KUALA LUMPUR | Malaysia has attracted a total of RM132.6 billion (US$28.3 billion) worth of approved investments from January to June, says Malaysian Investment Development Authority (Mida).
These investments in the services (RM82.4 billion), manufacturing (RM44.9 billion) and primary sectors (RM5.3 billion) involve 2,651 projects and are expected to create 51,853 job opportunities.
According to Mida, domestic direct investments (DDI) accounted for a substantial 52.2% or RM69.3 billion of the total approved investments, while foreign direct investments (FDI) contributed 47.8% or RM63.3 billion.
The top five sources of FDI are Singapore (RM13.7 billion), Japan (RM9.1 billion), the Netherlands (RM9.0 billion), China (RM8.4 billion) and the British Virgin Islands (RM7.1 billion).
Meanwhile, the top five states that have recorded significant investment value to the total approved investments are Kuala Lumpur (RM31.7 billion), Selangor (RM29.7 billion), Kedah (RM14.6 billion), Johor (RM14.2 billion) and Sabah (RM9.0 billion).
Mida said the 2,651 projects approved from these investments represent an increase of 34.8% compared to the first six months of 2022.
“The investments are a vote of confidence in Malaysia’s economy, and its offerings to investors include a government that supports and develops pro-business policies, and continuously enhances the ease of doing business in Malaysia,” it said in a statement.
It also credited the country’s growing innovation capabilities, including being a trusted hub for supply chain, capital and talent, as well as flows of goods and data, for its success in attracting such a huge sum of investments.
Investment, trade and industry minister Tengku Zafrul Aziz praised Malaysia for its success in attracting the investments despite the global demand slowdown and a higher interest rate environment in key markets.
“With a stronger growth expected in the second half (of the year), I am confident we will be able to achieve our target for this year,” he said in the same statement.
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