KUALA LUMPUR, September 6 — Malaysia’s economy continues to demonstrate its resilience, attracting RM160 billion in approved investments during the first half of 2024, a remarkable 18% increase compared to the same period last year. This surge in investments across the services, manufacturing, and primary sectors is expected to generate over 79,000 new job opportunities from 2,948 approved projects, reflecting a strong vote of confidence from both domestic and foreign investors.
Domestic investments led the way, contributing RM85.4 billion or 53.4% of the total approved investments, while foreign investments accounted for RM74.6 billion, marking a year-on-year growth of 19.1% and 16.7% respectively. The services sector emerged as the frontrunner, attracting RM97.2 billion, which constitutes 60.7% of the total approvals, followed by the manufacturing sector with RM60.1 billion, a significant 34.1% increase from last year.
Minister of Investment, Trade, and Industry, YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, attributed this strong performance to Malaysia’s pro-investment policies and the country’s strategic efforts under frameworks like the New Industrial Master Plan 2030 and the National Semiconductor Strategy. With Austria leading foreign investments at RM30.1 billion, followed by Singapore, China, the Netherlands, and Taiwan, Malaysia is set to further solidify its position as a key regional hub for manufacturing and services, driving sustainable economic growth and creating high-quality job opportunities for Malaysians.
