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MITI maintains RM97.9b domestic direct investment target this year, says Azmin

MITI maintains RM97.9b domestic direct investment target this year, says Azmin

26 Jul 2022

The Ministry of International Trade and Industry (MITI) has maintained this year’s domestic direct investment (DDI) target at RM97.9 billion, which is the same as in 2021.

Senior Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali is optimistic that Malaysia will be able to repeat the success and maintain the positive momentum.

“In the first quarter of 2022, we have recorded RM42.8 billion in investment, of which RM15 billion is DDI.

“Of course, we are increasing our efforts to ensure that demand increases and [that it] can be met by small and medium enterprises and local players,” he told reporters at the Domestic Investment Seminar Series I (Central Region) organised by the Malaysian Investment Development Authority (MIDA).

Earlier during the luncheon speech, Mohamed Azmin said the government remains resolutely committed to nurturing the Malaysian pro-business and investment environment towards accelerating the growth of not only foreign but domestic investments as well.

He said with RM208.6 billion in foreign direct investment (FDI) and RM97.9 billion in DDI last year, Malaysia continues to retain the confidence of its investors and stakeholders while strengthening its reputation as a strategic profit centre for businesses in Asia.

He added that in 2021, Malaysia achieved RM306.5 billion in approved investments in the manufacturing, services, and primary sectors, marking a spectacular growth of 83.1%.

Of this, 31.9% was in DDI indicating therefore a robust contribution to the overall investment performance of the country.

Meanwhile, he revealed the top five performing domestic investment sub-sectors are real estate, utilities, hotel and tourism, global establishments, and electrical and electronics.

“These are sectors clearly indicative of much potential for further growth in view of the positive trajectory of the economic recovery,” he said.

Source: Bernama