PETALING JAYA: Investment officials are optimistic that 2024 will be a stronger year for foreign investments in Malaysia, based on the growth this year which was slightly above target.
Tengku Zafrul Aziz, the minister for investment, trade and industry, said RM132.6 billion of investment was recorded in the first half of this year, or about 60% of the 2023 investment target, Bernama reported.
“The good news is that nearly half of it is domestic direct investment and the balance is foreign investment. We hope that this momentum can continue,” he told reporters after a meeting on the new industrial master plan.
He said there is a positive correlation between foreign and domestic investment because of the spillover effect.
On the new industrial master plan, he said the RM200 million allocated in the 2024 budget would provide support for small and medium enterprises in manufacturing and related services to move up the value chain.
He said there were four key missions to be tackled, one of which was “to advance economic complexity.
“We need to build strong local small and medium enterprises (SMEs) in manufacturing and related services to support the industry champions as well as to integrate value chains.
“So, for industries that are moving up the value chain, they would require support. They qualify for this kind of investment from the RM200 million budget allocation. But this is from the government’s side. There is also support from the private side, especially from both financial institutions and the capital market,” he noted. - FMT
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.