The Malaysian Investment Development Authority (MIDA) announced today that a total of 726 projects with proposed investments of RM36.7 billion are in the pipeline for the manufacturing, services and primary sectors.
Despite the encouraging numbers, it cautioned that 2020 will be a challenging year to all economies, including Malaysia, it said in a statement to announce first-quarter (1Q) investment data for the year.
Malaysia recorded a total of RM37.4 billion worth of approved investments in the manufacturing, services and primary sectors in the first quarter of this year, of which RM26.3 billion or 70.4 percent was direct domestic investment (DDI) while the rest were from foreign sources.
The United Nations Conference on Trade and Development (UNCTAD) forecast that global FDI flows would decline by up to 40 percent in 2020, from the 2019 value of US$1.54 trillion (RM6.6 trillion).
Last year, Malaysia attracted a total of RM207.9 billion of approved investments in the manufacturing, services and primary sectors, a 1.7 percent increase compared with the previous year.
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16 July 2020