UOB raises Malaysia’s 2020 approved investment forecast to RM138b | Malay Mail

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KUALA LUMPUR, Dec 11 — UOB Global Economics and Markets Research has raised its forecast of Malaysia’s 2020 full-year approved investment to RM138 billion, as the nation’s total investment approvals for the first nine months of 2020 (9M20) have surpassed its initial expectation of RM100...

For 9M20, the country’s total investments approved hit RM109.8 billion, despite the Covid-19 pandemic which had triggered a deep global downturn and delayed investment decisions worldwide. — Picture by Hari Anggara

“This is an encouraging sign that Malaysia remains an attractive investment destination, with ongoing efforts by the government to expedite the investment approval process while offering competitive incentives,” she said in a statement today. “This had partially cushioned the drag from services and primary sectors, which fell by 51.8 per cent y-o-y to RM42.8 billion and 73.5 per cent y-o-y to RM1.7 billion, respectively,” it said.

Meanwhile, Goh said that under Budget 2021, the government has unveiled a slew of initiatives to accelerate investments in Malaysia to spur economic growth and create higher multiplier effects in the economy.

 

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