KUALA LUMPUR, Aug 29 – Malaysia attracted RM21.3 billion worth of foreign direct investments (FDIs) in the first half of this year, compared to RM12.1 billion in the same period last year.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said he believed the FDI for 2011 would exceed the RM29.3 billion attained last year.

He added that the “higher FDI inflow mirrored growing investor confidence, stemming from the government initiatives to stimulate economic growth.

“Introduction of the premier initiatives such as the Government Transformation Programme and Economic Transformation Programme have helped improve the overall business environment,” he added.

The minister also said approved foreign investments are primarily in the electrical and electronics industry, accounting for RM7.2 billion;, metal-based products (RM2.4 billion); food processing (RM1.8 billion); chemical and chemical products (RM1 billion); transportation apparatus (RM902.4 million); petroleum products, including petrochemical (RM520.8 million); and fabricated metal products (RM520.7 million).

The top investing countries are Japan, with RM2.4 billion total investments, the United States (RM2.3 billion); Singapore (RM1.9 billion);  the Netherlands (RM1.2 billion); and Taiwan (RM1.2 billion).