Deputy International Trade and Industry Minister of Malaysia Datuk Lim Ban Hong (Photo: malaymail.com) Kuala Lumpur (VNA) – The Malaysian Investment Development Authority (Mida) hasidentified the 23 potential high-profile projects in the manufacturing andservice sectors which have an investment value of 75.4 billion ringgit (about18.5 billion USD), the Star reported.
This foreigninvestment will come from several countries and is targeted to be brought intoMalaysia in 2021, the Malaysian newspaper quoted Deputy International Trade andIndustry Minister Lim Ban Hong as saying.
He added that thetwo sectors attracted the largest investment in the country. From January toSeptember this year, the manufacturing sector contributed the largest amountwith 65.3 billion ringgit, followed by the service sector (42.8 billionringgit) and main industries (1.7 billion ringgit).
Of Malaysia’stotal investment, foreign direct investment made up 38.8 percent or 42.6 billionringgit while 67.2 billion ringgit or 61.2 percent was from local investors, he said.
Lim added that atotal of 2,935 projects were approved in the same period which would helpcreate 64,701 job opportunities.
He said thatseveral measures have been implemented to ensure that the country remains anattractive and competitive destination for foreign investors.
He said that someof the measures were fast-trackapprovals for factory licenses through the Mida's e-ML online portal fornon-sensitive industries which will take two working days for an approval.
A ProjectAcceleration and Coordination Unit (Pacu) was set up under Mida to speed upapproval applications at related agencies for the implementation of investmentprojects, he noted.
Lim added that aone-stop centre was also set up to evaluate and approve applications forbusiness travellers./.
VNA
