Malaysia attracts a total approved investment capital of 132.6 billion RM (approximately 28.4 billion USD) in the six months half of 2023. (Photo: AFP/VNA) The capital flowed into sectors related to services, manufacturing, and processing, involving 2,651 projects and expected to create 51,853 jobs for locals.
According to a press release from the Ministry of Investment, Trade, and Industry (MITI), such investments demonstrated confidence in Malaysia's economy and the services it provides. In the period, Singapore was Malaysia's top source of foreign direct investment (FDI) by injecting a sum of 13.7 billion RM into the nation. It's worth noting that domestic direct investment went up by 58% and accounted for over 52% of the total volume.
MITI Minister Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz said despite a global slowdown in demand and higher interest rates in key markets, Malaysia still attracted a reasonably good amount of approved capital in the first half compared to the same period last year.
The minister noted that as various global supply chains shift to Asia, the ministry’s main goal is to position Malaysia as a regional hub for both international companies and entrepreneurs looking to expand their footprint in Asia./.
VNA
