Malaysia aims to secure RM200 billion in approved investments this year, said Malaysian Investment Development Authority (MIDA) Chief Executive Officer, Datuk Azman Mahmud.
He said currently, RM69.6 billion worth of investments were in the pipeline for both the manufacturing and service sectors.
“We hope by the third quarter of this year, there would be real projects from Japanese investors, as they have been the biggest investors for implemented projects,” Azman said during a media briefing after the presentation of Malaysia’s Investment Performance Report 2017 here Tuesday.
Azman said the Japanese investors were comfortable with the investment climate in Malaysia.
“We need to encourage them to view Malaysia as a base for quality investments and value-added technology-oriented industries,” he said, adding that by establishing a strong business eco-system within all the states in the country, Malaysia would be able to boost both foreign and domestic investments.
Meanwhile, Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed, said Malaysia had made attracting global companies to make the country a regional base a priority.
“The stronger economic growth in major economies, the gradual recovery in commodity prices and improved profits and prospects in various sectors could boost business confidence and thus multinational companies’ appetite to invest,” Mustapa said during the presentation of the Investment Performance Report 2017.
Mustapa said Malaysia’s economic strengths, such as stable and supportive business environment, strong fundamentals, a talented workforce, strategic location and an effective government that has embraced creativity and innovation would boost business confidence and thus attract more investments to Malaysia.