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Malaysia Creates Almost 90,000 Jobs from RM225.0 Billion Approved Investments For 9M2023, Exceeding Full-Year Annual Target

>Highlights>Malaysia Creates Almost 90,000 Jobs from RM225.0 Billion Approved Investments For 9M2023, Exceeding Full-Year Annual Target

Malaysia Creates Almost 90,000 Jobs from RM225.0 Billion Approved Investments For 9M2023, Exceeding Full-Year Annual Target

In the face of global uncertainties, Malaysia’s robust investment facilitation strategies have yielded impressive results, attracting RM225.0 billion in approved investments during the period from January to September 2023. Backed by 3,949 investment projects, this 6.6% surge in value is set to unlock 89,495 new job opportunities, showcasing Malaysia’s resilience across services, manufacturing, and primary sectors.

A Breakdown of Investment Success

Foreign Direct Investment (FDI) made up a significant 55.9% of the total approved investments, amounting to RM125.7 billion. The Netherlands emerged as the leading source of FDI, contributing RM35.0 billion. Notably, Malaysia also attracted substantial investments from Singapore (RM20.4 billion), the United States (RM18.9 billion), the People’s Republic of China (PRC) (RM11.6 billion), and Japan (RM11.2 billion).

Domestic Direct Investment (DDI), on the other hand, contributed RM99.3 billion, or 44.1% of the total approved investments. This represents an impressive increase of 45.2% year-on-year, a testament to local players’ confidence in the country’s prospects.

States Attracting Investments

Five (5) states which garnered significant investment values are Wilayah Persekutuan Kuala Lumpur (RM48.9 billion) Pulau Pinang (RM44.9 billion), Selangor (RM41.6 billion), Kedah (RM22.6 billion), and Johor (RM20.0 billion). Collectively, these states accounted for 60.2% of the total approved investments for the reporting period.

The New Industrial Master Plan (NIMP) 2023 and The National Energy Transition Roadmap (NETR)

In line with the transition to the green agenda as outlined in the National Energy Transition Roadmap (NETR) and the New Industrial Master Plan (NIMP) 2030, investments in green technology have grown significantly, by 24.6% to RM1.5 billion year-on-year. These investments encompass various green technology initiatives, including renewable energy generation, energy conservation, waste management, green buildings, and green services.

Services Sector Takes the Lead

The prominence of Malaysia’s services sector has grown steadily over time. This sector led the way in terms of approved investments from January to September 2023, accounting for RM117.7 billion or 52.3% of the total approvals. It is expected to create 40,607 new jobs, which also reflects the sector’s attractiveness for investments.

A Thriving Manufacturing Sector

The manufacturing sector also performed well, attracting RM99.8 billion across 607 projects, set to generate an estimated 48,496 job opportunities. The electrical and electronics (E&E) industry played a leading role in these investments, anticipating a 2024 demand recovery in global semiconductor sales.

A Positive Trend in the Primary Sector

The primary sector sees RM7.5 billion in approved investments, driven by 58 projects, it anticipates creating 392 new jobs.

Future Prospects

Malaysia’s momentum continues as efforts intensify to attract quality investments, with 1,428 projects in MIDA’s pipeline totaling RM72.3 billion. The services sector leads the way, with 1,352 projects, while the manufacturing sector comprises 76 projects.

 

Additionally, a total amount of RM161.6 billion in high potential investment leads are actively being negotiated by MIDA.

 

Our success in attracting RM225.0 billion in investments demonstrates Malaysia’s prowess as a global investment destination. The diversified inflow of investments from leading economies and the steadfast commitment by the Government and stakeholders underscore our nation’s resilience and its solid ecosystem.

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