Malaysia emerges as most attractive country in Southeast Asia for foreign investors

KUALA LUMPUR: Malaysia has become the most attractive country in Southeast Asia for foreign investors, driven by the success of attracting more than RM220 billion approved investments in 2021 for the manufacturing and services sectors, according to the 2022 Milken Institute Global Opportunity Index (GIO).

Senior Minister cum International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said this is a further testament to the government's resolve, commitment and proactiveness in developing sound policies, and efficiently and constantly driving domestic reforms.

"The commitment has ultimately elevated Malaysia's position as a preferred investment destination, no doubt signifying the strong confidence of foreign investors in our agile business ecosystem and vibrant economy," he said in a statement today.

The index, which was released yesterday, reported that Malaysia secured its top spot due to its strong performance across all categories measures, namely having a strong economic performance, offering highly qualified workforce, and being firmly integrated with the global economy.

Azmin said this clearly underscores the success of the Ministry of international Trade and Industry's (MITI) massive efforts in implementing policies that ensure the readiness of talent, and the protection and creation of jobs for the economy.

"Aggressively seeking out opportunities, particularly in new growth areas, driving greater collaborations with the industries on upskilling and reskilling initiatives and drawing more strategic investments into the country will remain MITI's focus in securing Malaysia's position as the most attractive foreign investment destination.

"It is indeed noteworthy that the report draws attention to Malaysia having taken steps to relax restrictions and enact policies in capitalising on its trade developments, thus helping us claim first-place ranking in this year's Index," he added.

Azmin said these measures serve as an impetus to lead the nation to increased innovation, job creation, and global competitiveness.

"This has been echoed with our commitment to strengthening institutional frameworks and deepening regional integration through mega free-trade agreements (FTAs) such as the Regional Comprehensive Economic Partnership (RCEP) Agreement and the soon-to-be ratified Comprehensive and Progressive Agreement for Trans-Pacific (CPTPP)," he said.

-- BERNAMA