MIDA: China leads FDI contribution with one-third of total RM163b, while Johor the biggest beneficiary
08 Mar 2023
Malaysia has attracted a total of RM163.3 billion of foreign direct investment (FDI) or 61.7 per cent in last year’s total approved investments while domestic direct Investment (DDI) contributed RM101.3 billion or 38.3 per cent of the total sum, said Malaysian Investment Development Authority (Mida) in a media statement today.
According to Mida, China has dominated 33.9 per cent of foreign investments with RM55.4 billion.
This is followed by the United States with 17.9 per cent or RM29.2 billion, the Netherlands with 12.5 per cent or RM20.4 billion, and Singapore with 8.3 per cent or RM13.5 billion.
The statement also said that five states have seen significant investment activity, with Johor having the most approved investments, totalling RM70.6 billion.
This is followed by Selangor with RM60.1 billion, Sarawak with RM28.2 billion, Kuala Lumpur with RM25 billion, and Penang with RM16.3 billion.
Meanwhile, the national investment agency said that FDI accounted for 55.1 per cent or RM84.9 billion of total approved investments in the service sector and 78.3 per cent or RM66 billion of total approved investments in the manufacturing sector.
The only sector in that DDI has played a major role is the primary sector, which saw a contribution of RM13.9 billion or 52.9 per cent, while DDI accounted for the remaining 47.1 per cent or RM12.4 billion.
Earlier today, Minister of Domestic Trade and Industry Datuk Seri Tengku Zafrul Abdul Aziz said Malaysia recorded a total of RM264.6 billion in approved investments last year which translated to 4,454 projects creating 140,370 job opportunities.
Tengku Zafrul added that the service sector dominated last year’s total approved investments which recorded 3,581 projects worth RM154 billion, or 58 per cent of the total sum.
Source: Malay Mail