( Kuala Lumpur, 16th July 2020 ) According to data from the Malaysian Investment Development Authority (MIDA), the total approved investment in the manufacturing sector, service sector and major sectors in Malaysia in the first quarter reached 37.4 billion ringgit.
Of the total investment in the first quarter, domestic direct investment (DDI) accounted for 26.3 billion ringgit or 70.4%, while foreign direct investment (FDI) accounted for 11.1 billion ringgit or 29.6%. MIDA pointed out that the top 5 foreign direct investment countries are Switzerland (RM2.7 billion), Singapore (RM2.1 billion), the United States (RM2 billion), China (RM1.4 billion) and Japan (RM900 million).
The manufacturing sector has the largest approved investment amount of 25.2 billion ringgit, followed by services (11.9 billion ringgit) and major sectors (300 million ringgit). The investment in the first three months involves 892 projects, which are expected to create 19,100 jobs in Malaysia. The states with the largest amount of approved projects are Sabah, Penang, Selangor, Johor and Kuala Lumpur, with an approved investment of RM30 billion (80.1%).
As of June, MIDA had a total of 726 projects in manufacturing, services and other major sectors, with a total investment of 36.7 billion ringgit. In any case, MIDA said that all economies face challenges in 2020, and Malaysia is no exception. The United Nations Conference on Trade and Development (UNCTAD) predicts that global FDI flows will fall by 40% from RM1.540 billion in 2019.
**Info & Image are taken online
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