KUALA LUMPUR (Dec 3): Malaysia has approved RM489.5 billion in investments across the manufacturing, services, and other primary sectors over the past 18 months, said Deputy Minister of Investment, Trade, and Industry Liew Chin Tong. 

Of the total RM262.9 billion invested, 53% consisted of foreign investments and the remainder domestic, covering the period for the whole of 2023 through June 2024.

“In terms of foreign investments, Penang recorded the highest at RM65.9 billion, followed by Kedah at RM54.9 billion, the Federal Territory of Kuala Lumpur at RM43.79 billion, Johor at RM38.97 billion, and Selangor at RM29.89 billion,” he told the Dewan Rakyat on Tuesday during the oral question-and-answer session.

He was responding to Chong Chieng Jen (Pakatan Harapan-Stampin), who inquired about the total approved foreign direct investments (FDIs), and the detailed breakdown by state.

Liew further explained that the term “foreign investment” (FI), as reported by the Ministry of Investment, Trade, and Industry (Miti), through the Malaysian Investment Development Authority (Mida), differs from the FDI term used by the Department of Statistics Malaysia (DOSM).

He said that Mida reports the approved investment value, which reflects proposed projects and their implementation status, while DOSM's FDI data focuses on actual foreign capital inflows and outflows, with investments involving at least 10% holding in affiliated companies in Malaysia. 
MIDA's FI data emphasises the economic impact of approved projects, contributing to economic growth, while DOSM’s FDI data provides insights into financial transactions and macroeconomic statistics.

Liew said that the ministry and Mida will continue to intensify efforts to attract quality investments to benefit the country and its people, including through economic activities, business opportunities, and high-value jobs.

Meanwhile, Liew acknowledged that Malaysia is facing uncertainty with the upcoming inauguration of United States President-elect Donald Trump next year, but emphasised that the government is always ready to negotiate with the country’s third-largest trading partner.

“We will also cooperate with companies based in Malaysia, whether foreign or local, to ensure that we receive fair treatment in this new situation,” he said.

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