Malaysia's net FDI in 2011 climbs 12% to reach $10.9 billion
2012-02-22 17:18:02
Malaysia's net foreign direct investment (FDI) inflow grew 12.3 percent last year to 32.9 billion ringgit (10.9 billion U.S. dollars) from 29.3 billion ringgit (9.71 billion U.S. dollars) in 2010, as it continued to surpass the pre-crisis level of 29.1 billion ringgit (9.65 billion U.S. dollars) in 2007, Malaysian International Trade and Industry Minister Mustapa Mohamed said on Tuesday.
Manufacturing was the largest contributor to the country's FDI of 16.5 billion ringgit (5.47 billion U.S. dollars), followed by services, mining and quarrying and agriculture, forestry and fishing.
Approved manufacturing grew 19 percent to 56.1 billion ringgit (18.61 billion U.S. dollars) in 2011 from the previous year.
Japan was the top source of approved manufacturing FDI, contributing 10.1 billion ringgit (3.35 billion U.S. dollars), followed by South Korea with 5.1 billion ringgit (1.69 billion U.S. dollars), the U.S., Singapore and Saudi Arabia.
Total approved investment in manufacturing, services and primary sectors last year rose 40.7 percent to 148.6 billion ringgit (49.29 billion U.S. dollars).
Domestic investments exceeded FDI, accounting for about 55 percent of the total investments.
Mustapa said he expects total approved investment this year to maintain at last year's level given the uncertain global economy.