KUALA LUMPUR: The government has announced the approval of RM489.5 billion in investments across the manufacturing, services, and primary sectors from 2023 to June 2024, as revealed by Deputy Minister of Investment, Trade and Industry, Liew Chin Tong. This substantial investment is expected to bolster the nation’s economic growth and development significantly.

According to BERNAMA News Agency, Deputy Minister Liew detailed that out of the total approved investments, RM262.9 billion, or 53.7 percent, are attributed to foreign investments, while domestic investments account for RM226.5 billion. Penang emerged as the leading recipient of foreign investment, attracting RM65.97 million, followed by Kedah with RM54.90 million, Kuala Lumpur with RM43.79 million, Johor with RM38.97 million, and Selangor with RM29.89 million.

The announcement was made in response to a question posed by Chong Chieng Jen (PH-Stampin) regarding the specifics of approved foreign direct investments by state in the Dewan Rakyat session. D
eputy Minister Liew underlined the commitment of the Ministry of Investment, Trade and Industry (MITI) and the Malaysian Investment Development Authority to continue their efforts in attracting high-quality investments. These efforts aim to enhance economic activities, create business opportunities, and provide high-value jobs for the benefit of the country and its citizens.