The government is in active negotiations to secure 426 potential projects involving aggregate domestic direct investment (DDI) and foreign direct investment (FDI) of RM107.6 billion, said the Ministry of International Trade and Industry (Miti).
These projects are expected to be sealed this year, the ministry said.
Apart from this, the government — through Miti and its agency the Malaysian Investment Development Authority — has succeeded in obtaining FDI commitments via trade missions to several countries, it said.
“This includes the mission to Milan, Italy, from Jan 20-23, 2023, which obtained investment commitments totalling RM3.25 billion; the mission to Singapore from January 28-31 (RM13 billion) as well as the South Korean mission from March 14-17 (RM24 billion),” Miti said in reply to a question from Senator Mohd Apandi Mohamad on the number of mega investors being targeted and the total funds promised by them.
Although the world is currently facing economic uncertainties and geopolitical conflicts, Malaysia remains a competitive FDI destination, Miti said.
It said that among the factors that make Malaysia a preferred investment destination for foreign investors and a main supply chain hub in the region are a conducive business ecosystem comprising aspects such as economic growth, infrastructure development and quality transportation network, investment incentives, telecommunication and utility services, as well as quality and supply of labour.
