Govt approved 898 FDI projects worth RM281.5bil from 2022 to 2023, Dewan Rakyat told
KUALA LUMPUR: From 2022 to 2023, the government approved 898 foreign direct investment (FDI) projects, valued at RM281.5bil, involving the manufacturing and services sector, says Liew Chin Tong,

The Deputy Investment, Trade and Industry Minister said the FDIs would create 98,725 new jobs, of which 86,880, or 88%, would be for local residents.

“There will be 78,033 job creations in the manufacturing industry,” he said, responding to Datuk Larry Soon @ Larry Sng Wei Shien (PBM-Julau) during Ministers' Question Time on Wednesday (March 20).

Sng asked about the number of job opportunities, by sectors and industries, that will benefit locals in 2024 due to the high inflow of Foreign Direct Investment (FDI) into the country.

Liew said the top five sectors in the manufacturing industry are electrical and electronics, with 40,618 jobs; non-metal mineral products, with 6,746 jobs; machinery and equipment, with 5,555 jobs; measurement and scientific equipment, 3,791 jobs and chemicals and chemical products, 3,684 jobs.

He said 8,847 new jobs will be created in the services sector, including support services (5,124 jobs), health services (1,407 jobs) and information and communication (1,022 jobs).

Liew said it would need between 18 and 24 months to kickstart newly approved projects, and 85% would be realised within the duration.

He said the country has good logistics, ecosystem and supply chain, as well as English common law.

“We also have the skills and skilled workers to fill the jobs,” he said, adding that the industries have the potential to create high-salary jobs.
Foreign Direct Investment,Liew Chin Tong,New Jobs,Local Residents,Manufacturing,Industry,Projects
KUALA LUMPUR: From 2022 to 2023, the government approved 898 foreign direct investment (FDI) projects, valued at RM281.5bil, involving the manufacturing and services sector, says Liew Chin Tong,