Malaysia approves RM254.7b investments in 9m

Malaysia approved investments worth RM254.7 billion in the first nine months of 2024, a 10.7 per cent increase from the previous year, the Malaysian Investment Development Authority (MIDA) said on Wednesday.

The surge in investments, driven by the services, manufacturing, and primary sectors, has led to the approval of 4,753 new projects, projected to create 159,347 jobs for Malaysians.

Domestic investments accounted for 58.1 per cent of total approved investments, valued at RM148.0 billion, indicating strong local business confidence in Malaysia’s economic outlook.

Meanwhile, foreign investments accounted for RM106.7 billion, representing 41.9 per cent of total approved investments. This balanced mix of domestic and foreign participation sets a strong foundation for Malaysia’s future economic growth and resilience.

(1 United States dollar = 4.43 Malaysian Ringgit)

Attribution: The Malaysian Investment Development Authority report

Subediting: M. S. Salama