Kedah tops Q1 2024 with RM31.3 billion in approved investments

Kedah tops Q1 2024 with RM31.3 billion in approved investments

27 Jun 2024

Kedah secured the top spot in approved investments among the states for the first quarter (Q1) of 2024 with RM31.3 billion in investments.

Menteri Besar Datuk Seri Muhammad Sanusi Md Nor said the figure was part of the total RM83.7 billion approved investments in Malaysia for Q1 2024.

He said the approved investments in Kedah were for 51 projects, which are expected to create 2,262 jobs.

“Kedah tops the other states with the highest approved investment value, comprising RM30.9 billion in investments in the manufacturing sector and RM327.6 million in investments in the services sector.

“From the total, RM30.6 billion or 97.7 per cent are foreign direct investments (FDI) while the remaining RM656.2 million or 2.3 are domestic investments.

Sanusi said Kedah has large tracts of land that can be developed, positioning the state as a main investment destination.

He added that Prime Minister Datuk Seri Anwar Ibrahim is expected to witness the memoranda of understanding signing ceremony involving four main investors.

“The prime minister is also expected to launch the groundbreaking ceremony for Phase 4A of the Kulim Hi-Tech Park (KHTP),” he said.

Sanusi said the development of Phase 4 of KHTP covering 104 hectares of land was funded by a loan disbursed by the state government.

Source: NST