A reported RM17.9 billion investment from China for the manufacturing sector from 2023 to the first half of 2024 has now been approved in Malaysia.
The approval is under the supervision of the Malaysian Investment Development Authority (MIDA) and the Ministry of Investment, Trade and Industry (MITI).
A statement issued by MITI on Monday yesterday explained that this investment includes 110 approved projects and is expected to generate approximately 14,343 new job opportunities.
So far, 54 of these projects which is 49.1% have been realized, with a total of RM3.8 billion and creating 5,303 jobs.
MITI described the achievement as proud, given that the implementation of approved manufacturing projects often takes between 18 to 24 months, depending on the scale of the project and the current economic situation.
This statement was issued in response to a parliamentary question from Roslan Hashim (PN-Kulim Bandar Baharu) regarding investment details from the recent trade and investment mission (TIM) to China, which has an estimated total of RM170 billion.
This investment is expected to be a catalyst to stimulate Malaysia's economic growth and strengthen the manufacturing sector, with many foreign companies increasingly interested in investing in the country.
