Malaysia’s approved investments hit another record high of RM216.5 billion ($66.2 billion) last year, up from RM167.9 billion in 2012, the government said last week.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said a total of 5,669 investment projects were approved last year, and are expected to create some 192,000 jobs, offering more managerial, supervisory and technical positions with higher income to Malaysians, according to the government’s news agency Bernama.
|Industry Minister Datuk Seri Mustapa Mohamed|
About 72.5 percent of last year’s investments were local projects, while the rest were foreign direct investments, the minister said.
“This is in line with the government’s target of reaching a domestic direct investment-to-foreign direct investment ratio of 73:27 by 2020,” he told a press conference on “Malaysia’s Investment Performance 2013,” in Kuala Lumpur.
Mustapa said the record high in last year’s approved investments was fuelled by the services, manufacturing and primary sectors.
Approved investments in the services sector registered RM144.7 billion last year, up from RM122.9 billion in 2012, while investments in the manufacturing sector rose to RM52.1 billion from RM41.1 billion in 2012.
Investments in the primary sector -- mining, agriculture, plantations and commodities -- surged to RM19.7 billion from RM3.8 billion, he said.
“This is a boost of confidence in terms of both foreign and local investments in the country,” said Malaysian Investment Development Authority chief executive officer Datuk Azman Mahmud.
Foreign investors were attracted to Malaysia’s ease of doing business, Azman said, citing the World Bank’s Ease of Doing Business 2013 Report, in which Malaysia rose to sixth place from the 12th spot previously.
“The government’s implementation of fiscal measures and the Economic Transformation Programme have add to the appeal for foreign investors to do business here,” he added.
(From news report)