Malaysia’s 2021 investments hit record USD73bn

• Malaysia approved a record MYR306.5bn (USD73.3bn) in investments in 2021, an 83% y/y jump led by the manufacturing sector, the nation’s investment promotion agency said.
• The manufacturing sector secured MYR195.1bn worth of projects in 2021, 114% higher y/y, with the bulk of investment going to the electrical and electronics industry, the Malaysian Investment Development Authority (MIDA) said.
• The northern state of Penang, which is Southeast Asia’s semiconductor manufacturing hub, was the largest recipient of investments.
• Foreign direct investments accounted for about 68% of the approved investments, more than three times than in 2020. Top foreign investors included The Netherlands, Singapore, China, Austria and Japan.

External Link : https://www.reuters.com/business/malaysias-2021-investments-hit-record-73-billion-2022-03-08/