According to Mida, there are 249 projects in the pipeline with a potential investment of RM14.6 billion

KUALA LUMPUR: The Malaysian Investment Development Authority (Mida) has a number of promising projects underway with a total potential investment of RM14.6 billion.

The manufacturing sector has 31 projects with a potential investment of RM10.6 billion, while the service sector has 218 projects with a potential investment of RM4 billion.

Chairman Tan Sri Dr. Sulaiman Mahbob said Malaysia has shown unwavering determination to weather these difficult times, despite the challenges of the global economic landscape.

This reflects the commitment of the Ministry of International Trade and Industry (Miti) and Midas to promoting sustainable economic growth and job creation in Malaysia, he said today during Mida’s annual media conference on Malaysia’s investment performance for 2022 here.

“We are focused on attracting more high-quality, sustainable investments. Therefore, we are expanding our footprint into new high-quality clusters to generate high returns for the economy,” he said.

In order to make Malaysia a supply chain hub in Asia, Sulaiman said Mida aims to attract new high-quality investment in the technology sector, accelerate the digital economy to innovate services and commercial products, expand domestic links and establish new bilateral and trade ties to ensure that the country remains an ideal destination for Fortune 500 companies and aspiring unicorns.

“Malaysia has enjoyed tremendous success over the past five decades and we are committed to continuing to work towards new markets and empowered communities,” he noted. – Bernama