UOB Malaysia: Approved investments to rise to RM185b this year

Managing director and country head of wholesale banking, UOB Malaysia Ng Wei Wei said, “Amid the impact of the pandemic on business and supply chains worldwide, it is encouraging to see that Malaysia is still attracting companies from around the world as they expand into Southeast Asia."

KUALA LUMPUR: UOB Malaysia projects approved investments in Malaysia to increase by 13% to RM185bil in 2021, of which close to 40% will be from foreign direct investment (FDI).

In a statement on Wednesday, it said China, Europe and the US are expected to remain among the top sources of FDI, while capital is likely to be channelled mainly into the high-value-added sectors, including electrical and electronics (E&E), chemical, manufacturing and industrial.