RM201.7B INVESTMENTS APPROVED IN 2018
Services sector contributes the bulk with RM103.4b
MALAYSIA approved RM201.7 billion in investments last year, compared with RM200.6 billion in 2017. International Trade and Industry Minister Datuk Darell Leiking said domestic direct investment accounted for 60 per cent, or RM121.2 billion, of the total investment.
He said China, Indonesia, the Netherlands, Japan and the United States were the largest investors in the manufacturing sector last year. The five countries accounted for 76.4 per cent, or RM44.3 billion, of total foreign investments.
Of the RM201.7 billion approved investments, manufacturing sector contributed RM87.4 billion, which was 37.2 per cent higher than RM63.7 billion recorded in 2017.
The Malaysian Investment Development Authority (Mida) approved 4,103 projects amounting to RM103.4 billion in the services sector last year.
The petrochemical industry, with approved investments of RM32.9 billion, contributed the lion’s share to the overall manufacturing sector last year.
A notable project is Sarawak Petchem Sdn Bhd’s Bintulu petrochemical hub.
This is in addition to investments by Pengerang Energy Complex Sdn Bhd in Johor.
Leiking also said the economy was likely to remain on a steady path this year as the country’s macroeconomic fundamentals remained strong despite domestic and external challenges.
This optimism is shared by Bloomberg in its recent analysis of emerging markets, where Malaysia was ranked first due to its growth prospects, current account, sovereign credit ratings and stock and bond valuations.
“The government’s 2019 Budget includes a mixture of stimuli, incentives and safeguards to facilitate business and enhance the nation’s competitiveness,” he said at a media conference here, yesterday.
Last year also marked a significant stage in the country’s automation journey with the launch of the national policy on Industry 4.0.
“The broad strategies and action plans under this framework will contribute to the progressive transformation of industries, boosting Malaysia as a key player on the world stage,” he added.