RM5.2bil investments in digital economy from China, Singapore

Communications and digital minister Fahmi Fadzil says his ministry attracted RM28.4 billion of investments in the first half of 2023.

PETALING JAYA: Companies in China and Singapore have committed to invest a total of RM5.2 billion in Malaysia’s digital economy, says communications and digital minister Fahmi Fadzil.

He said five companies in China planned to invest RM3 billion, which would result in 579 jobs being created. Five other companies in Singapore had committed to invest RM2.2 billion, expected to create 414 job opportunities.

Fahmi said his ministry had managed to attract RM28.4 billion worth of investments in the first half of 2023, an increase of 279% over investments in the same period last year.

Fahmi’s announcement comes hours after Prime Minister Anwar Ibrahim thanked China’s foreign minister Wang Yi for his role in facilitating significant Chinese investments into Malaysia, such as petrochemical giant Rongsheng and carmaker Geely, along with other companies. - FMT