Malaysia’s net inflows of foreign investment surged to 74.6 billion RM (16.17 billion USD) in 2022 from 50.4 billion RM in 2021, while investment abroad tripled to 58.6 billion RM from 19.4 billion RM, said the Department of Statistics Malaysia (DoSM) in a statement on June 16.

“The encouraging performance in both FDI and direct investment abroad (DIA) has shown the favourable economic situation in the country that attracted foreign companies to continue their investments and similarly, local companies to expand and diversify their business activities abroad,” it added.

FDI in the manufacturing sector rose by 17.1 billion RM to record net inflows of 49.5 billion RM, which comprised the largest chunk of FDI. The manufacturing sector attracted 66.4% of total investment, particularly in electrical, transport equipment, and other manufacturing sub-sectors.

Services was the second highest contributor, mainly in financial activities, followed by the mining sector, which was mainly in the form of equity and investment fund shares, the department said.

Asia has been the predominant source of FDI with a value of 449 billion RM, followed by Europe at 224.5 billion RM and the America at 187.3 billion RM as of the end of 2022./.

Source: Vietnam News Agency