Malaysia sees record-high foreign investment in manufacturing in 2006
14/2/2007 15:59
Foreign investment in approved manufacturing projects in Malaysia reached
20.2 billion ringgit (US$5.46 billion) in 2006, the highest level chalked up to
date, local press reported today. The figure is a big improvement compared
with 17.9 billion ringgit (US$4.84 billion) in 2005 and 13.1 billion ringgit
(US$3.54 billion) in 2004. International Trade and Industry Minister Rafidah
Aziz announced the figures yesterday when releasing the Malaysian Industrial
Development Authority's annual report on the performance of the manufacturing
and services sectors. "Despite the increasing global competition, Malaysia
continues to attract global foreign investment, reflecting the country's
cost-competitiveness as a manufacturing and export base," Rafidah was quoted as
saying by the New Straits Times. Taking into account both local and foreign
investments, a total of 1,077 projects involving investments of 46 billion
ringgit (12. US$43 billion) were approved last year compared with 31 billion
ringgit (US$8.38 billion) in 1,027 projects in 2005. The figures exceeded
Malaysia's Third Industrial Master Plan ( 2006-2020) target. Projects approved
during the period are expected to create 88,952 jobs, of which 66 percent will
be in the managerial, technical, supervisory and skilled manpower
categories. Japan led the foreign direct investments (FDIs) inflow last year
with 4.4 billion ringgit (US$1.19 billion), followed by the Netherlands, 3.3
billion ringgit (891.89 million U. S. dollars), Australia, 2.6 billion ringgit
(US$702.7 million), the United States, 2.5 billion ringgit (675.68 million U. S.
dollars) and Singapore, 1.9 billion ringgit (US$513.51 million).
Xinhua
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