Foreign Investment Contributes Rm188.4 Bln, Domestic Investment Rm141.1 Bln In 2023

KUALA LUMPUR, April 1 (Bernama) -- Malaysia recorded foreign investment amounting to RM188.4 billion last year, marking a 15.3 per cent increase compared to 2022, said Deputy Investment, Trade and Industry Minister Liew Chin Tong.

He said domestic investment contributed RM141.1 billion, reflecting a 35.1 per cent increase compared to the previous year.

Foreign investment accounted for 57.2 per cent of the total investment of RM329.5 billion approved in 2023, while domestic investment represented the remaining 42.8 per cent.

"We aim to expedite the realisation of approved investments to maximise their spillover effects on the national economy.

"By actualising the approved investments, we can create better job opportunities with higher wages for Malaysians," he said during a question and answer session in the Dewan Negara Monday.

He was replying to Senator Datuk Lim Pay Hen's query regarding the amount of investment successfully secured by the government throughout 2023.

According to Liew, the country previously recorded high investment amounts without prioritising localisation.

"This time, the government aims to ensure that incoming investments generate quality jobs with higher wages and prioritises localisation to benefit local entrepreneurs from foreign investment," he added.

-- BERNAMA