Tengku Zafrul: Realised investments to be announced early April
22 Mar 2024
Figures of realised investments in Malaysia for 2023 will be made public early next month, says Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
The Investment, Trade and Industry Minister said the approved investments for last year amounted to RM329.5bil, which was the highest in history.
“We will be announcing in the first week of April an update (on realised investments).
“The numbers are being finalised to show how much (investments) has started in terms of the total sum,” said Tengku Zafrul during the Concorde Club meeting at Wisma Bernama yesterday.
The Concorde Club is an informal group of editors and senior journalists who meet with politicians and key policy makers.
Previous guests of the Concorde Club, led by SMG advisor and Bernama chairman Datuk Seri Wong Chun Wai, included Prime Minister Datuk Seri Anwar Ibrahim, Penang Chief Minister Chow Kon Yeow, Opposition leader Datuk Seri Hamzah Zainudin, former premier Datuk Seri Najib Razak and ministers Datuk Seri Mohamad Hasan and Anthony Loke.
According to Tengku Zafrul, the realisation of approved investments usually takes between two and three years.
He said that on average, the annual implementation performance from 2021 to 2023 showed that more than 85% of approved manufacturing projects had been executed.
To ensure that approved investments are realised, the minister said it is imperative to focus on execution.
“That is why the Prime Minister, through the national investment council, is pushing all parties in the government, especially ministries, state governments and local councils to speed up the process,” said Tengku Zafrul.
At present, he said Malaysia is seeing a positive flow of investments and the country should capitalise on its strength, among them the green economy and semiconductor industry.
The approved investments of RM329.5bil last year was 23% higher compared to 2022, which recorded RM264.6bil.
The total approved investments involved 5,101 projects and could potentially create over 127,000 new job opportunities for the people.
The services sector recorded the highest investments, contributing over half or 51.1% of total approved investments at RM168.4bil, followed by the manufacturing sector at RM152bil (46.1%) and primary industries at RM9.1bil (2.8%).
Source: The Star
