32,000 jobs to be created from FDIs last year

Foreign interests: Chua (left) with Boston Scientific’s vice-president and general manager of Manufacturing and Distribution for Malaysia Dave Mitchell (centre) and its senior vice-president (Asia Pacific) Warren Wang at the opening of Boston Scientific’s operations in Penang. — Bernama

MORE than 32,000 jobs will be created in the manufacturing sector as a result of foreign direct investments (FDIs) last year, says Datuk Chua Tee Yong.

The Deputy International Trade and Industry Minister said 32,223 manufacturing jobs will be created through RM21.6bil in FDIs involving 339 projects approved in 2017.

He said the total FDIs for the manufacturing industry from 2013 to 2017 was RM141bil and involved 1,801 projects.

“A total of 224,434 jobs will be created once the projects reach completion,” he said.

The main investors in the manufacturing industry in Malaysia from 2013 to 2017 were Japan, Singapore, South Korea, the United States and Germany.

Chua was replying to a question by Datuk Liang Teck Meng (BN-Simpang Renggam) on the value of FDIs from 2013 to 2017.

Liang also asked for the Government’s strategies in attracting foreign investments, to which Chua answered that among the steps taken were to work closely with state governments and to liberalise investment policies to encourage more investments.

On another subject, Chua said the International Trade and Industry Ministry always kept a close eye on the trade landscape of China and the United States as both countries had raised import and export tariffs between the two countries.

He was replying to a supplementary question by Tan Sri Abdul Khalid Ibrahim (Independent-Bandar Tun Razak) on how the Government would react to the increase in tariffs between China and the United States.

“From what we read in the media on the increase in tariffs between China and the US, it is something that is worrying as it can impact not just Malaysia but also other countries that are involved in import and export (with the two countries).

“Both China and the US are important markets for us, so we at the ministry are working with our offices in the two countries to moni­tor the developments and to find a solution to ensure Malaysia is not affected,” he said.