The Malaysian Investment Development Authority will continue to intensify promotional efforts at boosting investment in the production of higher value-added palm oil-based products.
The government agency noted that being the second-largest palm oil producer and exporter globally, Malaysia assumes an important role to sustainably fulfil the global need for edible oils and fats. In the report, Mida said for 2018, a total of 12 projects with investment totalling RM384 million were approved in the oil palm products industry.Domestic investment dominated the industry, totalling RM332.7 million, with foreign direct investment amounting to RM51.3 million.
This was a slight drop compared to 2017, with exports valued at RM77.8 billion, but a slight increase from 2017’s export figure of 24 million tonnes.