Friday, 29 Jan 2021 03:53 PM MYT
BY KEERTAN AYAMANY
Earlier this week, the United Nations Commission on Trade and Development reported that the inflow of FDI into Malaysia dropped by 68 per cent to US$2.5 billion last year. Picture by Hari Anggara
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KUALA LUMPUR, Jan 29 ― In response to reports of falling foreign direct investments (FDI), the Malaysian Investment Development Authority (Mida) today announced that it has identified 240 high-profile foreign investment projects in the manufacturing and services sectors, with a combined potential investment value of RM81.9 billion.
Mida said the projects are still being negotiated, adding that it has also “received and evaluated” RM47.7 billion worth of other potential investments.
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The Malaysian Investment Development Authority (MIDA) said it has identified 240 high-profile foreign investment projects valued at RM81.9 billion which are in Malaysia’s cross-hairs for 2021.
These projects, according to MIDA, are in the manufacturing and services sectors.
So far, MIDA said that Malaysia has received and evaluated RM47.7 billion worth of potential investments into the country.
These projects, once approved, are expected to be implemented within the year 2021 to 2022.
Malaysian Investment Development Authority
Although Covid-19 has negatively affected the Foreign Direct Investments (FDI) coming into the country, MIDA said that Malaysia still remains steadfast to accelerate quality investments.