Malaysia needs to diversify investment sources

Lee calls for an investment facilitation mechanism whereby the relevant ministries and government agencies are coordinated.

PETALING JAYA: Over-reliance on foreign investments, especially those from footloose industries, can backfire on Malaysia as more emerging economies are joining the fray to attract multinational corporations (MNCs).

A total of 78% approved investments in the Malaysian manufacturing sector came from foreign sources last year. In 2021, the share was higher at 92%.