Latest news with #RM89.8bil
The Star
13 hours ago
- Business
- The Star
Record deals since Merdeka
Engaging the youth: Anwar greeting students at the 2025 National TVET Day celebration in MITC, accompanied by Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi. — Bernama MELAKA: Malaysia has approved investments amounting to RM89.8bil in the first quarter of this year, the largest amount for this time period since Merdeka, says Datuk Seri Anwar Ibrahim. The Prime Minister said that this figure was a 3.7% increase compared to the same period last year, signalling strong investor confidence even as global supply chains and investments are being affected by tariffs imposed by the United States. 'This figure also demonstrates that our economy remains resilient and competitive despite global turbulence and economic uncertainty, including the imposition of tariffs by the United States,' he said during his keynote address at the 2025 National TVET Day celebration held at the Melaka International Trade Centre (MITC) in Ayer Keroh yesterday. Anwar also revealed that a major US-based chip manufacturer had recently expressed interest in investing RM10bil in Malaysia. 'In principle, we have agreed to the proposal, but we have asked the American company to hold until July 9 when President Trump is expected to finalise the new tariff rates,' he said. 'However, the investors indicated they are still keen to proceed, confident that Malaysia will not be significantly affected by the tariffs.' Anwar said that the company had requested expedited approval to begin operations in the country. 'Beyond political stability, foreign investors have also been impressed by the professionalism and discipline of our local workforce. 'This sentiment was echoed in a recent meeting with Google, where they acknowledged that Malaysia's talent pool is among the best in Asia in terms of discipline and skill,' he added. Anwar said the recent development also reinforces the fact that the government's clear policies, along with political stability, continue to position Malaysia as an attractive destination for global investment.
The Star
a day ago
- Business
- The Star
M'sia secures RM90bil approved investments in 1Q
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. KUALA LUMPUR: Malaysia has secured RM89.8bil in approved investments for the first quarter of financial year 2025 (1Q25), a steady 3.7% year-on-year increase despite a challenging global economic backdrop. In a statement yesterday, the Malaysian Investment Development Authority (Mida) said these investments, spread across 1,556 projects in manufacturing, services, and primary sectors, are set to generate over 33,300 new employment opportunities for Malaysians. 'The results reflect continued investor confidence in the country's clear policies and long-term fundamentals, bucking the trend of cautious international capital flows due to geopolitical and macroeconomic volatility, and the intensifying global competition for fresh investments. 'Foreign investments dominated the investment landscape, contributing RM60.4bil or 67.3% of total investments, while domestic investments accounted for RM29.4bil or 32.7%,' it said. Besides job creation, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz said the increase in the Managerial, Technical, and Supervisory index to 46.3% from 44.2% in the same quarter last year reflects the country's success in creating higher-skilled, better-paying jobs. 'With a better integrated Asean economy, which we are working hard on as Asean chair, we are also paving the way for Malaysia's continued positioning as a manufacturing and services hub to this fast-growing 680-million strong region,' he said. He said the investment environment in 2025 is expected to remain challenging due to continued geopolitical and macroeconomic headwinds from the US-China trade war. 'Nonetheless, although major markets' protectionist policies and supply chain frictions continue to weigh in on companies' investment decisions, Malaysia's clear policies should be able to attract more investments from Asia's growing economy, which is expected to expand to about 42% of global gross domestic product by 2040,' he said. Besides bringing in good jobs and business opportunities, Mida chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the projects secured by Mida for 1Q25 supported the national effort to build a more diversified and resilient economy. 'To remain a choice location for high-performing companies, we will strengthen our local ecosystem as enablers and prepare our workforce to seize new job and leadership opportunities.' — Bernama
The Star
a day ago
- Business
- The Star
Malaysia retains foreign investors despite US-China tensions
KUALA LUMPUR: Despite geopolitical tensions between the US and China, foreign investors remain in Malaysia. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said Malaysia has not seen any cancellations of investment commitments so far. "The ones already in Malaysia continue to stay, and those committed have not pulled out, but those yet to commit are reconsidering," he said during a press conference at the Regional Socialisation of the Asean Economic Community Strategic Plan 2026-2030 event on Thursday (June 12). Tengku Zafrul said the ministry is pleased with the country's investment performance for the first quarter, announced on Wednesday. The Malaysian Investment Development Authority (MIDA) reported that Malaysia secured RM89.8bil in approved investments for the first quarter of the financial year 2025 (1Q25), a steady 3.7% year-on-year increase despite a challenging global economic backdrop. These investments, spread across 1,556 projects in manufacturing, services, and primary sectors, are set to generate over 33,300 new employment opportunities for Malaysians. "Usually, the first quarter is softer as decisions are made towards the end. We were quite pleasantly surprised with this number," said Tengku Zafrul. However, he cautioned that making investment forecasts for the future is not easy, as many companies are adopting a wait-and-see approach due to dynamic geopolitical issues. He said Malaysia is currently maintaining its Gross Domestic Product (GDP) forecast for this year. Commenting on trade negotiations between the US and China, he said Malaysia views the development positively. "Things are showing progress in the right direction. We will have a positive spillover if these two countries can do more together," he said. Tengku Zafrul stated that negotiations between Malaysia and the US have been ongoing virtually. He will visit the US on June 18 to meet with US Trade Representative Jamieson Greer. He said the main goal is to reduce the 24% tariff, and for certain sectors important to both countries, Malaysia aims to negotiate further to lower the tariff rate to below the 10% floor tariff. "It is not going to be easy. What is important is to show that Malaysia and the US's relationship in terms of trade and investment is complementary. We are not competing against the US," he said. "A lot of things we do actually strengthen and complement US businesses both in the US and Malaysia. So it is a win-win relationship," he said. He said the ministry is also enhancing enforcement to address trade diversion issues and ensure Malaysian exporters are considered.
The Star
2 days ago
- Business
- The Star
Malaysia records approved investments of US$21bil in 1Q
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.— MUHAMAD SHAHRIL ROSLI/The Star KUALA LUMPUR: Approved investments in Malaysia rose by 3.7% in the first quarter from a year earlier to RM89.8bil (US$21.2bil ), the Malaysian Investment Development Authority said on Wednesday. Foreign investments were RM60.4bil, or two-thirds of the total, and domestic investments accounted for RM29.4bil, the authority said in a statement. "The investment environment in 2025 is expected to remain challenging due to continued geopolitical and macroeconomic headwinds stemming from the U.S.-China trade war," Trade Minister Tengku Datuk Seri Zafrul Abdul Aziz said in the statement. Tengku Zafrul said that while protectionist policies and supply-chain frictions would affect corporate decision-making, he expected Malaysia to attract more investment, given that the broader Asian economy was increasing its share of global GDP. The top three sources of foreign investment in the quarter were Singapore with RM28.3bil, the United States at RM9.9bil and China at RM7.9bil. The services sector attracted RM57.8bil on the approved investments, the authority said. - Reuters
