RM141 billion in foreign investments approved for manufacturing sector

RM141 billion in foreign investments approved for manufacturing sector

The total investments from 2013 to 2017 are expected to generate 222,000 job opportunities.

Free Malaysia Today
Chua Tee Yong says the government is taking proactive measures to create a more conducive investment environment.
KUALA LUMPUR:
A total of RM141 billion in foreign investments was approved for the manufacturing sector from 2013 to 2017, the Dewan Rakyat heard today.

Deputy International Trade and Industry Minister Chua Tee Yong said the investments included RM30 billion in 2013, RM39.6 billion in 2014, RM21.9 billion in 2015, RM27.4 billion in 2016 and RM21.6 billion in 2017.

“The total investments involved 1,801 projects which are expected to generate 222,000 employment opportunities.

“Among the countries that invested in the manufacturing sector during the period are Japan, Singapore, China, South Korea, the US and Germany,” he said in response to a question from Liang Teck Meng (BN-Simpang Renggam).

Liang wanted to know the total foreign direct investments in the country between 2013 and 2017 and Putrajaya’s strategy to attract foreign investors.

Chua said the government relied on proactive measures to create a more attractive and conducive investment environment in the country, such as improving current policies and liberalising related policies.

The government, he said, also introduced initiatives to attract quality investments apart from emphasising capital intensive and high technology industries as well as research and development.

Chua said the ministry was also working with its network of offices in the US and China to monitor and look for solutions to the trade tension between the two countries.

“Malaysia understands the US and China are important markets for the country. This development will not only give negative impact in terms of trade to Malaysia, but other countries as well.

“Therefore, Malaysia, together with other Asean member countries, will play our role to address the situation,” he said to a supplementary question from Abdul Khalid Ibrahim (independent-Bandar Tun Razak) on steps taken by the government to handle the looming trade war between the US and China.

 

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