The country remains an attractive investment destination with a favourable environment including the availability of excellent infrastructure, telecommunication services, financial and banking services, supporting industries, skills and trainable workforce, as well market opportunities offered through the 16 Free Trade Agreements that it has signed.
“Presently, Mida has also received RM47.7bil worth of potential investments into the country. These projects, once approved, are expected to be implemented within 2021 to 2022, ” it said. Kuala Lumpur, 8 February 2021 - The recent report by The Straits Times of Singapore on 5 February 2021 regarding foreign investors fleeing Malaysia is incorrect.
The FDI flows to developing economies decreased by 12 per cent. FDI into South East Asia contracted by 31 per cent due to a decline in investments to the largest recipients in the sub-region; inflows in Singapore fell by 37 per cent, Thailand by 50 percent, Indonesia by 24 per cent, Vietnam by 10 per cent, and followed by Malaysia by 68 per cent.
This is a considerable achievement given the Movement Control Order and Recovery Movement Control Order in Q2 and Q3 of last year, respectively. Based on the data from DOSM, Malaysia registered net FDI outflows in Q3, driven by the outflows from debt instruments amo unting to RM9.35 billion in the stipulated period.
The decline in 2020 mirrors the situation Malaysia experienced in 2009 after the subprime crisis in the US. It is the backbone of the manufacturing sector in Malaysia, contributing 39 per cent to total exports and 48 per cent to total manufacturing exports, not to mention the diverse ecosystem and supply chain the industry has created.
However, with Hyundai’s new manufacturing plant in Indonesia, the new Hyundai HQ is expected to be a fully-formed space with increased production and sales. The lower demand for Hyundai cars in Malaysia also contributed strongly to their relocation decision. This corporate decision was driven by the declining price of global solar cell market and the increase of raw material costs arising from global expansion by
MIDA has also recently approved a major integrated solar project that will further solidify Malaysia’s role in the global PV industry.For the whole of 2020, nine existing foreign-owned manufacturing companies with total investments of RM394.3 million in Malaysia had implemented business rationalisation measures.
While potential investors in the automotive industry are considering setting up their assembly plants in neighbouring countries, Malaysia remains a major producer of semiconductors and sensors for cars. Malaysia has one of the most comprehensive ecosystem in the region in the electric and electronics , Machinery and Equipment , aerospace, automotive, and medical devices industries, to name a few.The Straits Times also quoted the viewpoint of the head of the EU-Malaysia Chamber of Commerce and Industry on investors’ confidence in Malaysia.
These investments involved 2,935 projects and will create 64,701 jobs opportunities. FDIs accounted for almost 40 per cent . The manufacturing sector attracted the largest portion of approved investments for this period, contributing more than half or RM65.3 billion, followed by the services sector , and the primary sector .
This includes LAM Research, a US global Fortune 500 supplier of innovative wafer fabrication equipment and services tothe semiconductor industry that has chosen Malaysia to expand its global footprint by establishing its advanced technology production facility.A new project by Dexcom, a US company and leader in continuous glucose monitoring system will be producing their niche offerings in Malaysia.
MusicTribe, a US-based multinational leader for professional audio products and musical instruments, on the other hand, is leveraging Malaysia to set up an Industry 4.0-driven, fully robotised manufacturing facility in addition to their Principal Hub activities; Intel, a US Fortune 500 company will bring the latest Advanced Assembly and Test technology to Malaysia, marking a new milestone in the company’s 48-year history of investing and partnering in Malaysia;
Nippon Electric Glass , a leading Japanese manufacturer of specialty glass has also expanded their production capacity of glass tubing for pharmaceutical use in Malaysia given the demand for its products following the vaccine roll-out;
...this has got to be the funniest covid joke eh?
STOP SELLING LIES TO THE WORLD !