MIDA: Malaysia remains a preferred investment destination
The Malaysian Investment Development Authority (MIDA) said Malaysia continues to be a preferred investment destination by the international business community despite the challenging global economic environment. MIDA added that Johor was one of the top recipients of the investments.
MIDA’s Deputy chief executive officer Ahmad Khairuddin Abdul Rahim said as at December 2019, there were 4,764 manufacturing projects implemented in Johor with investments totalling RM166 billion. “More than half of these investments worth RM88.4 billion were from foreign sources. “These projects have been instrumental in creating over 502,700 jobs, mainly in the fields of petroleum products, including petrochemicals, electrical and electronics (E&E) products, food manufacturing, basic metal products, as well as chemical and chemical products,” he said. He said in the first half-year of 2020, Johor emerged among the top states, recording 89 manufacturing projects with the highest approved total investments of RM3.6 billion.