KUALA LUMPUR, 8 November 2022 – The Malaysian Investment Development Authority (MIDA) anticipates that overall authorised investments would rebound to pre-pandemic levels of about RM200 billion per year in 2022.
According to Datuk Arham Abdul Rahman, the Chief Executive Officer, domestic direct investment and foreign direct investment account for 60:40 of the country’s yearly sanctioned investments, mostly in the services sector.
He highlighted that investments in semiconductors and electrical and electronics (E&E) will continue to account for the majority of total investment this year.
“The global disruptions in the E&E and semiconductor supply chains globally during the pandemic saw many chips and semiconductors being used in mobile phones and PC productions, (causing a shortage) for the automotive industry,” he said at a press conference following a panel discussion titled “Shifting the Paradigm: Enhancing DDI for Sustainable Economic Growth” here today.
MIDA authorized RM123.3 billion in total investment in the first half of 2022, mostly in the services sector, including data center projects in Johor.
He declined to give the most recent number of authorised investments, but said that the trend is upward, in accordance with increased interest in Malaysia as a preferred investment location among local and overseas investors.
Despite the unique global calamities, MIDA approved a record RM309.4 billion (US$74.2 billion) in investments in the manufacturing, services, and primary sectors in 2021, thanks to several big ticket projects secured, particularly in the E&E and semiconductor industries, including from Intel and Osram. — BERNAMA
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