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Malaysia approves of $8.8B manufacturing projects

Malaysia approves of $8.8B manufacturing projects
The Malaysian Industrial Development Authority (MIDA) expressed on Oct 3 that it approved of 428 manufacturing projects at an investment volume of US$8.8 billion (RM 28.3 billion) between January and July 2013. Among them, 64.3% came from foreign direct investment while the remainder was from domestic sources. “Mala
The Malaysian Industrial Development Authority (MIDA) expressed on Oct 3 that it approved of 428 manufacturing projects at an investment volume of US$8.8 billion (RM 28.3 billion) between January and July 2013. Among them, 64.3% came from foreign direct investment while the remainder was from domestic sources.

“Malaysia remains a competitive investment location and continues to attract manufacturing projects with significant levels of investments," according to MIDA.

Most of the foreign investments approved were for electronics production, basic metal products, petroleum and petrochemicals, food manufacturing, transport equipment, nonmetallic mineral products, and chemicals and chemical products, which accounted for 94.5% of the approvals. Leading sources of the investments were the U.S., Korea, Singapore, Japan and the Netherlands, accumulating to 82.4% of the total amount.

Five states of Malaysia garnered 80.2% of the total investment and secured 273 projects (63.8%) of the 428. In value terms, Johor received $2.7 billion; Sarawak, $1.7 billion; Malacca, $910 million; Sabah, $880 million; and Selangor, $820 million.
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