China becomes largest FDI source for Malaysia in 2020

Illustrative image (Photo: https://themalaysianreserve.com/)

Kuala Lumpur (VNA) – China became the largest source of foreign directinvestments (FDI) for Malaysia in 2020, the Malaysian Investment DevelopmentAuthority (MIDA) said on March 3.

Malaysia recorded a total of 15.85 billion USD worth of FDI in 2020, equivalentto only 39.1 percent of the figure in 2019.

Statistics from MIDA showed that China, Singapore, and the Netherlands were thetop three FDI sources for Malaysia, accounting for more than 50 percent of thetotal approved FDI for the year.

Among the major economic sectors, the manufacturing sector led in attractingFDI investments, recording 13.97 billion USD.

Injecting 4.3 billion USD into Malaysia’s manufacturing, China remained as thetop investor in the sector, and became the largest source of foreigninvestments in the field for five consecutive years./.

VNA