Mida eyes more foreign investments

(L-R) Standard Chartered Malaysia MD and CEO Abrar A. Anwar and MIDA's CEO Datuk Azman Mahmud with the MOU agreement they signed, for the purpose of recharging the Malaysian economy.

PETALING JAYA: Malaysia will see a dip in total approved foreign investments this year and it will not match the RM207.9bil achieved in 2019 due to the Covid-19 pandemic.

However, it will rise and go back to historical levels, thanks to the government’s initiative with projects such as Penjana, said Malaysian Investment Authority (Mida) chief executive officer Datuk Azman Mahmud. Penjana is the RM35bil National Economic Recovery Plan announced by the government last Friday.