ID :
68764
Thu, 07/02/2009 - 20:45
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https://oananews.org//node/68764
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M`SIA RECEIVES RM4.2 BLN IN FDI FROM JAN-MAY THIS YEAR
KUALA LUMPUR, July 2 (Bernama) -- For the first five months of this year,
Malaysia received foreign direct investment (FDI) of RM4.2 billion
(US$1=RM3.50), said Minister of International Trade and Industry, Mustapa
Mohamed Thursday.
He said this was about 10 percent of the RM46.1 billion achieved for the
whole of last year.
Last year, the FDI at RM46.1 billion was an all time high and a 38 percent
increase, following the approval of several large projects involving foreign
participation.
Foreign investments accounted for 73.4 percent of the total investments of
RM62.8 billion approved.
Mustapa said in the medium term, Malaysia is expected to continue to draw
investments, boosted by the several liberalisation measures announced, with the
most recent being the deregulation of the Foreign Investment Committee (FIC)
guidelines.
Malaysia's commitment to Asean to reduce tariffs up to zero percent by 2010
could also help boost exports and investment.
"Our commitment to opening up our market will change investor sentiment," he
added.
Mustapa was speaking at the launch of Malaysia’s International Trade and
Industry Report 2008 here.
He noted that in the short term, Malaysia would face a challenging time
in terms of receiving investments and exports.
Reflecting on the export numbers for five months, the minister said it was
on a declining mode.
For the first four months, total exports reduced by 21.7 percent to RM162.5
billion.In April alone, Malaysia’s exports recorded a value of RM41.1 billion,
lower by 26.3 percent, on a year-on-year basis.
When compared with March 2009, the value of exports dropped by 5.6 percent
from RM43.6 billion.
However, Mustapa said the country was ready to face the challenges to
continue being a leading investment destination.
Meanwhile, the deputy-director general II of the Malaysian Industrial
Development Authority (MIDA) Wahab Hamid said, Malaysia is targeted to
receive some RM30 billion in total investments this year.
"It is half the amount from last year’s RM62.8 billion," he said on the
sidelines of the ceremony.
Asked whether MIDA was confident of achieving the target, Wahab said : "With
the initiatives being taken by the government to increase efficiency and the
investment climate, we should be confident.
"We know this year will be very tough.By using new methods,techniques,
approaches and developing our efforts, we feel Malaysia can still get the
desired amount in investments."
As for next year, Wahab said that as the challenging period remains,
Malaysia is projected to receive some RM27.5 billion in investments.
"We are back to the average annual target of RM27.5 billion, set
under the Third Industrial Master Plan (IMP3). The target is in place for us to
achieve the developed status by 2020,” he added
-- BERNAMA
Malaysia received foreign direct investment (FDI) of RM4.2 billion
(US$1=RM3.50), said Minister of International Trade and Industry, Mustapa
Mohamed Thursday.
He said this was about 10 percent of the RM46.1 billion achieved for the
whole of last year.
Last year, the FDI at RM46.1 billion was an all time high and a 38 percent
increase, following the approval of several large projects involving foreign
participation.
Foreign investments accounted for 73.4 percent of the total investments of
RM62.8 billion approved.
Mustapa said in the medium term, Malaysia is expected to continue to draw
investments, boosted by the several liberalisation measures announced, with the
most recent being the deregulation of the Foreign Investment Committee (FIC)
guidelines.
Malaysia's commitment to Asean to reduce tariffs up to zero percent by 2010
could also help boost exports and investment.
"Our commitment to opening up our market will change investor sentiment," he
added.
Mustapa was speaking at the launch of Malaysia’s International Trade and
Industry Report 2008 here.
He noted that in the short term, Malaysia would face a challenging time
in terms of receiving investments and exports.
Reflecting on the export numbers for five months, the minister said it was
on a declining mode.
For the first four months, total exports reduced by 21.7 percent to RM162.5
billion.In April alone, Malaysia’s exports recorded a value of RM41.1 billion,
lower by 26.3 percent, on a year-on-year basis.
When compared with March 2009, the value of exports dropped by 5.6 percent
from RM43.6 billion.
However, Mustapa said the country was ready to face the challenges to
continue being a leading investment destination.
Meanwhile, the deputy-director general II of the Malaysian Industrial
Development Authority (MIDA) Wahab Hamid said, Malaysia is targeted to
receive some RM30 billion in total investments this year.
"It is half the amount from last year’s RM62.8 billion," he said on the
sidelines of the ceremony.
Asked whether MIDA was confident of achieving the target, Wahab said : "With
the initiatives being taken by the government to increase efficiency and the
investment climate, we should be confident.
"We know this year will be very tough.By using new methods,techniques,
approaches and developing our efforts, we feel Malaysia can still get the
desired amount in investments."
As for next year, Wahab said that as the challenging period remains,
Malaysia is projected to receive some RM27.5 billion in investments.
"We are back to the average annual target of RM27.5 billion, set
under the Third Industrial Master Plan (IMP3). The target is in place for us to
achieve the developed status by 2020,” he added
-- BERNAMA
