KUALA LUMPUR, May 15 — A total of 194 projects in the manufacturing sector were approved with the investments valued at RM7.5 billion during the January-March 2009 period.
Of the total, foreign investments accounted for RM3.3 billion, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed when he met with 91 ambassadors, high commissioners and trade, economic and commercial councellors here today.
Last year, foreign investments totalling RM46.4 billion were approved in 480 projects, he said.
Mustapa said the foreign investments increased for the fourth consecutive year compared with RM34.9 billion in 2007, RM19.8 billion in 2006 and RM16.9 billion in 2005.
“Malaysia attracted a higher level of investments in the manufacturing sector despite intense global competition for foreign direct investments and the economic slowdown in 2008,” he said.
He also said that investments in the manufacturing sector reached an all-time high in 2008, with 919 projects involving capital investment of RM63.4 billion approved.
During the meeting, Mustapa called on foreign missions to actively collaborate with the ministry to enhance and promote trade and investment relations.
He informed the foreign representatives that Malaysia is moving towards a higher-income economy by intensifying the development of industries with focus on new areas of services, technological enhancements, higher value-added products and activities, and innovative and creative human capital.
Efforts, he said, were also being made to integrate Malaysian industries and services into the regional and global networks.
Mustapa said the government was strengthening the public delivery system to create a vibrant, resilient and competitive society.
Malaysia, he said, is undertaking liberalisation in the process of free trade agreement (FTA) negotiations.
“The government will continue Malaysia’s business-friendly policies, underpinned by the uniting philosophy of 1Malaysia,” he added. — Bernama
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