Manufacturing projects worth RM450.5 bln approved from 2016 to June 2021 – Lim

Manufacturing projects worth RM450.5 bln approved from 2016 to June 2021 – Lim

22 Nov 2021

The government approved 4,545 manufacturing projects with proposed investments totalling RM450.5 billion from 2016 until June 2021, according to Deputy International Trade and Industry Minister Datuk Lim Ban Hong.

Of the amount, foreign direct investment comprised RM278.8 billion or 61.9 per cent while direct domestic investment contributed RM171.7 billion or 38.1 per cent, he said.

”These investments are expected to generate 370,883 new job opportunities,” he said during the question-and-answer session in the Dewan Rakyat today.

He was replying to a question from Teh Kok Lim (PH-Taiping) who wanted to know the total investments in the manufacturing industry by state over the past five years.

Lim said the top five states — Johor, Selangor, Kedah, Penang and Sabah — received approved investments totalling RM326.8 billion.

“Johor received RM100.9 billion in approved investments in the manufacturing sector for the period of 2016 until June 2021, followed by Selangor (RM72.5 billion), Kedah (RM65.2 billion), Penang (RM53 billion) and Sabah (RM35.2 billion),” he said.

Lim also said the government would look at the five core parameters under the National Investment Aspirations (NIA) to boost investments, with emphasis on developing sophisticated products and services through high local research and development and innovation as well as on creating high skilled jobs.

Source: Bernama