Miti in talks to secure investments worth over RM100 billion
Miti is in active negotiations to seal investments in the form of 426 projects totalling RM107.6 billion. – Miti pic, March 28, 2023.
THE government is actively negotiating to secure 426 potential projects involving aggregate domestic direct investment and foreign direct investment worth RM107.6 billion, the International Trade and Industry Ministry said.It added that the government – through Miti and its agency, the Malaysian Investment Development Authority – has succeeded in scoring FDI commitments via trade missions to several countries.
“This includes the mission to Milan, Italy, on January 20-23, 2023, which obtained investment commitments totalling RM3.25 billion. The mission to Singapore from January 28 to 31 as well as the South Korean mission from March 14 to 17 ,” Miti said in reply to a question from Senator Mohd Apandi Mohamad on the number of mega investors being targeted and the total funds promised by them.
Although the world is currently facing economic uncertainties and geopolitical conflicts, Malaysia remains a competitive FDI destination, it said. The ministry also said among the factors that make Malaysia a preferred investment destination for foreign investors and a main supply chain hub in the region are a conducive business ecosystem comprising aspects such as economic growth, infrastructure development and quality transportation network, investment incentives, telecommunication and utility services, as well as quality and supply of labour. – Bernama, March 28, 2023.
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