Malaysia's MITI Eyes Approval For US$7.79 Billion Investments In 2H16

KUALA LUMPUR, Aug 11 (Bernama) -- The Malaysia's International Trade and Industry Ministry (MITI) hopes to get about 251 manufacturing and services projects with investments worth US$7.79 billion (RM31.3 billion, US$1 = RM4.01) approved in the second half of the year. Minister Mustapa Mohamed said the investments involve RM22.9 billion worth of manufacturing projects and RM8.4 billion in the services sector as at mid-June. "We hope these deals will be finalised by the Malaysian Investment Development Authority (MIDA) in the next few weeks and hopefully be approved by year-end," he told reporters after his special address at the Affin Hwang Capital Conference Series 2016. MIDA is the government's principal agency for the promotion of the manufacturing and services sectors in Malaysia. --BERNAMA