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MIDA identifies 352 foreign investment projects worth potentially RM39 bln

MIDA identifies 352 foreign investment projects worth potentially RM39 bln

08 Mar 2022

The Malaysian Investment Development Authority (MIDA) has identified 352 high profile foreign investment projects as of the end of last year in the manufacturing and services sectors, including Fortune 500 companies, with a combined potential investment value of RM39.2 billion.

Senior Minister and Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali said these projects will create more than 19,000 new jobs.

He said the proposed investments were in areas such as  aerospace, electric vehicles, machinery and equipment, advanced electronics,  renewable energy, pharmaceuticals, medical devices and food security, among others.

“While 2021 presented unique economic challenges, Malaysia remains steadfast in its fundamentals as the pre-eminent preferred investment destination in the region and set to catapult the nation to stage its most robust recovery post-pandemic,” the minister  said at the MIDA  Annual Media Conference (AMC) 2022 here today.

“As we forge ahead in the new year on the path of economic revitalisation supported by ongoing policy reforms, the effective deployment of vaccination programmes, and accelerated digitalisation, the government remains committed to prioritising the needs of our people and businesses,” he added.

As a trading nation, he noted that Malaysia will continue to be impacted by the dynamics of geopolitics, economic headwinds, as well as the continuing fight against the pandemic, and warned of uncertainty ahead.

“Be that as it may, Malaysia continues to forge ahead (with) robust policies that will further enhance the positive trajectory we are in. The National Investment Aspirations is poised to attract high impact investments in new growth areas,” he said.

The New Industrial Master Plan 2022-2033 will further spur local industries to accelerate digitalisation efforts so that the country can fully realise the benefits of transition into Industry 4.0, the minister said.

Source: Bernama

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