In 2024, Malaysia approved investments totaling 378.5 billion ringgit ($85.8 billion), a 14.9% increase from 2023. Domestic investors contributed 208.1 billion ringgit, while foreign investments reached 170.4 billion ringgit, with the United States as the top foreign investor. The services sector received 66.8% of total investments, highlighting strong economic confidence despite global challenges.
In 2024, Malaysia achieved an unprecedented level of approved investments, totaling 378.5 billion ringgit (approximately $85.8 billion), marking a significant 14.9% increase from the previous year. This record, announced by the Minister of International Trade and Industry, Tengku Zafrul Aziz, underscores the country’s strong investment climate, bolstered by a surge in digital investments from prominent technology firms, including Google.
The vast majority of these investments—208.1 billion ringgit—originated from domestic investors, while foreign investments contributed 170.4 billion ringgit. The United States emerged as the leading foreign investor with a total of 32.8 billion ringgit, closely followed by Germany at 32.2 billion ringgit, China at 28.2 billion ringgit, and Singapore at 27.3 billion ringgit.
The services sector was the primary beneficiary of these investments, receiving 66.8% of the total, amounting to 252.7 billion ringgit. Minister Tengku Zafrul emphasized that despite ongoing global economic challenges, businesses remain optimistic about a stable operational environment in Malaysia over the next quarter, reflecting confidence in the nation’s economic resilience.
Malaysia’s remarkable achievement in attracting a record 378.5 billion ringgit in approved investments in 2024 illustrates its robust economic position and the increasing confidence of both domestic and foreign investors. With the services sector leading in investment allocation, Malaysia is poised for sustained economic growth, supported by significant contributions from major global technology firms.
Original Source: money.usnews.com
