Malaysia has attracted a total of RM177.8 billion approved investments in the manufacturing, services and primary sectors, involving 3,037 projects in January to September 2021.
This represents an outstanding 51.5 per cent increase compared to the same period last year and is expected to generate 79,899 jobs in the country.
Senior Minister and Minister of International Trade and Industry, Datuk Seri Mohamed Azmin Ali shared that, the country’s stellar performance is indeed a testament to investors’ strong confidence in Malaysia as a preferred investment hub, particularly our conducive business ecosystem in providing high-skilled talents and having strong readiness in advanced technology.
“This, in turn, further bolsters our role as a prominent site in global companies’ manufacturing networks, enhancing Malaysia’s position as a pioneering, renowned investment destination in the region,” he said.
The manufacturing sector accounted for the largest share of the total investments for the period, amounting to RM103.9 billion (58.4%), followed by the services sector with RM57.8 billion (32.5%) and the primary sector with RM16.1 billion (9.1%).
Foreign direct investments (FDI) accounted for nearly 60 per cent of approved investments, valued at RM106.1 billion.
Singapore, China, Austria, Japan and the Netherlands were the top five foreign investment sources contributing to nearly 85.3 per cent or RM90.6 billion of the total approved FDI in the country.
While FDI lead the approved investments in the manufacturing sector investments from local companies dominated in the services and primary sectors. Domestic direct investments (DDI) totaled RM71.7 billion or 40.3 per cent of the total approved investments.
Five states; Kedah, Sarawak, W.P. Kuala Lumpur, Selangor and Pahang contributed RM134.8 billion (75.8%) to the total approved investments in various sectors.
-NIAGATIMES
