RM58b Investment For Malaysia 2020 On Target
Economic Action Council (EAC) Believes Target Is Achievable
The investment target of RM58 billion for 2020 is achievable despite the COVID-10 pandemic.
The EAC believes this target can be reached based on the confidence investors have demonstrated. Data from the Malaysian Investment Development Authority (MIDA) already shows that 60% of the target has been reached to date.
Malaysia Is on the Road to Recovery
The economy has not recovered fully yet, but the signs of recovery are there. Investment in Malaysia, both foreign and domestic, are showing signs of recovery.
94 license applications for manufacturing have been received since July 2020. This creates 9,238 new job opportunities. The transition from automation to digitalisation will also ensure the sector stays relevant.
Sector Recovery and Growing Investor Confidence
Food manufacturing, metal fabrication, transport, electrical, electronics, equipment and machines are some sectors that have gradually recovered.
The EAC is confident manufacturing and production sector investment will resume their activities, contributing to the recovery of the economy.
The EAC will keep monitoring for other sectors that continue to grow and attract local and foreign investment.