The Ministry of Investment, Trade and Industry (MITI) announced that Malaysia has attracted a Foreign Direct Investment (FDI) of MYR 132.6 billion (USD 28.3 billion) in the first half of 2023 (H1 2023), achieving 60.3% of its annual goal. The nation observed a sustained increase in foreign investments, totaling MYR 1.4 billion (USD 298 million) in July 2023.
Malaysia garnered MYR 132.6 billion (USD 28.3 billion) in approved investments across services, manufacturing, and primary sectors from January through June 2023. This was spread over 2,651 projects and is anticipated to generate 51,853 employment opportunities. Singapore emerged as the top investor in Malaysia, contributing MYR 13.7 billion (USD 2.92 billion), trailed by Japan with MYR 9.1 billion (USD 1.92 billion ), the Netherlands at MYR 9 billion (USD 1.92 billion), China committing MYR 8.4 billion (USD 1.79 billion), and the British Virgin Islands at MYR 7.1 billion (USD 1.5 billion).
MITI expects the approved investments to show an increasing trend in the second half of 2023 (H2 2023), with the aim of meeting its annual target. Malaysia’s strong economic foundation, coupled with its reputation for stability, reliability, and impartiality, has positioned the country to attract top-notch investments from diverse sources. The burgeoning digital economy in Southeast Asia, encompassing sectors like fintech, cloud services, cybersecurity, and gaming, also offers prospective opportunities for investment in Malaysia.
(Sources: The Star; Malay Mail)