Higher approved investment forecast for full-year 2020

Also giving the investments a boost was the Malaysian Industrial Development Authority’s (Mida) decision to set up the Project Acceleration and Coordination Unit to provide end-to-end facilitation for all projects approved to enable the timely implementation of investments in the country.

KUALA LUMPUR: UOB Malaysia is raising its full-year approved investment forecast for this year to RM138bil after the total investment approvals for January-September surpassed its initial target of RM100bil.

Global Economics & Markets Research senior economist Julia Goh said her new target was about 32% higher than the actual investments approved during the global financial crisis in 2009.