MIDA confident of achieving investment target

The Malaysian Investment Development Authority (MIDA) is confident of achieving its RM170bil investment target for the whole of 2015 despite the challenging global economic environment.

Its Deputy Chief Executive Officer, Datuk Phang Ah Tong said the figure would come from the manufacturing and services sectors.

He said that in the first-half of the year, Malaysia received about RM49bil and RM62bil in investments in the manufacturing and the services sectors respectively.

He said this at a press conference after opening Bosch sales office in Wisma SP Setia in Bukit Indah here.

Also present at the event were Bosch South-East Asia president Martin Hayes and Bosch Malaysia managing director Simon Song.

Phang said the services sector would become the key factor to attract new investments into the country.

“However, manufacturing activities will continue to drive our economy and we are focusing on attracting more high-technology investments,” he said.

Phang said among the high-technology investments were in the electronics and electrical, medical devices, aeronautical, machinery and equipment sectors.

He said MIDA would focus on the supply chain management sector to develop the country as the distribution hub for global companies.

Source : StarBiz 

Posted on : 14 October 2015
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Last Updated : Thursday 17th October 2019