KUALA LUMPUR: Malaysia has approved a total of RM254.7 billion investments in the first nine months of 2024 (9M 2024).
This marks a steady 10.7 per cent increase from RM230.2 billion in the same period last year, according to Malaysian Investment Development Authority (MIDA).
The agency said the strong performance reflects Malaysia's sustained economic momentum, propelled by the services, manufacturing, and primary sectors.
The services sector led with RM160.7 billion, followed by manufacturing (RM88.8 billion), and primary sectors (RM5.2 billion).
"A total of 4,753 new projects have been approved during this period, set to create 159,347 new jobs for Malaysians. "This strong performance underscores Malaysia's enduring appeal to investors, despite the threat of global uncertainties," it said in a statement today.
According to MIDA, the growth in job creation surged 75.9 per cent while project approvals rose 20.7 per cent year-on-year.
It said that domestic investments (DI) accounted for 58.1 per cent (RM148 billion) of total approvals, while foreign investments (FI) contributed 41.9 per cent (RM106.7 billion).
The top-performing states by investment value are Selangor (RM66.8 billion), Kuala Lumpur (RM63.9 billion), Kedah (RM34 billion), Pulau Pinang (RM22.6 billion), and Johor (RM18.1 billion).
The top five foreign investments came from Germany (RM30.9 billion), China (RM10.8 billion), United States (RM8.4 billion), Netherlands (RM4.9 billion) and Singapore (RM4.4 billion).
The National Investment Aspirations (NIA) sector contributed RM119.9 billion, representing 47.1 per cent of total approved investments across various economic sectors.
Investment, Trade and Industry Minister (MITI), Tengku Datuk Seri Zafrul Abdul Aziz said the total approved investment reflects the unwavering confidence investors have in the nation's economic policies and direction.
He stated that the surge in investments and jobs creation speak volumes domestic strategic frameworks and the concerted efforts to attract high-impact investments for sustainable growth.
"Clearly, Malaysia's policy consistency and adaptability have encouraged investors to implement longer-term commitments, while equipping us with the capacity to navigate evolving global challenges effectively."
"As we progress towards our goal of becoming one of the top 30 global economies by 2033, the Madani Government is steadfast in its commitment to fostering an environment where both domestic and international investors can thrive."
"Our focus extends beyond achieving investment targets; we are laying the foundation for a sustainable and inclusive economy that will empower all Malaysians," Tengku Zafrul said.