Nearly RM18 bln in investments to be finalised from 2024 trade missions

Nearly RM18 bln in investments to be finalised from 2024 trade missions

27 Feb 2025

RM17.9 billion in investments will be finalised this year from 16 trade and investment promotion missions (TIM), including 15 official visits led by Prime Minister Datuk Seri Anwar Ibrahim last year.

The Investment, Trade, and Industry Ministry’s statement, read by Deputy Education Minister Wong Kah Woh, RM59.1 billion in investments is also targeted to be finalised between 2026 and 2027.

“RM37.6 billion in investments has been approved in 2024,” he said in a response to V. Sivakumar (PH-Batu Gajah) about the National Investment Strategic Plan during a Special Chamber session in the Dewan Rakyat today.

Countries visited in 2024 include Germany, France, Italy, Australia, Saudi Arabia, the United Arab Emirates, Qatar, Japan, India, Singapore, Thailand, and Pakistan.

Wong said RM28.9 billion in investments is expected to be finalised this year through 12 TIMs, including eight official visits in 2023.

“RM40.2 billion in investments has been approved in 2024, while RM283.7 billion is targeted to be finalised between 2026 and 2027,” he said.

Wong explained that the ministry and the Malaysian Investment Development Authority are actively negotiating with potential companies identified during the TIMs in 2023 and 2024 to ensure investment decisions can be finalised soon.

Among the announced projects are GDS Services Ltd, which will invest RM4.5 billion in building a hyperscale data centre campus over 10 years, and Enovix Malaysia Sdn Bhd, which will invest RM5.8 billion over 15 years to establish its first facility in Malaysia.

There is also a collaboration between Zhejiang Geely Holding Group and DRB-HICOM, focusing on the planning and development of the Automotive High-Technology Valley in Tanjung Malim, Perak.

“This collaboration aims to attract high-tech automotive investments, with a collective investment estimate of RM32 billion from various parties, including foreign and local investors, as well as job creation by 2030,” he added.

Source: Bernama