Azmin: MITI will continue to strengthen Malaysia’s competitiveness
04 Sep 2022
The Ministry of International Trade and Industry (Miti) will continue to strengthen the Malaysia’s competitiveness by developing economic complexity and nurturing a strong industrial ecosystem with innovation intensity to further boost the country’s positive trade performance, said Senior International Trade and Industry Ministry Datuk Seri Mohamed Azmin Ali.
Azmin added that Miti will also enhance inclusivity through the creation of high-income jobs and promoting opportunities to participate in regional and global supply chains.
“Malaysia is on the right trajectory to secure more high-quality, high-impact, and capital-intensive projects, with the service sector being the key growth driver for the economy and the largest contributor for approved investments for the first half of this year,” he said in a Twitter post on Sunday (Sept 4).
On Friday (Sept 2), the Malaysian Investment Development Authority (Mida) announced that Malaysia attracted RM123.3 billion worth of approved investments in the manufacturing, service, and primary sectors in the first half of 2022, involving 1,714 projects expected to create 57,771 jobs.
In a statement, Mida said foreign direct investments remained as a major contributor to the investment inflows at 70.9% or RM87.4 billion, while investments from domestic sources contributed 29.1% or RM35.9 billion.