KUALA LUMPUR: The total number of approved investments from January till June this year climbed 18 per cent to RM160 billion compared with the same period last year.

Prime Minister Datuk Seri Anwar Ibrahim said the rise in investments was a result of concerted efforts by the Investment, Trade and Industry Ministry (MITI), the Finance Ministry as well as related government agencies.

"The economy grew 4.2 per cent in rhe first quarter of 2024 and 5.9 per cent in the second quarter, exceeding initial projections."

"I would like to announce that the amount of investments approved in the period from January to June 2024 has jumped to RM160 billion, an impressive increase of 18 per cent compared to the same period last year."

"All these investments involved nearly 3,000 new projects that will open more than 79,000 job opportunities for Malaysians," he said in his speech at Khazanah Nasional Bhd's 30th anniversary here today.

MITI minister Tengku Datuk Seri Zafrul Abdul Aziz said the country's  country's approved investment growth for 2024 should at least match its annual gross domestic product (GDP) growth. The approved investments in 2023 totalled to RM329.5 billion, up 23 per cent from RM267.7 billion in 2022.

Of the total, 57.2 per cent of the approved investments came from foreign capital and 42.8 per cent from domestic investments.

The official forecast for GDP growth this year is between 4.0 per cent and 5.0 per cent.

https://www.nst.com.my/business/economy/2024/09/1100782/pm-investments-malaysia-18pct-rm160b-first-half-year