Malaysia attracts record foreign investment since 2016

June 18, 2022 | 21:54
Malaysia recorded net foreign investment inflows of 48.1 billion ringgit (10.93 billion USD) in 2021, the highest since 2016, signaling the robust recovery, according to the Department of Statistics Malaysia (DOSM).
Malaysia attracts record foreign investment since 2016
The manufacturing sector attracted 61 percent of the total foreign investments last year, particularly in the electrical, transport equipment and other manufacturing subsectors (Photo: Bernama)

Kuala Lumpur - Malaysia recorded net foreign investment inflows of 48.1 billion ringgit (10.93 billion USD) in 2021, the highest since 2016, signaling the robust recovery, according to the Department of Statistics Malaysia (DOSM).

The country’s economic activities are gradually recovering from the effects of the COVID-19 pandemic and foreign direct investment inflow in Malaysia has risen sharply compared to 13.3 billion ringgit in the previous year.

The DOSM said the manufacturing sector attracted 61.4 percent of the total investments with 29.5 billion ringgit in 2021, mainly in electrical, transport equipment and other manufacturing subsectors.

The service sector was the second-highest contributor followed by mining which received equity and investment fund shares.

DOSM data also showed that Asia continued to be the top source of FDI in Malaysia for 2021 with net inflows of 22.5 billion ringgit.

The region also has been the predominant source of FDI with a value of 413.1 billion ringgit, followed by Europe at 207.7 billion ringgit and the US at 153 billion ringgit by the end of 2021.

VNA

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