Mida eyes 23 projects with a value of Rm75.4bil for 2021

PETALING JAYA: The Malaysian Investment Development Authority (Mida) has identified 23 high-profile foreign investment projects in the manufacturing and services sectors, with a combined potential investment value of Rm75.4bil, that are targeted to be brought into Malaysia for 2021.

Deputy International Trade and Industry Minister Datuk Lim Ban Hong said as of Oct 31, 2020, Mida had evaluated 786 investment projects in the two sectors before bringing them to the National Committee on Investments (NCI) for approval.

“The International Trade and Industry Ministry, through Mida, will continue its endeavour to bring in a high level of investments as in previous years,” he told the Dewan Rakyat yesterday.

He was replying to questions from Datuk Ahmad Nazlan Idris (Bn-jerantut) on the projection for foreign direct investment (FDI) in 2021 and efforts to increase foreign investments in the country

Lim said such a forecast would be guided by several data, including the Rm109.8bil investments approved in the manufacturing, services and primary sectors in the first nine months of this year.

He said the manufacturing sector was the biggest contributor to the approved investment value during that period at Rm65.3bil, followed by the services sector (Rm42.8bil) and primary sector (Rm1.7bil).

Of that, FDI contributed 38.8%, or Rm42.6bil, while the rest comprised domestic investment. They comprised 2,935 projects.