NCI approves projects worth RM5.4 bln

​The National Committee on Investment (NCI) has approved four projects in the manufacturing sector worth RM5.4 billion in a meeting yesterday

The National Committee on Investment (NCI) has approved four projects in the manufacturing sector worth RM5.4 billion in a meeting yesterday.

This includes an investment worth RM2 billion by a multinational glass manufacturer to produce float glass and photovoltaic functional glass at the Kota Kinabalu Industrial Park, said the Ministry of International Trade and Industry (MITI) in a statement today.

The meeting was co-chaired by MITI Minister Datuk Darell Leiking and Finance Minister Lim Guan Eng, the ministry said, adding that the projects will be carried out in Sabah, Johor, Selangor and Penang.

Darell said for the first nine months of 2019 (9M 2019), Malaysia recorded RM149 billion worth of approved investments in the services, manufacturing and primary sectors.

“This was 4.4 per cent higher than the RM142.6 billion approved in the same period last year.

“These investments involve 4,025 projects and will create 93,841 jobs,” he said, adding that approved investments for global establishments had increased by 185.7 per cent in 9M 2019.

Darell added that the Malaysian Investment Development Authority had also secured 126 projects wherein the companies involved have proposed to make Malaysia as the principal hub, or to set up their regional or representative offices.

“The projects are expected to create jobs for 884 knowledge-based or highly technical skilled workers, and will position Malaysia on course for greater integration into the global supply chain,” he added.

Source: Bernama

Posted on : 13 December 2019
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Last Updated : Thursday 21st May 2020