Statistics from the Malaysian Investment Development Authority (MIDA) showed that 3,037 projects were approved in the first nine months of this year with a total investment value of 177.8 billion RM (42.3 billion USD), an increase of 51.5 percent compared to the same period last year. (Photo: thestar.com.my)
Kuala Lumpur (VNA) – Investment in Malaysia has increased remarkably in spite of the negative impact of the COVID-19 pandemic.
Statistics from the Malaysian Investment DevelopmentAuthority (MIDA) showed that 3,037 projects were approved in the first ninemonths of this year with a total investment value of 177.8 billion RM (42.3billion USD), an increase of 51.5 percent compared to the same period lastyear. This was the period that the COVID-19 outbreak hit its peak with 24,599new infections detected on August 26 alone in Malaysia.
According to MIDA, by sector, the manufacturing sectorattracted the most investment with 522 projects with 103.9 billion RM or 58.4 percent ofthe total, representing an increase of more than 60 percent over the sameperiod last year. It was followed by the services sector with 57.8 billion RM (32.5percent) and the primary sector with 16.1 billion RM (9.1 percent).
Investment for the cultivationand consumption sector reached 16.1 billion RM. Accounting for only 9.1 percent, but it increasedby 8.3 times compared to last year’s figure. Capital poured into this fieldmainly comes from domestic investors with 12.6 billion RM, or 78.3 percent.
Foreign direct investment(FDIs) for the period totalled 106.1 billion RM, accounting for 60 percent, withsome 85.3 percent of the amount or 90.6 billion RM coming from Singapore,China, Austria, Japan and the Netherlands.
FDI is mainly poured into the manufacturingsector. The domestic investment amounted to 71.7 billion RM, or 40.3 percent, mainlypoured into the service industry, cultivation and consumption.
Thꩵe localities attracting the most investment from January 1to September this year are Kedah, Sarawꦗak, Kuala Lumpur, Selangor and Pahangwith a total investment value of 134.8 billion RM, accounting for 75.8 percent./.
Efforts of the Malaysian government to curb the spread of COVID-19 pandemic is beginning to prove effective as a result of the cooperation of all parties as well as the implementation of effective strategies, said Prime Minister Datuk Seri Ismail Sabri Yaakob.
Malaysia's Department of Statistics (DOSM) has released a Malaysia Economic Statistics Review (MESR), which predicted that the country’s economy will become better despite negative impacts from restrictions due to COVID-19.
Malaysia's unemployment rate decreased to 4.3 percent in October, the lowest rate since April 2020, according to the Department of Statistics Malaysia (DOSM).
The Asian Development Bank (ADB) has downgraded Malaysia's gross domestic product (GDP) growth forecast to 3.8 percent from 4.7 percent for 2021 and 5.9 percent from 6.1 percent next year.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
The new framework is designed to ensure that incoming investments deliver tangible national benefits, such as the creation of high-quality jobs for Malaysians and the development of local company ecosystems and technologies.
Singapore led with a total of 8.8 billion USD in realised investment, followed by Hong Kong and mainland China, Malaysia, and Japan with 8 billion USD, 1.7 billion USD and 1.6 billion USD, respectively.
Thai Acting Prime Minister Phumtham Wechayachai on August 7 outlined his strategy for tackling drug problems in Thailand, aiming for a "Zero Drugs Thailand" within three months.
The US has described Malaysia's role as Chair of the Association of Southeast Asian Nations (ASEAN) as vital in helping ease tension between Thailand and Cambodia.
Statistics from the Malaysian Investment Development Authority (MIDA) showed that 3,037 projects were approved in the first nine months of this year with a total investment value of 177.8 billion RM (42.3 billion USD), an increase of 51.5 percent compared to the same period last year. (Photo: thestar.com.my) 
