Non-Oil Sectors Growth Drives Confidence Of Malaysian And Foreign Investors

KUALA LUMPUR, July 13 (Bernama) -- Strong growth in non-oil sectors will continue to build confidence among both Malaysian and international investors, global publishing, research and consultancy firm Oxford Business Group (OBG) report said. OBG Chief Executive Officer and Editor-in-Chief Andrew Jeffreys said that Malaysia's history of attracting 10 per cent of all foreign direct investment (FDI) destined for Southeast Asia highlighted the country's achievements and its commitment to regional competition despite certain setbacks. "The total volume of FDI into the country fell 44 per cent to US$8.7 billion in 2015, representing a multi-year low due to challenges in the upstream segment of the country's energy sector. "However, strong growth in non-oil sectors such as manufacturing and renewable energy will continue to build confidence among both Malaysian citizens and the international investment community," Jeffreys said in a statement Tuesday. OBG Managing Editor (Asia) Paulius Kuncinas said that Malaysia’s latest efforts to create a more sophisticated business environment would sit well with investors. "Malaysia’s central location, advanced infrastructure and liberal trade environment make it an attractive proposition to investors. "Our report conveys the opportunities emerging across the country’s sectors, and I look forward to seeing how the country continues to expand its knowledge economy," he added. -- BERNAMA