Judul : Najib: Malaysia on track to achieving 50% of investment target
link : Najib: Malaysia on track to achieving 50% of investment target
Najib: Malaysia on track to achieving 50% of investment target
Prime Minister Najib Razak says the economy has exceeded all expectations.
KUALA LUMPUR: Malaysia is on track to achieving 50% of its RM200 billion investment target for 2018 by end-month following Saudi Aramco’s RM28 billion investment, says Prime Minister Najib Razak.
Najib said about 40% or RM80 billion of the investments were already in the pipeline, on top of Saudi Aramco’s RM28 billion investment which would come in by the end of the month.
“Our economy exceeded all expectations, so much so that the World Bank had to revise its estimate for our growth upwards not once, not twice, but three times.
“No wonder then, the international business community is confident in Malaysia, with RM197 billion worth of private investments in 2017, of which RM54.7 billion were foreign direct investments,” he said in his keynote address at the InvestKL Annual Ministerial Event 2018 here today.
He said of these, approved global establishment projects totalled RM14 billion, with nine out of the 225 projects comprising principal hubs.
Najib said with principal hubs utilising a massive RM2.3 billion worth of ancillary services, they would have catalytic and multiplier effects on the local economy through job creation across many sectors such as real estate, hospitality, education, medical and tourism.
These multinational companies (MNCs) of various sectors were from the US, the UK, Germany, France, China and Japan.
“I need hardly tell you that this is what foreign direct investments (FDIs) are about. It does not mean selling your sovereignty, as a certain nonagenarian might try to tell you.
“The diverse nature of the FDIs coming into Malaysia clearly illustrates the attractiveness of our ecosystem and the ability of talented Malaysians to be at the forefront of Industry 4.0 and digitalisation,” he added.
Earlier, InvestKL Corp Sdn Bhd CEO Zainal Amanshah announced that it had attracted 73 MNCs as of end-2017, registering approved and committed investments of RM11.07 billion and creating 10,971 regional high-skilled jobs since its inception in 2011.
For 2017 alone, InvestKL managed to attract 12 MNCs with approved and committed investments of RM2.22 billion and 1,689 jobs created.
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