According to the Minister of Investment, Trade and Industry (MITI) Tengku Datuk Seri Zafrul Abdul Aziz, the increase in domestic investment shows that investor confidence is growing in Malaysia.
He also said that 45% of the RM225 billion total investment approved from January to September 2023 involved domestic investors.
Their level of confidence in the country has increased due to the positive economic spillover from local investment as stated during the Ada Apa program with NIMP 2030 – Maju Industri, Maju Ekonomi Rakyat in conjunction with the Madani Government's First Anniversary Program.
Tengku Zafrul also said that MITI will continue to focus on increasing the confidence of domestic investors to continue investing in Malaysia through the New Industrial Master Plan 2030 (NIMP 2030).
For foreign direct investment (FDI) and domestic direct investment (DDI), he said MITI will ensure that many other aspects need to be improved and that approved investments can be realized as soon as possible.
Malaysia has attracted RM225 billion worth of approved investments in the service, manufacturing and primary sectors from January to September 2023.
This shows an increase of 6.6% from the RM211 billion investment approved since last year.
He also said the government will continue to focus on investment based on vision rather than sectors in driving the national economy.
