ZCZC
BCN-28
MALAYSIA-INVESTMENT-MANUFACTURING
Malaysia’s new approved direct investments rise to 19.18 bln USD in H1
KUALA LUMPUR, Oct. 29, 2018 (BSS/Xinhua) – Malaysia’s new approved direct
investments in the services, manufacturing and primary sectors rose 17.7
percent year-on-year to 80.2 billion ringgit (about 19.18 billion U.S.
dollars) in the first half of 2018, according to data released Monday.
Malaysian Investment Development Authority (MIDA) said in a statement that
the approved investments come from 2,346 projects, and are expected to
generate 60,181 job opportunities for Malaysia.
The domestic investments which contribute 67 percent to the total approved
investments, expanded 10.5 percent year-on-year to 53.7 billion ringgit.
Meanwhile, foreign investments grew 35.3 percent year-on-year to 26.5
billion ringgit, mainly driven by investments in the manufacturing and
primary sectors.
The services sector remains as the key driver, with its approved
investments standing at 50.9 billion ringgit.
The approved investments for the manufacturing industry increased 21.2
percent year-on-year to 20.2 billion ringgit. The primary sector contributed
9.1 billion ringgit or 11.3 percent to the total approved projects.
The foreign investments in approved manufacturing projects surged 63.1
percent year-on-year to 15.2 billion ringgit, mainly supported by Chinese
investment.
China accounted for 6.5 billion ringgit, or 43 percent of the total
foreign investments, in the manufacturing sector, followed by South Korea (16
percent), Japan (10 percent), Singapore (5 percent) and France (4 percent).
According to MIDA, the notable investments include a new manufacturing
project from China for the basic metals industry that involves utilizing
“blast furnace” technology that not only produces quality end-products at a
cheaper cost but can also contribute to a greener steel-making process.
This project, which offers 98 percent of its total job opportunities to
Malaysians, is expected to reduce imports of intermediate goods and will
strengthen the metal and steel industry, it said.
BSS/XINHUA/HR/1450