Kuala Lumpur, 4 Sept 2022 — Malaysia is on the right trajectory to secure more high-quality, high impact and capital-intensive projects, with the services sector being the key growth driver for the economy and the largest contributor to approved investments for the first half of this year, said Senior Minister and Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali.
“In maintaining the momentum, the Ministry of International Trade and Industry will continue to strengthen the country’s competitiveness by developing economic complexity, nurturing a strong industrial ecosystem with innovation intensity, enhancing inclusivity by the creation of high-income jobs and promoting opportunities to participate in the regional and global supply chains,” he said in his Twitter post today.
On Friday, the Malaysian Investment Development Authority (MIDA) announced that Malaysia has attracted RM123.3 billion (US$28.0 billion) worth of approved investments in the manufacturing, services and primary sectors in 1H2022, involving 1,714 projects which are expected to create 57,771 jobs.
In a statement, MIDA said foreign direct investments remained as a major contributor to the investment inflows at 70.9 per cent or RM87.4 billion (US$19.9 billion), while investments from domestic sources contributed 29.1 per cent or RM35.9 billion (US$8.2 billion).
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