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188445
Tue, 06/14/2011 - 11:58
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https://oananews.org//node/188445
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INVESTMENTS IN MALAYSIA'S MANUFACTURING SECTOR RISE TO US$15.55 BIL, SAYS MITI
KUALA LUMPUR, June 14 (Bernama) -- Investments in Malaysia's manufacturing sector increased to RM47.18 billion (US$15.551 billion) last year, with 910 projects approved from the 766 projects worth RM32.64 billion (US$10.759 billion) recorded in 2009, says the International Trade and Industry Ministry (MITI).
Of the total investments approved, foreign investments accounted for 61.6 per cent or RM29.06 billion, while domestic investments made up 38.4 per cent or RM18.12 billion, it said in its Malaysia International Trade and Industry Report 2010 released Tuesday. (US$1=RM3.04)
MITI said foreign investments in the manufacturing sector increased 31.2 per cent to RM29.06 billion from RM22.14 billion in 2009, while domestic investments surged 72.7 per cent to RM18.12 billion from RM10.49 billion in the previous year.
It said foreign investments in new projects and expansion and
diversification projects amounted to RM11.71 billion and RM17.35 billion, respectively.
These investments were mainly in electrical and electronics (E&E) products with a total of RM11.84 billion; basic metal products (RM3.6 billion); non-metallic mineral products (RM2.24 billion); scientific and measuring equipment (RM2.18 billion); and chemicals and chemical products (RM1.74 billion).
MITI said the five leading sources of foreign investments were the United States, Japan, Hong Kong, Singapore and Germany, which jointly accounted for 77.9 per cent of total foreign investments approved.
On domestic investments, MITI said the 72.7 per cent increase was in response to the call by the government for domestic investors to assume a prominent role under the Economic Transformation Programme (ETP).
Of the total RM18.12 billion domestic investments, MITI said a major portion of RM12.18 billion was in new projects, while RM5.94 billion was in expansion and diversification projects.
These investments were mainly in petroleum products including petrochemicals with investments worth RM4.66 billion; transport equipment (RM2.78 billion); basic metal products (RM1.65 billion); electrical and electronics (RM1.45 billion); and food manufacturing (RM1.22 billion).
MITI said the top five states for approved investments were Penang with RM12.24 billion; Selangor (RM10.64 billion); Johor (RM7.46 billion); Sarawak (RM3.95 billion; and Perak (RM3.04 billion).
On the services sector, MITI said a total of 3,281 projects with investments amounting to RM36.74 billion were approved last year, with domestic investments totalling RM32.79 billion while foreign investments amounted to RM3.95 billion.
MITI said foreign direct investment inflows to Malaysia are expected to increase this year and beyond given the renewed business optimism and stronger intentions of investors to pursue foreign expansion.
The government will intensify efforts to maintain the country as the preferred investment destination by attracting quality investments into the manufacturing and services sectors, it said.
MITI also said the government would continue to promote domestic investments and nurture Malaysian companies to become global industry players.
The liberalisation of the services sector would create a business
environment conducive for attracting investments, generate higher value
employment opportunities and enhance sector competitiveness, it added.
-- BERNAMA
Of the total investments approved, foreign investments accounted for 61.6 per cent or RM29.06 billion, while domestic investments made up 38.4 per cent or RM18.12 billion, it said in its Malaysia International Trade and Industry Report 2010 released Tuesday. (US$1=RM3.04)
MITI said foreign investments in the manufacturing sector increased 31.2 per cent to RM29.06 billion from RM22.14 billion in 2009, while domestic investments surged 72.7 per cent to RM18.12 billion from RM10.49 billion in the previous year.
It said foreign investments in new projects and expansion and
diversification projects amounted to RM11.71 billion and RM17.35 billion, respectively.
These investments were mainly in electrical and electronics (E&E) products with a total of RM11.84 billion; basic metal products (RM3.6 billion); non-metallic mineral products (RM2.24 billion); scientific and measuring equipment (RM2.18 billion); and chemicals and chemical products (RM1.74 billion).
MITI said the five leading sources of foreign investments were the United States, Japan, Hong Kong, Singapore and Germany, which jointly accounted for 77.9 per cent of total foreign investments approved.
On domestic investments, MITI said the 72.7 per cent increase was in response to the call by the government for domestic investors to assume a prominent role under the Economic Transformation Programme (ETP).
Of the total RM18.12 billion domestic investments, MITI said a major portion of RM12.18 billion was in new projects, while RM5.94 billion was in expansion and diversification projects.
These investments were mainly in petroleum products including petrochemicals with investments worth RM4.66 billion; transport equipment (RM2.78 billion); basic metal products (RM1.65 billion); electrical and electronics (RM1.45 billion); and food manufacturing (RM1.22 billion).
MITI said the top five states for approved investments were Penang with RM12.24 billion; Selangor (RM10.64 billion); Johor (RM7.46 billion); Sarawak (RM3.95 billion; and Perak (RM3.04 billion).
On the services sector, MITI said a total of 3,281 projects with investments amounting to RM36.74 billion were approved last year, with domestic investments totalling RM32.79 billion while foreign investments amounted to RM3.95 billion.
MITI said foreign direct investment inflows to Malaysia are expected to increase this year and beyond given the renewed business optimism and stronger intentions of investors to pursue foreign expansion.
The government will intensify efforts to maintain the country as the preferred investment destination by attracting quality investments into the manufacturing and services sectors, it said.
MITI also said the government would continue to promote domestic investments and nurture Malaysian companies to become global industry players.
The liberalisation of the services sector would create a business
environment conducive for attracting investments, generate higher value
employment opportunities and enhance sector competitiveness, it added.
-- BERNAMA
