Malaysia’s Trade and Industry Ministry has reported that the country’s approved investments in the primary, services and manufacturing sector for Q1 reached MYR57.4bn (USD15.5bn), an 18.8 percent rise over the same period last year.
Manufacturing tops the list with MYR33.6bn (USD9bn) worth of investments during the period, followed by services sector at MYR22.3bn (USD6bn) and primary sector at MYR1.5bn (USD400m).
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the rise in Malaysia’s approved investments comes even as the World Bank has lowered its growth forecast for the economy this year.
He said the growth reflects the fait of investors in Malaysia as an attractive investment destination.
The World Bank ranked Malaysia as the 18th easiest place to do business out of 189 countries while the World Economic Forum ranked the country 20th most competitive out of 144 countries. – BusinessNewsAsia.com