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Malaysia expected to attract more FDI this year: minister

(Xinhua)

09:26, November 29, 2011

KUALA LUMPUR, Nov. 28 (Xinhua) -- Malaysia's foreign direct investments (FDI) in 2011 is likely to exceed last year, with the figure surging 42 percent in the first three quarters compared with the same period a year before, Malaysian International Trade and Industry Minister Mustapa Mohamed said Monday.

Malaysia has attracted 26.4 billion ringgit (8.3 billion U.S. dollars) FDI as of the end of September, compared with 18.6 billion ringgit (5.8 billion U.S. dollars) of the first nine months in 2010, Malaysia's state news agency Bernama reported.

"Based on the FDI inflows for the nine months, it is likely that this year's total FDI will exceed last year's figure," Mustapa said in a statement.

Malaysia's total FDI in 2010 was 29.3 billion ringgit (9.2 billion U.S. dollars), while the figure of 2009 was 5 billion ringgit (1.6 billion U.S. dollars).

According to Mustapa, Malaysia received strong FDI in the first and second quarters of 2011, reaching 10.1 billion ringgit (3.2 billion U.S. dollars) and 11.07 billion ringgit (3.5 billion U.S. dollars) respectively.

However, the figure reduced to 5.17 billion ringgit (1.6 billion U.S. dollars), partly due to weaker external economic climate, especially the euro zone debt crisis and the U.S. economic slowdown.

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