KUALA LUMPUR: Malaysia attracted a total of RM201.7 billion worth of investments in the manufacturing, services and primary sectors in 2018, up 0.55% from RM200.6 billion approved in 2017.
In the first half of 2018, investments approved were valued at RM86.1 billion, while a total of RM115.6 billion investments were approved in the second half of the year.
The petroleum products including petrochemicals industry with approved investments of RM32.9 billion contributed the lion share to the overall performance in the manufacturing sector.
“A notable project in this industry is Sarawak Petchem which is part of the Sarawak state government initiative to develop Bintulu as a petrochemical hub,” International Trade and Industry Minister Datuk Darell Leiking said at the ministry’s annual media conference 2019 here today.
This is in addition to investments by Pengerang Energy Complex and Petronas Chemicals Isononanol that will be located in Johor.
Other industries with high level of approved investments include basic metal products, electrical and electronic products, chemicals and chemical products, as well as machinery and equipment.
Foreign direct investments (FDIs) in 2018 increased 47.8% to RM80.5 billion from RM54.4 billion in 2017, and accounted for almost 40% of the approved investments.
Meanwhile, domestic direct investments (DDI) assuming 60.1% of the share at RM121.2 billion.
This year, Darell said Malaysian economy is likely to remain on a steady path this year as the country’s macroeconomic fundamentals remain strong despite domestic and external challenges.
“Miti and Mida trust that with the existing policies in place, Malaysia will continue to spark confidence in investors and business owners, and attract more quality investments this year.
“We look forward to the realisation of these projects and many more towards a dynamic economy for Malaysia,” he added.
As to date, Mida has 399 manufacturing and services projects with investments totaling RM23.7 billion in the pipeline.
