KUALA LUMPUR, Sept 17 — The Ministry of Investment, Trade and Industry (Miti) expects approved investment to record stronger growth in the second half of 2023 (H2 2023), on track...
KUALA LUMPUR, Sept 17 — The Ministry of Investment, Trade and Industry expects approved investment to record stronger growth in the second half of 2023 , on track to hit its annual target, after achieving RM132.6 billion worth of approved investment in the first half of 2023 .
For the first six-month period, Malaysia attracted a total of RM132.6 billion worth of approved investments in the services, manufacturing and primary sectors involving 2,651 projects from Jan to June 2023 and is expected to create 51,853 job opportunities in the country. He said Malaysia managed to attract approximately a similar amount of approved investments in H1 2023 year-on-year, reflecting confidence in the nation’s economic growth prospects despite global demand slowdown and a higher interest rate environment in key markets.
Domestic direct investment accounted for 52.2 per cent of the total approved investment, or RM69.3 billion, driven by investments in the services sector, particularly real estate and primary sector. The minister said this balance is clearly demonstrated in the amount of FDI, which contributed 47.8 per cent, or RM63.3 billion, to the approved investments.
Together, these top five states accounted for an impressive 74.9 per cent of the total approved investments.
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