KUALA LUMPUR, June 29 (Bernama) -- The Ministry of Investment, Trade and Industry (MITI), together with its agency, the Malaysian Investment Development Authority (MIDA), approved 5,899 manufacturing investment projects worth RM774.4 billion between 2020 and 2025, with the potential to create 502,493 new jobs.
The ministry said that, of the total, 5,087 projects (86.2 per cent), representing investments worth RM587.4 billion, have been realised.
“These projects have also created 416,914 jobs, with nearly 40 per cent of them in management, professional, technical, supervisory and skilled (MTS) positions,” stated MITI on the Parliament website today.
The ministry was responding to Datuk Seri Dr Ahmad Samsuri Mokhtar on the ratio of approved investments to realised investments between 2020 and 2025, the sectors that recorded the widest gap, and the government’s measures to translate investment commitments into the creation of high-quality jobs for Malaysians.
MITI said the largest gap between approved investments and realised projects was more evident among large-scale, capital-intensive projects, which require longer implementation periods and involve more complex technologies.
It said the gap reflects the phased implementation of projects in line with their respective development schedules.
MITI said that, together with MIDA, it continues to implement various strategic measures to ensure incoming investments translate into the creation of high-quality jobs for Malaysians.
These measures include attracting high-value-added investments in sectors such as semiconductors, the digital economy, green technology and aerospace, while strengthening investment facilitation, accelerating project implementation and enhancing human capital development.
“The government also encourages research and development (R&D), automation and innovation to create more high-income jobs and improve national productivity.
“To ensure that the local community benefits from these investments, specific conditions are imposed on the approval of manufacturing licences and high-potential foreign investment projects, including requirements to hire local workers, implement industrial training programmes and collaborate with local universities and research institutions,” it said.
-- BERNAMA
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