MIDA said as at Sept., it has 341 projects in pipeline with investments worth 50.9b rgt for manufacturing and services sectors. (Logo taken from MIDA’s website)

KUALA LUMPUR: Approved investments in services, manufacturing and primary sectors for first 6 months, drop 28.2% from 91.2b rgt in same period last year, Malaysian Investment Development Authority says in emailed statement.

* These investments involved 2,294 projects

* Decline mainly due to 41% drop in number of approved investment for services sector, in line with slow down in property market

** Approved investment for manufacturing also declined, partly due to large amount of investments that went into Pengerang and RAPID project in Johor state in 2014-2016

** In addition, Malaysia is unable to compete with a number of countries in the region which offer lower labor cost

* Confident investments in manufacturing will recover in next few months, given Malaysia’s established industrial ecosystems

** As at Sept., MIDA has 341 projects in pipeline with investments worth 50.9b rgt for manufacturing and services sectors