The Malaysian Investment Development Authority (MIDA) announced today that a total of 726 projects with proposed investments of RM36.7 billion are in the pipeline for the manufacturing, services and primary sectors.
Despite the encouraging numbers, it cautioned that 2020 will be a challenging year to all economies, including Malaysia, it said in a statement to announced first-quarter (Q1) investment data for the year.
Malaysia recorded a total of RM37.4 billion worth of approved investments in the manufacturing, services and primary sectors in the first quarter of this year, of which RM26.3 billion or 70.4 per cent was direct domestic investment (DDI) while the rest were foreign source.
The United Nations Conference on Trade and Development (UNCTAD) forecasted that global FDI flows would decline by up to 40 per cent in 2020, from the 2019 value of US$1.54 trillion (RM6.6 trillion).
Last year, Malaysia attracted a total of RM207.9 billion of approved investments in the manufacturing, services and primary sectors, a 1.7 per cent increase compared with the previous year.
The services sector led the way for total investments approved in 2019 at RM118.1 billion, followed by the manufacturing sector at RM82.7 billion and the primary sector at RM7.0 billion.
The investment agency has assured there will be no let-up in its investment promotion efforts as its 20 overseas and 12 regional offices would continue to entice quality investments from their areas of coverage despite the flagging economy due to COVID-19.
MIDA, which is the government's principal agency for the promotion of the manufacturing and services sectors, has overseas offices that cover Asia, Europe, the United States, and Australia./p
As promotion programmes could not be carried out physically due to the spread of the COVID-19 pandemic, MIDA has embarked on several approaches to engage with potential investors since March 2020.
"These include discussions with existing and new investors in collaboration with our investment ecosystems enablers such as financial institutions and business chambers," it told Bernama via email earlier this month.
MIDA also continues to have one-to-one online business meetings with existing and new investors to facilitate their investment projects in Malaysia, in line with the government’s policy to attract high value-added investments into the country.
– BERNAMA
Bernama
Thu Jul 16 2020
Despite the encouraging numbers, it cautioned that 2020 will be a challenging year to all economies, including Malaysia - Filepic
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Minimum wage to increase to RM1,700 effective Feb 1, 2025
The Progressive Wage Policy would be fully enforced next year with an allocation of RM200 million, benefiting 50,000 workers.
Bursa Malaysia ends higher on Budget 2025 optimism
The benchmark index, which opened 1.85 points higher at 1,643.29, moved between 1,641.71 and 1,649.31 throughout the trading session.
Five important aspects relating to people’s lives in Budget 2025 - PM
The focus is on driving the MADANI Economy, speeding reforms, cutting red tape, raising wages, and tackling the cost of living.
Economic outlook: Govt plans to leverage, expand existing city transit system
The expansion aims to provide a more efficient and reliable public transportation network, reduce congestion, and improve accessibility.
Economic outlook: Budget 2025 to lay foundation for a digital-driven economy
The report said Budget 2025 will entail efforts to position Kuala Lumpur as a top 20 global startup hub by 2030 through the KL20 initiative.
Economic outlook: Corruption and lack of accountability hinder economic progress
Special Cabinet Committee on National governance is established to curb corruption, law reforms to modernise outdate regulations, MoF said.
National Wages Consultative Council will be strengthened
The govt will also incentivise hiring women returning from career breaks, offer job matching and improve care services facilities.
Economic outlook: Ensuring 11 years of compulsory education for all children
Budget 2025 will continue prioritising upskilling and retraining initiatives to equip workers with the latest skill sets necessary.
Consolidated public sector projected to record lower surplus of RM41.7 bil 2024
The MoF said the consolidated general government revenue is estimated to increase slightly to RM384.7 billion in 2024.
PM announces substantial Budget 2025 hastening Malaysia to become Asian economic powerhouse
Datuk Seri Anwar Ibrahim said it would create jobs and also tackle financial leakages to enhance public spending efficiency.