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Malaysia's approved investment of RM149 billion registered from January to September

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In the first nine months of this year, Malaysia's registered investment in the services, manufacturing and primary industries was RM149 billion.

This is 4.4% higher than the RM142.6 billion approved in the same period last year.

Minister of International Trade and Industry Datuk Darrel Leiking said the investments involved 4,025 projects and would create 93,841 jobs.

"Most of the investment came from domestic sources, contributing 85.7 billion ringgit, or 55.5% of the total investment," he said in a statement.

Darrell said foreign direct investment (FDI) accounted for 46.6% or RM46.3 billion.

He added that the total approved foreign direct investment in these three main areas increased by 6.5% from RM62.2 billion in the same period last year to RM66.3 billion from January to September 2019.

"Malaysia firmly wants to be the preferred investment destination for innovation-based knowledge-intensive investments in high-growth, high-value industries.

"Although continued trade tensions indicate slower growth, we will stick to it and continue to attract strategic partners to invest in Malaysia," Darrell said.

He added that this would have a more spillover effect on the economy through the growth of the local supply chain ecosystem and the increase in Malaysia's workforce.

As of September 2019, Darrell said that the Malaysian Investment Development Authority (MIDA) is actively negotiating with 682 projects, with a proposed investment of RM37.6 billion.

These include 242 projects in the manufacturing sector (RM 26.6 billion) and 440 projects in the service sector (RM 11 billion).

(Source by NST)

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