Malaysia saw RM107.5 billion in foreign and domestic investments during the first half of the year, indicating robust investor confidence in the country, according to Senior Minister for International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali.
He noted that total investment, which were mainly in manufacturing, services and primary sectors, jumped 69.8% from last year, reported Malay Mail.
Azmin revealed that the investments will involve 2,110 projects, which are expected to create 44,994 job opportunities.
Domestic investments played a vital role, particularly in the services and primary sectors, which accounted for RM45 billion or 41.9% of total approved investments.
Foreign direct investment (FDI) soared 223.1% from last year, with the bulk of investment directed to the manufacturing sector.
“The stellar performance also demonstrates that Malaysia’s strategy of positioning the country as an attractive investment destination of choice and a supply chain hub in Asean, particularly for manufacturing operations, is showing positive results,” said Azmin as quoted by Malay Mail.
“FDI drove the strong and vibrant performance of the manufacturing sector during the period, registering RM58.2 billion in approved investments. The remaining RM8.7 billion approved investments in this sector were from domestic sources.”
Investments into the country will be used to create jobs across a vast spectrum of skills for the rakyat, he said.
For instance, the 367 manufacturing projects worth RM66.9 billion are anticipated to create 32,220 job openings, including 1,367 managerial positions as well as 4,031 technical professionals like engineers in the field of mechanical, chemical, electrical and electronics, among others.