Malaysia records highest investment of RM38.7 billion last year

Malaysia received RM38.7 billion in investments last year - the highest in the country's history.

International Trade and Industry (MITI) Minister Datuk Mustapa Mohamed said the amount is inclusive of both foreign and local investments.

"We are not only dependent on foreign investments, but also the contribution from domestic investors. That is why the government is giving the same attention to both foreign and domestic investors to invest in the country," he added.

He told reporters this during his visit to the PETRONAS Complex here Sunday night.

Mustapa said foreign investors were bringing in sophisticated technologies, mostly in the services and high technology sectors, while domestic investors are important in sectors such as real estate, construction and tourism.

He said Malaysia is expected to sustain last year's momentum and with the strengthening domestic economy, investments are expected to improve compared to 2013.

Meanwhile, touching on PETRONAS, he called on closer cooperation between the national oil company, the Malaysian Investment Development Authority (MIDA) and MITI towards helping expand the petrochemical industry in Malaysia.

"Since PETRONAS began operations in Terengganu in 1984, it has contributed a lot to the state, not only physically, but by opening up job opportunities.

"This alongside education and other social responsibilities," he added.