KUALA LUMPUR, February 24 – Datuk Seri Tengku Zafrul Abdul Aziz, the Minister of Investment, Trade, and Industry (Miti), revealed today that the government has approved a historic RM329.5 billion in investments for 2023, marking a significant 23% increase from the previous year. Foreign investments constitute the majority at 57.2%, while domestic investments contribute 42.8%. This surge in approved investments, the highest in the nation’s history, reflects growing confidence in Malaysia’s economic policies under the Madani government.
Tengku Zafrul emphasized that these investments, comprising 5,101 projects, hold the potential to create over 127,000 new job opportunities. The implementation of manufacturing projects, spearheaded by Miti and the Malaysian Investment Development Authority (Mida), has seen over 85% of approved projects already in progress. To expedite project implementation, investments were approved through various committees, and Mida’s Project Implementation and Facilitation Office (TRACK) plays a crucial role in ensuring swift execution.
Additionally, the government is committed to facilitating investors’ journeys through the Invest Malaysia Facilitation Centre, streamlining administrative processes and supporting local companies and SMEs to benefit from these investments.
