Malaysia remains attractive investment destination in Asia
KUALA LUMPUR: Malaysia continues to be the investment destination for high-value manufacturing and global services in Asia, the Malaysian Investment Development Authority (Mida) said.
The country remains an attractive investment destination with a favourable environment including the availability of excellent infrastructure, telecommunication services, financial and banking services, supporting industries, skills and trainable workforce, as well market opportunities offered through the 16 Free Trade Agreements that it has signed.
Mida has refuted a recent report by a Singapore daily regarding foreign investors fleeing Malaysia, saying it is incorrect.
“The piece falsely indicates that the United Nations Commission on Trade and Development (UNCTAD) report confirmed what has been spoken of anecdotally, ” it said in a statement yesterday.
Mida stated that it has identified 240 high-profile foreign investment projects including Fortune 500 companies in the manufacturing and services sectors, with a combined potential investment value of RM81.9bil.
“Presently, Mida has also received RM47.7bil worth of potential investments into the country. These projects, once approved, are expected to be implemented within 2021 to 2022, ” it said.
Citing the Department of Statistics Malaysia, it said the total gross Foreign Direct Investment (FDI) inflow to the country for the period of January to September 2020 was valued at RM108.2bil compared with RM102.3bil in the same period in 2019, an increase of 5.8%.
“This is a considerable achievement given the movement control order (MCO) and recovery MCO in the second and third quarter of last year, respectively.”
Mida said the total FDI approved from 2018 to September 2020 was valued at RM206.02bil. — Bernama