ID :
25517
Mon, 10/20/2008 - 09:27
Auther :
Shortlink :
http://m.oananews.org//node/25517
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M'SIA'S FOREIGN INVESTMENTS REACHES RECORD LEVEL
KOTA KINABALU (Malaysia), Oct 20 (Bernama) -- Foreign investments in the manufacturing sector for the first eight months of this year rose to RM36.8 billion, exceeding the record for the whole of 2007 which amounted to RM33.4 billion.
International Trade and Industry Minister Muhyiddin Yassin said the
total amount of investments approved during this period stood at RM49.8 billion,
of which RM13 billion was from domestic investors.
"Such sustained inflows are indeed attestation to Malaysia's continued
competitiveness, especially now, in the wake of intense competition from both
the developing and developed economies, regionally and globally," he said when
closing the Sabah International Expo (SIE) 2008 here, Sunday night.
According to Muhyiddin, it was imperative that the government
continued to
promote foreign investments into the country as Malaysia derived tangible and
intangible benefits from the inflows of foreign direct investments (FDIs), while
at the same time providing impetus for the development of Malaysian small and
medium enterprises (SMEs).
"While promoting foreign investments, we must equally emphasize on the need
for domestic investors to participate in the country's industrial development,"
he added.
He said the Malaysian government was also promoting cross-border investment
where Malaysian companies were urged to venture abroad to expand their markets,
tap new investment opportunities, acquire new technology and gain access to raw
materials.
On another note, he said Malaysia's total trade for the period of January
to August 2008 grew by 12.7 per cent to RM805.2 billion, compared with RM714.5
billion in the corresponding period in 2007.
"Exports expanded by 16.1 per cent to RM449.9 billion while imports
increased by 8.7 per cent to RM355.3 billion," said Muhyiddin.
On Sabah development, he said that between January and August this year, a
total of 27 projects were approved by his Ministry in Sabah of those with
manufacturing licences under the Industrial Coordination Act, with investments
amounting to RM825.6 million.
Kota Kinabalu, formerly known as Jesselton, is the capital of Sabah, a East
Malaysia state.
-- BERNAMA
International Trade and Industry Minister Muhyiddin Yassin said the
total amount of investments approved during this period stood at RM49.8 billion,
of which RM13 billion was from domestic investors.
"Such sustained inflows are indeed attestation to Malaysia's continued
competitiveness, especially now, in the wake of intense competition from both
the developing and developed economies, regionally and globally," he said when
closing the Sabah International Expo (SIE) 2008 here, Sunday night.
According to Muhyiddin, it was imperative that the government
continued to
promote foreign investments into the country as Malaysia derived tangible and
intangible benefits from the inflows of foreign direct investments (FDIs), while
at the same time providing impetus for the development of Malaysian small and
medium enterprises (SMEs).
"While promoting foreign investments, we must equally emphasize on the need
for domestic investors to participate in the country's industrial development,"
he added.
He said the Malaysian government was also promoting cross-border investment
where Malaysian companies were urged to venture abroad to expand their markets,
tap new investment opportunities, acquire new technology and gain access to raw
materials.
On another note, he said Malaysia's total trade for the period of January
to August 2008 grew by 12.7 per cent to RM805.2 billion, compared with RM714.5
billion in the corresponding period in 2007.
"Exports expanded by 16.1 per cent to RM449.9 billion while imports
increased by 8.7 per cent to RM355.3 billion," said Muhyiddin.
On Sabah development, he said that between January and August this year, a
total of 27 projects were approved by his Ministry in Sabah of those with
manufacturing licences under the Industrial Coordination Act, with investments
amounting to RM825.6 million.
Kota Kinabalu, formerly known as Jesselton, is the capital of Sabah, a East
Malaysia state.
-- BERNAMA
