MIDA sets to hit investment target for the year

The Malaysian Investment Development Authority (MIDA) is set to hit its manufacturing investment target of RM52 billion for 2014, having already secured RM41.75 billion for the first five months of the year.

Approved investments for petroleum products including petrochemicals amounting to RM6.76 billion for the January to May period had already exceeded last year’s total approved investments in the industry of RM6.2 billion, MIDA Service Development Executive Director, Azian Mohd Yusuf said at the Local Journalist Programme, She attributed the significant jump in investment to the Pengerang project in Johor.

The chemicals and chemical products attracted the bulk of the investments with RM14.47 billion for the first five months of the year, followed by basic metal products at RM6.81billion while the electronics and electrical products continued to draw in investments with RM6.37 billion approved for the same period.

Source: MIDA and NST Business Times 4 Sept 2014

Posted on : 04 September 2014
Last Updated : Thursday 24th September 2020