KUALA LUMPUR, 11 June 2019 – Malaysian Investment Development Authority (MIDA) announces RM53.9 billion approved investments in the manufacturing, services and primary sectors for the first quarter of 2019 (Q1 2019).
MIDA stated the positive investment growth of Q1 2019 was mainly driven by the robust performance of the manufacturing sector that soared by 126.8% compared to Q1 2018.
“Foreign investments increased by 73.4% to RM29.3 billion from RM16.9 billion in the first quarter of 2018. Domestic investments approved in Q1 2019 amounted to RM24.6 billion, contributing 45.6% to the total,” MIDA stated.
The investments approved in January to March 2019 were from 1,678 projects, and are expected to generate more than 41,200 job opportunities for the country.
The manufacturing sector accounted for the largest share of total potential employment in the economy with 22,970 job opportunities or 55.7%, followed by the services sector with 18,000 job opportunities (43.7%) and primary sector with 240 employment opportunities (0.6%).
In Q1 2019, the services sector attracted the largest portion of approved investments into the economy and garnered 1,445 approved projects with investments worth RM26.1 billion.
The bulk of the investments came from domestic sources, which contributed RM18.0 billion or 69% of the total approved investments while the foreign sources contributed RM8.1 billion or 31%.
As for the manufacturing sector, it recorded an impressive approved investment of RM25.4 billion in Q1 2019, which is 126.8% more than RM11.2 billion recorded in Q1 2018.
The CIPE ratio of manufacturing projects approved in the first quarter of 2019 was RM1,105,582 compared with RM805,531 in Q1 2018.
A total of six manufacturing projects with investments of at least RM1 billion, with total investments of RM16.5 billion, were approved in Q1 2019. The manufacturing sector also featured 20 projects approved with investments of at least RM100 million or more.
Investments into these 26 projects reached RM22.3 billion or 87.8% of total investments approved in the manufacturing sector.
The primary sector contributed RM2.4 billion or 4.5% to the total approved investments in Q1 2019 in which majority of investments were contributed by domestic sources (RM1.4 billion or 58.3%), while foreign investment amounted to RM1.0 billion or 41.7%.