KUALA LUMPUR (March 14): Malaysia approved RM201.7 billion worth of investments in the manufacturing, services, and primary sectors last year, up a marginal 0.55% from RM200.6 billion in 2017.
Of this, foreign direct investments (FDI) accounted for 40% or RM80.5 billion while domestic direct investments assumed 60% or RM121.2 billion of the share, according to Ministry of International Trade and Industry (Miti).
Speaking at the Malaysian Investment Development Authority’s (MIDA) annual media conference this afternoon, its minister Datuk Darell Leiking said the ratio of foreign and domestic investments is in line with the government’s aspiration for domestic investments to assume the pivotal role of driving Malaysia’s investment agenda.
Of the total RM201.7 billion, the manufacturing sector contributed RM87.4 billion, up a notable 37.2% from RM63.7 billion in 2017, as new projects attracted higher levels of foreign investments.
The services sector, meanwhile, was the largest contributor to the total approved investments, amounting to RM103.4 billion from 4,103 projects.
The balance of RM10.9 billion was invested in the primary sector. The amount was 12.2% lower compared with RM12.4 billion in 2017, largely due to lower investments in oil and gas exploration activities under the mining subsector.
MIDA is an agency under Miti responsible for the promotion of the manufacturing and services sectors in Malaysia.