During a press conference where he presented Malaysia’s trade and investment report for the past year, Minister of Trade and Investment, Datuk Seri Tengku Zafrul, stated that the country is on track to exceed its 2022 foreign direct investment target.
Malaysia recorded a net inflow of RM74.6 billion in FDI in 2022, surpassing the RM50.4 billion recorded in 2021. In response to BusinessToday’s question, the Minister confirmed with MIDA that total FDI for 2023 will exceed last year’s figures.
As for total investment (unrealised) for the year, Tengku Zafrul said investment facilitation efforts have helped attract RM225 billion in approved investments across the services, manufacturing, and primary sectors for the period from January to September 2023. He also told BusinessToday that the Ministry expects 80% of those investment to be potentially realised.
MITI also noted that there was a 6.6% increase in value, backed by 3,949 investment projects, is set to unlock 89,495 new job opportunities, showcasing Malaysia’s resilience on the back of prevailing global operational uncertainties across various industries.
Out of which, FDI constituted 55.9% of the total approved investments at RM125.7 billion. The Netherlands emerged as the leading source of FDI, contributing RM35.0 billion. Notably, Malaysia also attracted substantial investments from Singapore (RM20.4 billion), the United States (RM18.9 billion), the People’s Republic of China (PRC) (RM11.6 billion), and Japan (RM11.2 billion).
