Malaysia gained new economic growth with RM306.5 billion worth of approved investments in the manufacturing, services and primary sectors in 2021.
The country remained an attractive investment destination for global and regional business expansion as total Foreign Direct Investment (FDI) and Domestic Direct Investment (DDI) numbers exceeded expectations with stellar performance in 2021, increasing to 83.1 per cent from the achievement attained 2020.
“Our robust business ecosystem has enabled us to secure strategic investments and forge new trade relationships placing us on a positive trajectory to propel our economy to greater heights as well as expedite efforts towards inclusive socio-economic growth,” said Senior Minister and Minister of International Trade and Industry (MITI), Datuk Seri Mohamed Azmin Ali, at the MIDA’s Annual Media Conference (AMC) 2022.
The Senior Minister also iterated that the recent FDI’s stellar performance accounted for nearly 68.1 per cent of approved investments, valued at RM208.6 billion compared to RM64.2 billion in 2020 which is an increase of 224.9 per cent, while DDI totalled RM97.9 billion.
The DDI complemented FDI performance, making up 31.9 per cent of the total investment value. The manufacturing sector led the way for total investments approved in 2021, recording RM195.1 billion, followed by the services sector RM94.1 billion and the primary sector with RM17.3 billion.
The Netherlands (RM78 billion), Singapore (RM47.3 billion), People’s Republic of China (PRC) (RM31.3 billion), Austria (RM18.9 billion) and Japan (RM9.9 billion) accounted for 88.9 per cent of total FDI approved in the manufacturing, services and primary sectors.
Pulau Pinang (RM83.5 billion) recorded the highest investments approved last year, followed by Kedah (RM68.3 billion), Kuala Lumpur (RM37.7 billion), Selangor (RM28.8 billion) and Sarawak (RM25.7 billion). These five states contributed 79.6 per cent of the total approved investments for 2021.
-NIAGATIMES
