KUALA LUMPUR: Malaysia attracted a record amount of approved investments worth RM42.8 billion in the manufacturing, services, and primary sectors, involving 910 projects from January to March 2022.
In a statement, the Malaysian Investment Development Authority (MIDA) said that foreign direct investments (FDI) remained the major contributor, at 65 per cent or RM27.8 billion, while investments from domestic sources contributed 35 per cent amounting to RM15 billion.
The agency said approved investments for this period would create 24,906 new jobs in the country.
According to Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali, Malaysia remains an attractive investment destination for global investors.
Azmin said the manufacturing sector would maintain its position as a critical pillar of the economy through 2022, generating significant multiplier effects on the nation's growth.
"Today, we are proud to have over 5,000 companies from more than 40 countries that have made Malaysia their location for manufacturing and related services operations," he said.
During the period, the manufacturing sector continued to assume an important role in driving the country's economic recovery, accounting for more than half (70.1 per cent) of total approved investments of RM30 billion.
The services sector followed this at RM12.7 billion (29.7 per cent) and the primary sector at RM0.1 billion (0.2 per cent).
FDI accounted for 65 per cent or RM27.8 billion of approved investments.
Of the total investments approved, Germany dominated foreign investments for the period January to March 2022 (RM8.9 billion), followed by Brunei (RM5.1 billion), the United States (RM3.9 billion), and Hong Kong (RM3.3 billion) and Japan (RM3.2 billion).
For projects approved by the state, five major states, namely Kedah, Penang, Selangor, Sabah, and Johor, contributed RM31.8 billion of the total investment approved from January to March 2022.
Azmin added that Malaysia would continue to focus on high growth and high value-added sectors that offer Malaysians exciting job opportunities.
"Aligning to the Twelfth Malaysia Plan (RMK12), Malaysia has been securing new investments that position well with the country's National Investment Aspirations (NIA) and Environmental, Social and Governance (ESG) principles.
"This will stand us in good stead to capture more economic opportunities. As a result, we look forward to seeing more significant growth for the second quarter of 2022," he added.