Jan-Sept FDIs in Malaysia jump to RM17b
Foreign direct investments (FDIs) in Malaysia leaped to RM17.1 billion for the period from January to September 2010 compared to just RM5 billion recorded for the whole of last year, International Trade and Industry Minister Datuk Mustapa Mohamed said today.
He said the amount was a clear reflection of increase in confidence in the Malaysian economy.
"Malaysia recorded a higher net inflow of RM6.2 billion for the third quarter of 2010, compared with RM5.1 billion and RM5.9 billion recorded in the first and second quarter respectively.
"The investments in the third quarter were mainly in the finance and insurance, manufacturing and oil and gas sectors," he said, dismissing suggestions that the 81 per cent drop in FDI last year was due to the government's poor governance.
Mustapa said the government would promote Malaysia more aggressively as more and more foreigners were interested to invest in the country.
"As the growth in Asean picks up, it would provide a lot of opportunities in the region in terms of trade, business and tourism," he said.
He said many Malaysian companies had also begin to venture into opportunities around the region and were benefiting from the process of trade with the flow of people and connectivity generated.
"As these countries grow, we believe investments within Asean are going to play a major role in Asean moving forward," he said.
On bilateral ties between Malaysia and South Korea, he said the relevant parties would begin discussions soon on a possible free trade agreement (FTA).
"We are supportive of the FTA, and there is no timeline yet for the discussions but some initial scoping exercise and basic work needs to be done first before we move on to something concrete," he said. -- Bernama
"We hope to achieve at least RM20 billion in FDIs by end of the year. It is hard to estimate but we hope the momentum can sustain for the rest of the year," he said after delivering a keynote address at the annual Young Corporate Malaysians Summit in Kuala Lumpur.
He said the amount was a clear reflection of increase in confidence in the Malaysian economy. "The various initiatives taken by the government to transform the economy have gone down well with the investor community and money is coming back into the country.
"Malaysia recorded a higher net inflow of RM6.2 billion for the third quarter of 2010, compared with RM5.1 billion and RM5.9 billion recorded in the first and second quarter respectively.
"The investments in the third quarter were mainly in the finance and insurance, manufacturing and oil and gas sectors," he said, dismissing suggestions that the 81 per cent drop in FDI last year was due to the government's poor governance.
Mustapa said the government would promote Malaysia more aggressively as more and more foreigners were interested to invest in the country.
"As the growth in Asean picks up, it would provide a lot of opportunities in the region in terms of trade, business and tourism," he said.
He said many Malaysian companies had also begin to venture into opportunities around the region and were benefiting from the process of trade with the flow of people and connectivity generated.
"As these countries grow, we believe investments within Asean are going to play a major role in Asean moving forward," he said.
On bilateral ties between Malaysia and South Korea, he said the relevant parties would begin discussions soon on a possible free trade agreement (FTA).
"We are supportive of the FTA, and there is no timeline yet for the discussions but some initial scoping exercise and basic work needs to be done first before we move on to something concrete," he said. -- Bernama
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