KUALA LUMPUR: The government, through the recently established joint-ministerial committee, has approved three investments worth RM2.2 billion.
Finance Minister Lim Guan Eng said of the three investors, two were local-based companies, while the third was an international company.
However, the minister declined to provide further details on the investments, saying that it would not be fair to the respective investors.
“I believe we should respect the investors. Let them announce (the details) themselves. The important thing is that we have established the joint-ministerial committee co-chaired by (International trade and Industry Minister) Datuk Darell Leiking and I which allows us to make decisions quickly.
“Before this, it might have taken months (to obtain approvals), now we can make the decisions through monthly meetings,” he told reporters after the National Economic Forum 2019.
The Finance Ministry and the International Trade and Industry Ministry recently formed the joint-ministerial committee to speed up decision-making while simplifying approval processes at the highest level, especially when it relates to high-tech and high-value investments.
“The committee co-chaired by Darrell and I demonstrates the government’s seriousness in attracting the highest quality investments that will provide jobs for all Malaysians,” he added.
In the first half of 2019, the Malaysian Investment Development Authority approved RM49.5 billion in foreign investments for all sectors – a 97.2 per cent jump from RM25.1 billion recorded in the same period a year ago. -– Bernama