Malaysia saw RM188.4b foreign investment, RM141.1b domestic investment last year, says Liew

Malaysia saw RM188.4b foreign investment, RM141.1b domestic investment last year, says Liew

01 Apr 2024

The country recorded foreign investment amounting to RM188.4 billion last year, marking a 15.3% increase from 2022, said Deputy Investment, Trade and Industry Minister Liew Chin Tong.

He said domestic investment contributed RM141.1 billion, reflecting a 35.1% increase from the previous year.

Foreign investment accounted for 57.2% of the total investment of RM329.5 billion approved in 2023, while domestic investment represented the remaining 42.8%.

“We aim to expedite the realisation of approved investments to maximise their spillover effects on the national economy.

“By actualising the approved investments, we can create better job opportunities with higher wages for Malaysians,” Liew said during a question-and-answer session in the Dewan Negara on Monday.

He was replying to Senator Datuk Lim Pay Hen’s query regarding the amount of investment successfully secured by the government throughout 2023.

According to Liew, the country previously recorded high investment amounts without prioritising localisation.

“This time, the government aims to ensure that incoming investments generate quality jobs with higher wages, and prioritises localisation to benefit local entrepreneurs from foreign investment,” he added.

Source: Bernama