Record Investments in Malaysia
Malaysia approved a record investment of RM62.8 billion for the manufacturing sector last year, led by a big jump in foreign direct investments (FDIs).
However, International Trade and Industry Minister Tan Sri Muhyiddin Mohd Yassin cautioned that the outlook for 2009 is not good as the full effects of the financial meltdown in the US and Europe are not felt yet.
The total investments recorded by the Malaysian Industrial Development Authority (Mida) was for 919 projects and was 5 per cent more than the RM59.9 billion recorded in 2007.
"Projects involving foreign investments formed the lion's share of the total investments approved in 2008 with RM46.1 billion or 73.4 per cent, while domestic investments totalled RM16.7 billion," International Trade and Industry Minister Tan Sri Muhyiddin Mohd Yassin said at Mida's annual media briefing yesterday.
Australia led the pack, with approved investments of RM13.1 billion, followed by the US (RM8.7 billion), Japan (RM5.6 billion), Germany (RM4.4 billion) and Spain (RM4.2 billion).
Most of the projects approved by Mida last year were greenfield or new projects (548 projects) involving investments of RM42 billion.
The uncertain external conditions also did not deter the expansion and diversification plans of 371 projects in Malaysia involving investments of RM20.8 billion.
Muhyiddin said basic metal products industry (RM25.8 billion) recorded the highest level of investments approved in 2008, largely due to the approval of two new projects for the production of unwrought aluminium (RM12.5 billion) and the production of stainless steel slabs, stainless steel black coils and hot rolled stainless steel sheets (RM6.9 billion).
"Projects approved in 2008 will generate 101,173 employment opportunities, of which 72,056 or 71.2 per cent will be in the managerial, technical, supervisory and skilled manpower categories.
"The high percentage of jobs in these categories reflects the changing needs of industry, in focusing on higher value-added, higher technology and knowledge-intensive industries."
The services sector, which accounts for the largest share of the economy, attracted RM47.8 billion investments last year, a dip from RM66.4 billion in 2007.
Of the total, domestic investments accounted for 88.5 per cent or RM42.3 billion.
Major approvals in the services sector were in real estate (RM25.9 billion), financial services (RM4.8 billion), energy (RM4.4 billion), telecommunications (RM2.8 billion) and support services (RM2.2 billion).
These projects are expected to generate 35, 691 jobs.
In 2008, 158 new regional establishments with investments of RM209.7 million were approved, with a proposed annual sales turnover of RM1 billion.
They will provide job opportunities to about 1,000 Malaysians in the managerial, professional and technical levels.
However, International Trade and Industry Minister Tan Sri Muhyiddin Mohd Yassin cautioned that the outlook for 2009 is not good as the full effects of the financial meltdown in the US and Europe are not felt yet.
The total investments recorded by the Malaysian Industrial Development Authority (Mida) was for 919 projects and was 5 per cent more than the RM59.9 billion recorded in 2007.
"Projects involving foreign investments formed the lion's share of the total investments approved in 2008 with RM46.1 billion or 73.4 per cent, while domestic investments totalled RM16.7 billion," International Trade and Industry Minister Tan Sri Muhyiddin Mohd Yassin said at Mida's annual media briefing yesterday.
Australia led the pack, with approved investments of RM13.1 billion, followed by the US (RM8.7 billion), Japan (RM5.6 billion), Germany (RM4.4 billion) and Spain (RM4.2 billion).
Most of the projects approved by Mida last year were greenfield or new projects (548 projects) involving investments of RM42 billion.
The uncertain external conditions also did not deter the expansion and diversification plans of 371 projects in Malaysia involving investments of RM20.8 billion.
Muhyiddin said basic metal products industry (RM25.8 billion) recorded the highest level of investments approved in 2008, largely due to the approval of two new projects for the production of unwrought aluminium (RM12.5 billion) and the production of stainless steel slabs, stainless steel black coils and hot rolled stainless steel sheets (RM6.9 billion).
"Projects approved in 2008 will generate 101,173 employment opportunities, of which 72,056 or 71.2 per cent will be in the managerial, technical, supervisory and skilled manpower categories.
"The high percentage of jobs in these categories reflects the changing needs of industry, in focusing on higher value-added, higher technology and knowledge-intensive industries."
The services sector, which accounts for the largest share of the economy, attracted RM47.8 billion investments last year, a dip from RM66.4 billion in 2007.
Of the total, domestic investments accounted for 88.5 per cent or RM42.3 billion.
Major approvals in the services sector were in real estate (RM25.9 billion), financial services (RM4.8 billion), energy (RM4.4 billion), telecommunications (RM2.8 billion) and support services (RM2.2 billion).
These projects are expected to generate 35, 691 jobs.
In 2008, 158 new regional establishments with investments of RM209.7 million were approved, with a proposed annual sales turnover of RM1 billion.
They will provide job opportunities to about 1,000 Malaysians in the managerial, professional and technical levels.
by Rupa Damodaran (source: www.btimes.com.my)
