MALAYSIA RECORDS RM42.8 BLN APPROVED INVESTMENTS BETWEEN JAN-MARCH 2022 - MIDA

KUALA LUMPUR, June 14 (Bernama) -- – Malaysia has attracted a total of RM42.8 billion (US$10.2 billion) approved investments in the manufacturing, services and primary sectors, involving 910 projects between January and March 2022.

In a statement today, Malaysian Investment Development Authority (MIDA) said foreign direct investments (FDIs) remained the major contributor, at 65 per cent or RM27.8 billion (US$6.6 billion), while investments from domestic sources contributed 35 per cent amounting to RM15 billion (US$3.6 billion).

“The approved investments for this period will create 24,906 new jobs in the country,” the statement said.

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The manufacturing sector continued to assume an important role in driving the country's economic recovery during the period, accounting for more than half (70.1 per cent) of total approved investments of RM30 billion (US$7.1 billion), followed by the services sector at RM12.7 billion (US$3 billion, 29.7 per cent) and the primary sector at RM100 million (US$40.4 million, 0.2 per cent).

“Of the total FDIs approved, Germany dominated with investments totaling RM8.9 billion (US$2.1 billion, 32 per cent), followed by Brunei at RM 5.1 billion (US$1.2 billion, 18.3 per cent), the US RM3.9 billion (US$900 million, 14 per cent), Hong Kong RM3.3 billion (US$ 800 million, 11.9 per cent), and Japan RM3.2 billion (US$800 million, 11.5 per cent),” it said.

For projects approved by state, it said five major states, namely Kedah, Penang, Selangor, Sabah and Johor, contributed RM31.8 billion (US$7.6 billion, 74.3 per cent) of the total investments approved from January to March 2022.

Senior Minister of International Trade and Industry (MITI) Datuk Seri Mohamed Azmin Ali said Malaysia remains an attractive investment destination for global investors with the manufacturing sector maintaining its position as a key pillar of the economy for 2022 generating significant multiplier effects on the nation's growth.

“Today, we are proud to have over 5,000 companies from more than 40 countries that have made Malaysia their location for manufacturing and related services operations,” he said.

He said that Malaysia will continue to focus on high growth and high value-added sectors which offer Malaysians exciting job opportunities.

“Aligned to the 12th Malaysia Plan, Malaysia has been securing new investments that position well with the country’s National Investment Aspirations (NIA) and environmental, social and governance (ESG) principles.

“This will stand us in good stead to capture more economic opportunities. We look forward to seeing more significant growth for the second quarter of 2022,” he added.

-- BERNAMA