ASEAN KEY DESTINATIONS
Malaysia attracts investments
He also said the amount is higher when compared to the RM4.5 billion received by Malaysia for the whole of 2009.
"The increase shows Malaysia remains a competitive destination in attracting investments," he said Wednesday.
He said this in response to a question from Dr. Mohd Hatta Md Ramli (PAS-Kuala Kerai) on the reason for the 81 percent drop in FDIs for 2009 and if it was true, Malaysia was allowing only investments of quality into the country.
Mukhriz said Malaysia had recorded the drop of 81 percent from the US$8.1 billion in 2008 to US$1.4 bilion last year, following the global economic crisis.
He explained that the economic crisis which started in 2008 and carried itself into 2009, made investors adopt a cautious attitude in making investments involving high capital.
He said, the drop in the entry of FDIs into Malaysia was also because the government was no longer encouraging labour intensive investments which then found its way into China and Vietnam.
Mukhriz said the government had also taken various proactive measures to invigorate the entry of FDIs while reducing the outflow.
This he added, included introducing 12 key economic sectors through labs under the Performance Management and Delivery Unit (Pemandu) alongside the Economic Transformation Programme (ETP), the New Economic Model and the 10th Malaysia Plan.
He highlighted that the government was now focusing its efforts on ensuring quality FDIs which were of high value added, capital and knowledge intensive as well as new technology, is seen.
Mukhriz said his ministry had also embarked on a near term focus of attracting well known companies, especially in high technology sectors to invest in Malaysia.
Among the sectors being encouraged are aerospace, renewable energy, petrochemicals, biotechnology, machinery and equipment as well as medical equipment, he added.
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