Malaysia Records A Historic High RM378.5 Billion in Investments, with 14.9% Y-O-Y Growth, Generating Over 207,000 Jobs In 2024

Malaysia recorded a commendable milestone with RM378.5 billion in approved investments in 2024, the highest in the nation’s history, marking a 14.9% year-on-year growth. Spanning 6,700 projects across key sectors, these investments will generate over 207,000 new jobs, reinforcing Malaysia’s position as a premier investment destination.

Domestic investments (DI) led the way in 2024, accounting for 55.0% of the total approved investments, valued at RM208.1 billion.

The top five (5) states that have recorded significant investment value include:

In contrast, foreign investments (FI) accounted for 45.0% of total approved investments, worth RM170.4 billion. The top five (5) sources of FI were:

The services sector continues to be a key driver of Malaysia’s economic expansion, securing RM252.7 billion in approved investments, accounting for 66.8% of total approvals. These investments are set to generate 119,083 new jobs, further reinforcing the sector’s leading role as the backbone of Malaysia’s economy.

A significant portion of the services sector’s investment comes from domestic sources, amounting to RM171.1 billion or 67.9%, with foreign investment contributing the remaining 32.1% or RM81.0 billion. This investment mix highlights the sector’s appeal to both local and international investors.

Malaysia remains at the forefront of sustainable industrial development, with green technology integration playing a pivotal role in shaping the nation’s future. One such initiative is NUR Renewables’ RM250.0 million solar farm in Kulim, which combines clean energy solutions with Industry 4.0 technology. This project sets new benchmarks for sustainable industrial practices by incorporating advanced digital systems to optimise energy efficiency and enhance renewable energy adoption.

Further strengthening Malaysia’s logistics and supply chain ecosystem, Singapore-based YCH Group is investing RM500.0 million in Supply Chain City Malaysia in Bukit Raja, Selangor. This strategic development leverages Malaysia’s robust infrastructure and prime location to enhance the nation’s standing as a regional logistics powerhouse.

Beyond the services sector, Malaysia’s manufacturing sector continues to demonstrate strength and resilience, securing RM120.5 billion in approved investments, accounting for 31.8% of total approved investments in 2024. These investments are spread across 1,108 projects and are set to generate close to 88,000 new jobs, of which 82.2% (72,116 jobs) are specifically for Malaysians.

The primary sector registered approved investments of RM5.3 billion, constituting 1.4% of the total approvals. Driven by 67 projects, it anticipates creating 463 new jobs, with a focus on mining (RM4.5 billion), agriculture (RM766.8 million) and plantation and commodities (RM71.6 million).

Malaysia’s investment landscape continues to thrive with strong investment pipelines and high-potential projects, reinforcing its position as a top investment destination. As of 31 January 2025, MIDA is overseeing a robust portfolio of 1,049 projects with proposed investments totaling RM58.8 billion.

• The services sector leads with 995 projects, valued at RM31.8 billion.
• The manufacturing sector follows closely, with 54 projects worth RM27.0 billion.

Additionally, RM63.5 billion in high-potential investment leads are currently under active negotiations by MIDA, reflecting strong investor confidence in Malaysia’s economic fundamentals.

Malaysia’s investment success lies in both approvals and effective implementation. Key initiatives like the National Investment Council, the Investment and Trade Coordination Action Committee, and the Invest Malaysia Facilitation Centre enhances the investment ecosystem. MITI and MIDA actively engage stakeholders to facilitate projects.

From 2021 to December 2024, the National Committee on Investment approved 3,494 manufacturing projects:

• 84.5% (2,950 projects) are in various implementation stages.
• 13.0% are in the planning phase.
• Only 2.5% were abandoned, demonstrating Malaysia’s high project realisation rate.

Malaysia’s transformative investment journey represents a bold step towards a resilient, innovative, and prosperous future. With a well-positioned policy framework, proactive facilitation, and unwavering investor confidence, Malaysia is poised to strengthen its global standing as a premier investment destination.