Malaysia’s Economy is Regaining its Momentum with Total Approved Investments of Rm64.8 Billion in January – June 2020
The Ministry of International Trade and Industry (MITI) and the Malaysian Investment Development Authority (MIDA) just did a media release on the total approved investments for the first half of 2020.
Malaysia recorded a total of RM64.8 billion worth of investments in the manufacturing, services and primary sectors for the first six months of 2020 despite multiple headwinds on the global front. These investments involved 1,725 projects and will create 37,110 employment opportunities in Malaysia. Of the total investments approved, domestic direct investments (DDI) accounted for 69.8 per cent, or RM45.3 billion, while foreign direct investments (FDI) made up the rest of RM19.5 billion.
The manufacturing sector attracted the largest portion of approved investments within the first half of 2020, the services sector follows after and then, the primary sector. The United States of America (RM2.2 billion) was listed as one of the top five sources of FDI for the manufacturing, services and primary sectors.
The Government, through MIDA, has been leading efforts to secure sustainable investments, from both domestic and foreign sources, that will strengthen the Malaysia’s business ecosystem.
Malaysia continues to attract a healthy level of investments in the E&E, M&E, chemical, aerospace and medical devices. The states that recorded the highest total approved investments in the manufacturing sector for the period are Pulau Pinang, Johor, Selangor, (states that AMCHAM is actively engaged with) Terengganu and Sabah.
