KUALA LUMPUR – Malaysia’s approved investments for the first half of 2022 (1H 2022) has reached RM123.3 billion, said MIDA (the Malaysian Investment Development Authority).
According to a recent statement, the approved investments were spread out across 1,714 different projects, the most of which were located in the primary, manufacturing, and service sectors. In addition to this, it is anticipated that the investments made in Malaysia will result in the creation of 57,771 new job opportunities.
Based on the statement, MIDA said that the major contributor to Malaysia’s approved investments are foreign direct investments (FDIs) which attributed RM87.4 billion of the total, or 70.9%, while at the same time, domestic direct investments (DDIs) make up the remaining RM35.9 billion, or 29.1%.
It said that during the 1H 2022, the services sector had played a vital role in driving Malaysia’s economic recovery, with 1,351 projects making up 63.3% of the overall approved investments worth RM78.0 billion with 22,569 new job opportunities created in the sector.
When compared to the RM52.4 billion that was reported during the first half of 2021, this sum represents a 48.8% rise.
Second on the list was the manufacturing sector with a total of RM42.1 billion, contributing 34.9% of the total approved investments. For the same period last year, the sector brought in RM75.8 billion.
The statement said that the high total approved investments in the sector for 1H 2021 was due to the approval of a mega project.
MIDA explained that out of the total FDIs, China tops the list with RM48.6 billion. This was followed by Germany (RM9 billion), Singapore (RM6 billion), Brunei (RM5.1 billion), and The Netherlands (RM4.1 billion).
As for the state-approved projects, it reported that Johor, Selangor, Sabah, Kedah, and Penang, had made up 83.9% of the total approved investments, worth RM103.5 billion.
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