Malaysia Reports Record RM378.5 Billion in Approved Investments for 2024

Malaysia has achieved a record RM378.5 billion in approved investments for 2024, reflecting a 14.9% increase from the previous year. This total encompasses 6,700 projects across various sectors, predominantly in services, which attracted RM252.7 billion, representing 66.8% of the overall investments. Domestic investments accounted for RM208.1 billion, while foreign investments reached RM170.4 billion, with the United States being the largest foreign investor. The electrical and electronics industry led the manufacturing sector with RM55.8 billion in investments, highlighting Malaysia's role in the global technology supply chain. Minister of Investment, Trade, and Industry, Tengku Datuk Seri Utama Zafrul Aziz, emphasized the importance of executing these investments to create better-paying jobs and opportunities for local businesses. The strong investment momentum across various states underscores Malaysia's attractiveness as a stable and business-friendly environment amidst global economic uncertainties.