Malaysia Drew Rm139 Bil In Investments In First 9 Months

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Mida says Malaysia continues to be a competitive location for manufacturing projects. (Bernama pic)KUALA LUMPUR: Malaysia attracted a total of RM139.3 billion worth of investments in the manufacturing, services and primary sectors in the first nine months of 2018, up 18% from RM118.1 billion approved in the same period last year
In a statement today, the Malaysian Investment Development Authority (Mida) said the total investments approved in the January-September 2018 period were from 3,243 projects, which are expected to generate 93,379 jobs for the country
“Approved foreign direct investments (FDI) increased by 109.7% to RM64.1 billion in the January-September 2018 period from RM30.5 billion in the same period last year, mainly driven by the manufacturing sector, which recorded a strong increase of 249.4% in the period
“Approved FDI in the primary sector rose by 99.3% which indicated that investor confidence in Malaysia remains high despite the challenging global economic environment,” the statement said
The primary sector includes fishing, farming and mining
“Domestic investments led with RM75.2 billion, contributing 54% to the total approved investments in all three sectors,” it said
Mida said Malaysia continued to be a competitive location for manufacturing projects with a total of 468 projects worth RM59.1 billion approved in the January-September 2018 period, compared with RM34.6 billion involving 463 projects in the corresponding period in 2017, representing an increase of 70.5% in capital investments
“Foreign investments approved in the manufacturing sector recorded a total of RM48.8 billion for January-September 2018 period, a rise of 249.4% from RM13.9 billion in the same period last year
“China accounted for RM15.6 billion, or 32% of total foreign investments, followed by Indonesia (18.4%), the Netherlands (17%), the US (6.3%), Korea (4.9%) and Japan (4.3%),” it added
For the services sector, Mida said approved investments amounted to RM69.9 billion compared with RM74.2 billion recorded in the corresponding period in 2017, consisting of 2,721 projects, which are expected to create 50,896 job opportunities
“Domestic investments made up the largest portion, recording RM60.4 billion or 86.4% of the total approved investments for the services sector during this period. The balance of RM9.5 billion was from foreign sources

“The services sub-sectors that showed an increase in approved investments were healthcare, education, global establishments, real estate, and supporting services,” it added. - FMT

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