NCI approves 5 manufacturing, services projects

The National Committee on Investment (NCI) has approved five manufacturing and services projects worth RM4.6 billion in Penang, Kedah and Pahang.

The approval on Jan 30 was for investments in the electrical and electronics, machinery and equipment as well as automotive industries, with 97.3 per cent of the investments coming from Singapore, Hong Kong and the United States.

The remaining approved investment was from a Malaysian integrated circuit (IC) design company, according to the NCI yesterday.

It said the high value-added project involves IC design for application-specific integrated circuit products for artificial intelligence deep learning and high-performance computing, which upon realisation would create more than 6,000 job opportunities.

NCI is co-chaired by the International Trade and Industry Minister Datuk Darell Leiking and Finance Minister Lim Guan Eng.

“Foreign investors remain active in Malaysia’s manufacturing and services sectors. The investment spending, private consumption and trade will keep the nation’s growth on track.

“To enhance the attractiveness of Malaysia as a preferred investment destination, the ministry and all its agencies will continue to be proactive to accommodate the needs of stakeholders in creating sustainable prosperity for the rakyat,” said Leiking in the statement yesterday.

Malaysia’s investment performance in the manufacturing, services and primary sectors for last year would be announced at the Malaysian Investment Development Authority headquarters on March 3, he added.