Kuala Lumpur: The Malaysian government is targeting 20 percent growth in foreign direct investment (FDI) and domestic direct investment (DDI) this year, up from the RM163.3bn and RM101.3bnrecorded in 2022, respectively. Malaysia’s International Trade and Industry Minister Tengku Zafrul Abdul Aziz said that although this is a tall order given the challenges, investments are more long-term in nature and companies that look into Malaysia would look at a longer time horizon.
“What is important is to keep the momentum going and focus on the right sectors and industries,” he said during a panel session at Invest Malaysia 2023. Malaysia approved total investments worth RM264.6bn in 2022 with the service sector accounting for the largest share of the pie, followed by the manufacturing and primary sectors.
