KUALA LUMPUR: Malaysia approved RM254.7bil of investments for the first nine months of 2024 (9M24), a steady 10.7% rise from the previous year, reflecting Malaysia’s sustained economic momentum, propelled by the services, manufacturing, and primary sectors, says the Malaysian Investment Development Authority (Mida).
Quoting Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, a Mida statement said this underscores investors’ unwavering confidence in the country’s economic policies and direction. “This 10.7% year-on-year growth and the creation of over 159,000 jobs (involving 4,753 new projects) speak volumes of Malaysia’s strategic frameworks,” he said.
Domestic investments led the way, accounting for 58.1% of the total approved investments, valued at RM148bil, while foreign investors contributed RM106.7bil, or 41.9%. Mida said domestic businesses rose and displayed commendable resilience despite current challenging times.
“This healthy ratio between robust domestic participation and strong foreign interest forms a solid foundation for Malaysia’s future economic growth and resilience,” it added. — Bernama
