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Defense Minister to Investigate LTAT Resignations, Prepares to Brief Cabinet, Reveals PM

In response to the recent resignations within the Armed Forces Fund Board (LTAT Resignations), Prime Minister Datuk Seri Anwar Ibrahim disclosed that Defense Minister...
HomeMalaysia NewsAnwar Announces Record RM329.5 Billion in Approved Investments

Anwar Announces Record RM329.5 Billion in Approved Investments

Prime Minister Anwar Ibrahim has unveiled Malaysia’s achievement of securing a record-high of RM329.5 billion in approved investments for the previous year. Serving as both Prime Minister and Finance Minister, Anwar highlighted this remarkable figure, indicating a notable 23% increase compared to the total approved investments of RM264.6 billion in 2022.

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Expansion of Investment Landscape

In his official statement, Anwar elaborated on the breadth of approved investments for 2023. He revealed that these investments encompassed 5,101 projects poised to generate over 127,000 new employment opportunities. Leading the charge, the services sector contributed 51.1% of the total approved investments amounting to RM168.4 billion. Following suit, the manufacturing sector accounted for RM152.0 billion (46.1%), with the primary industries sector contributing RM9.1 billion (2.8%).

Balanced Portfolio of Foreign and Domestic Investments

Anwar emphasized the balanced distribution of investments, highlighting that foreign investment constituted 57.2% of the total, while domestic investment accounted for the remaining 42.8%. Notably, domestic investment surged by 35.1%, outpacing the 15.3% increase observed in foreign investment.

Positive Outcomes of Investor-Friendly Policies

Expressing satisfaction with the surge in investments, Anwar attributed this success to the implementation of investor-friendly and pro-business policies through a comprehensive whole-of-government approach. He underscored that this substantial increase in investments reflected growing investor confidence and contributed significantly to Malaysia’s economic recovery under the Madani government’s administration.

Focus on Digital Sector Investments

During discussions at the National Investment Council (NIC) meeting, Anwar emphasized the strategic significance of digital investments in tandem with the rapid development of the digital economy sector. He emphasized Malaysia’s digital economy’s pivotal role, projecting its contribution to GDP to rise from 23.2% in 2021 to 25.5% by 2025.

Job Creation and Technological Advancements

Anwar underscored that investments in digital projects were anticipated to create 36,553 job opportunities for Malaysians. He outlined that among the approved digital investments were projects encompassing data centers, cloud computing, data hosting, big data analytics, and artificial intelligence. Anwar stressed the importance of facilitating potential digital investments while maintaining stringent data security and upholding national sovereignty.

Attractive Investment Ecosystem

Highlighting the presence of leading global digital companies and market leaders in Malaysia, Anwar reaffirmed the country’s appeal as an attractive investment destination for digital ventures. He reiterated the government’s unwavering commitment to fostering digital investments while prioritizing the preservation of national interests and data security.

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