Investors show confidence in Malaysia: Trade Minister

08:25, January 21, 2011      

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Investor confidence has returned strongly to Malaysia when a report by the United Nations (UN) noted that a total foreign direct investment (FDI) inflow of seven billion U.S. dollars into Malaysia was recorded last year.

This was compared with only 1.4 billion U.S. dollars in 2009, Malaysian International Trade and Industry Minister Mustapa Mohamed said in a statement in Kuala Lumpur on Thursday, citing the UN Conference on Trade and Development (UNCTAD) Global Investment Trends Monitor.

"This is an impressive growth of 409.7 percent, which is the highest recorded in the region as well as among the 153 economies surveyed by UNCTAD," said Mustapa in the statement.

The minister added that the UNCTAD figures reaffirmed his statement in December 2010 that Malaysia had recorded significant inflows of FDI amounting to 5.4 billion U.S. dollars in the first nine months of 2010, based on data from the Malaysian Statistics Department.

Mustapa said the country's achievement was all the more significant as the UNCTAD report had shown that world FDI inflows in 2010 had remained relatively stagnant with a marginal growth of one percent to 1.12 trillion U.S. dollars in 2010, from 1.11 trillion U.S. dollars in 2009.

"This achievement is a reflection of increasing investor confidence in Malaysia. This demonstrates investors' belief that the Malaysian government is able to deliver and successfully implement ints economic transformation and reform programs," said Mustapa.

Mustapa has also recently announced the approved foreign and domestic investments in the country's manufacturing sector, which has attracted higher levels of investments in 2010 compared with 2009.

According to the minister, the manufacturing sector saw an approved investments of 47.2 billion ringgit (15.37 billion U.S. dollars) in 2010, compared with 32.6 billion ringgit (10.62 billion U.S. dollars) in 2009.

"I am confident that for 2011 and beyond, inflows of FDI into Malaysia will remain strong," said the minister.

Source: Xinhua
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