FDIs Into Malaysia Down 12.7%

Foreign direct investments into Malaysia fell 12.7% in 2017 to RM41 billion ($10.09 billion) from the record RM47 billion in 2016, according to the department of statistics,  The Star online reported. Chief statistician Mohd Uzir Mahidin said on Tuesday the FDI flows in 2017 were mainly channeled into the services sector, particularly in real estate, financial and insurance/takaful; and Information and communication activities.  Mining and quarrying was the second contributor, followed by manufacturing sector. Asia accounted for the largest amount of FDI into Malaysia with a share of 63.5%, followed by Europe and Africa. Within Asia, Hong Kong remained the prominent investor country, while China overtook Singapore as the second largest contributor. As at end of 2017, the expansion of FDI position to RM570.3 billion (2016: RM547.4 billion) was due to the continuous inflows of FDI. “The statistics on investment is a vital indication to determine the direction of Malaysia’s economy. It assists in identifying new opportunities and enhancing market access for companies in Malaysia and abroad,” it said.