and primary sectors.
Meanwhile, domestic investments led with RM53.7 billion, contributing 67 per cent to the total approved investments in all three sectors.
They rose 10.5 per cent from RM48.6 billion recorded in the same period last year.
International Trade and Industry Minister Datuk Darell Leiking was confident of stronger economic performance in the future.
“The foreign and local investments have risen by 35.3 and 10.5 per cent, respectively, which shows investors’ confidence in the country.
“Through our efforts to promote transparency and restore investors’ confidence, I am certain the figures will increase even further in the second half of the year,” he said.
Darell said the RM2.84 billion of potential investments that his trade missions to Japan and South Korea secured recently was a testimony of foreign investors’ faith in the new government under Prime Minister Tun Dr Mahathir Mohamad and the country’s investor-friendly policies.
“Despite the United StatesChina trade war, our economy continues to be resilient and with investments in segments that move up the value chain, we can look forward to becoming a knowledge- and skill-based advanced economy,” he said.