Malaysia attracts RM177.8 billion investments in 51.5% jump from last year

Malaysia attracted a massive RM177.8 billion in approved investments in the manufacturing, services and primary sectors from January to September, a 51.5% increase from the same period last year.

The Malaysian Investment Development Authority (Mida) said the investments involve more than 3,000 projects which are expected to generate nearly 80,000 jobs throughout the country.

The manufacturing sector accounted for the largest share of the total investments, attracting RM103.9 billion or 58.4%.

This was followed by the services sector (RM57.8 billion, 32.5%) and the primary sector (RM16.1 billion, 9.1%).

According to Mida, foreign direct investments (FDI) accounted for nearly 60% of the approved investments, valued at RM106.1 billion.

Singapore, China, Austria, Japan and the Netherlands were the top five foreign investment sources, contributing nearly 85.3% or RM90.6 billion of total approved FDIs.

Domestic direct investments (DDI) meanwhile totalled RM71.7 billion or 40.3% of total approved investments.

FDI dominated in the manufacturing sector while DDI took the lead in the services and primary sectors.

Kedah, Sarawak, Kuala Lumpur, Selangor and Pahang contributed RM134.8 billion or 75.8% to total approved investments across the sectors.

The manufacturing sector saw a total of 522 projects worth RM103.9 billion approved from January to September compared to RM64.8 billion in the same period last year, an increase of more than 60%.

In the services sector, meanwhile, 2,473 projects were approved with investments of RM57.8 billion.

The primary sector contributed RM16.1 billion or 9.1% to total approved investments.

International Trade and Industry Minister Mohamed Azmin Ali said the country’s performance was a testament to investors’ strong confidence in Malaysia as a preferred investment hub.

“This in turn further bolsters our role as a prominent site in global companies’ manufacturing networks, enhancing Malaysia’s position as a pioneering, renowned investment destination in the region.”