The Malaysian Minister of the International Trade and Industry (MITI) Darell Leiking announced in December 2019 that the government has approved four Manufacturing projects worth RM5.4billion (USD 1.3 billion) in the states of Sabah, Johor, Selangor, and Penang, creating over 1,000 job opportunities. The decision was made by the National Committee on Investment (NCI) which is co-chaired by Darell and Malaysian Minister of Finance Lim Guan Eng. The National Committee on Investment (NCI) was established in May 2019 to act as the decision-maker for investment projects received by all Malaysian investment promotion agencies including MIDA, Regional Corridors, Halal Development Corporation (HDC), Malaysia Digital Economy Corporation (MDEC), BioEconomy Corporation and the Ministry of Agriculture.
One of the approved projects was an investment worth MYR 2 billion (USD 491 million) by a multinational glass manufacturer (not disclosed) to produce float glass and photovoltaic functional glass at the Kota Kinabalu Industrial Park in Sabah state. Around 80% of the 1,000 job opportunities will be occupied by Malaysians under this project.
Darell stated that Malaysia recorded MYR 149 billion (USD 36 billion) worth of approved investments in the services, Manufacturing and primary sectors for the first nine months of 2019, which was 4.4% higher than the MYR 142.6 billion (USD 35 billion) approved in the corresponding period during the previous year. The investments involved 4,025 projects and are expected to create more than 90,000 job opportunities. Furthermore, the approved investments for global establishments saw an increase by 185.7% in the similar period.
Approved investments for global establishments saw an increase of 185.7% during the period. The Malaysian Investment Development Authority (MIDA) has also secured 126 projects to make Malaysia the Principal Hubs, regional offices or representative offices. Under the 126 projects, around 884 knowledge-based or highly technical skilled job opportunities will be created.
(Sources: MITI; New Straits Times)
