KUALA LUMPUR: Malaysia recorded a total of RM109.8bil worth of approved investments in the manufacturing, services and primary sectors for the first nine months of this year, according to the International Trade and Industry Ministry (Miti).
The manufacturing sector contributed RM65.3bil or 59.5%, followed by services (RM42.8bil or 39.0%) and primary sector (RM1.7bil or 1.5%), it said.
“The investments involved 2,935 projects and will create 64,701 job opportunities in Malaysia, ” the ministry said in a statement yesterday.
Of the total investments approved, domestic direct investments (DDI) accounted for 61.2%, or RM67.2bil, while foreign direct investments (FDI) made up the rest.
Miti said the top five sources of approved FDI for the three sectors were China (RM17bil), Singapore (RM8bil), the United States (RM2.8bil), Switzerland (RM2.8bil), and the Netherlands (RM2.4bil).
Senior Minister and Miti minister Datuk Seri Mohamed Azmin Ali said the government, through the Malaysian Investment Development Authority, looks forward to leveraging the competitive incentives in Budget 2021 to scout and attract more investors, both local and foreign, to capitalise on the opportunities in Malaysia. “We are confident that investors will derive value by tapping on Malaysia’s well-established local supporting industry network and talented workforce to undertake high-tech products manufacturing and high value-added services. This is to cater to their clients in the region, in the present and the future, ” he said.On approved projects by state, Miti said Selangor, Sarawak, Sabah, Kuala Lumpur and Penang contributed RM76.8bil, or 69.9%, to the total approved investments for January to September 2020.
In the manufacturing sector, a total of 740 projects worth RM65.3bil were approved in the nine-month period from 669 projects valued at RM56bil in the corresponding period of 2019. — Bernama
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