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Date [ 2015-03-19, 05:20 ]

An overall view of the country’s investment performance.

MIDA - leading the investment brigade.

(Kuala Lumpur=Koreanpress) Nancy Joseph = Despite the prophets of doom, Malaysia has managed to record another remarkable year in terms of investment for 2014.

This has been due to the overall collaboration by Malaysia’s foremost body for investments, namely the Malaysian Investment Development Authority (MIDA) together with its partners such as the economic corridors, mainly Iskandar Malaysia, Koridor Utara, Sarawak SCORE and many more have been instrumental in making Malaysia break a new record in terms of investments.

In the recent article titled ’ On the rise: the fastest growing investment destinations of 2014’ by the fDi Magazine, Malaysia is within the top five countries which include Egypt, India, Vietnam and Philippines. Malaysia is currently the 15th most popular destination for FDI worldwide (up from 27th position in 2013) and in Southeast Asia, is second only to Singapore, ahead of Indonesia, Thailand and other ASEAN countries.

Global foreign direct investments (FDI) for 2014 was moderate at USD1,260 billion as compared to USD1,363 billion in 2013, a decline of 8% as a result of uneven economic recovery across the globe.

For Malaysia, FDI into the country dropped by 8% in 2014 to RM35,085 million versus RM38,238 million in 2013 taking cues from the weak recovery around the globe especially in the Eurozone area and Japan as well as China.

On the contrary, despite the lower global direct investment flow, approved investments in Malaysia for 2014, stood at RM235.9 billion, setting a new record level. For 2013, approved investments were at RM219.4 billion.

A breakdown of these investments shows that a total of 5,942 projects were approved in 2014, with domestic investors leading foreign investors in the ratio of 72.6% to 27.4%. The approved projects have created a total of 178,360 employment opportunities within various sectors.

Malaysia had as its top foreign investors  Japan, the European Union and Singapore with the concentration in the manufacturing sector in 2014. The FDIs at 70.1% came from Asia, with 24.5% from the EU and USA.

abc@koreanpress.net

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