Malaysia eyes RM56 bln investments in manufacturing sector

Malaysia aims to attract investments worth RM56 billion in the manufacturing sector in 2015, a modest target compared with the RM71.9 billion it received last year.

Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said the manufacturing sector has remained attractive to investors, with approved investments in the sector surging by 38 percent to RM71.9 billion in 2014 compared with RM52.1 billion in 2013.

For the services sector, excluding real estate, the government expects to attract RM64.5 billion in investments this year, the minister said after revealing the country's Investment Performance Report 2014 here today.

Despite a challenging external environment this year, Mustapa said he still expects a moderate outlook for the investment climate in Malaysia.

He said currently there are RM65.1 billion worth of on-going projects --RM51.4 billion in the manufacturing sector and RM13.7 billion in the services sector.

Malaysian Investment Development Authority (MIDA) Chief Executive Officer Datuk Azman Mahmud said the agency will continue to focus on an ecosystem approach to lure investments in the targeted industries.

This includes strengthening the coordination of investment promotion activities, enhancing facilitation of approved investments, and improving the compilation and dissemination of investment statistics.

MIDA is an agency under MITI that overseas and drives investments in the manufacturing and services sectors.

Azman said the government, on its part, will continue to introduce various measures and incentives to enhance Malaysia's competitiveness.