RM71.4bil investments approved in first quarter

Malaysia approved RM71.4bil worth of investments in the first quarter of 2023 and the Malaysian Investment Development Authority (Mida) says the country attracted more foreign direct investments (FDIs) than domestic direct investments (DDIs) in the period.

“FDI contributed RM37.5bil, representing 52.5% of the total approved investments, while DDI accounted for RM33.9bil, or 47.5% of the total approved investments,” Mida said in a statement.

Mida noted the top five states that attracted the approved investments were Federal Territory of Kuala Lumpur with RM21.8bil, followed by Johor with RM10.6bil, Selangor with RM7.4bil, Perak with RM7.1bil, and Sabah with RM6.3bil.

“This underscores Malaysia’s continued appeal as an investment powerhouse. Both FDIs and DDIs almost match each other in value. From a domestic perspective, this clearly reflects renewed confidence in Malaysia’s growth prospects.

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We thank all our trusted corporate partners, strategic partners, bilateral and associate chambers, members and friends for the endless support and collaborations as we work together to build and strengthen partnerships within the EU-MY business community. We are truly #strongertogether.

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