KUALA LUMPUR: Malaysia registered a record RM378.5bil in approved investments in 2024, a 14.9% increase from RM329.5bil in 2023, underpinned by rapid growth in investments in the services sector.
The Malaysian Investment Development Authority (Mida) said that of the total approved investments, domestic investment accounted for 55%, or RM208.1bil, of the approved investments, with the remaining 45%, or RM170.4bil, contributed by foreign investments.
The services sector continues to lead the country’s economic expansion, with RM252.7bil in approved investments secured in 2024.
This figure, spearheaded by the information and communications sub-sector, is double the RM168.4bil investment value registered for the sector in 2023, and accounts for 66.8% of the total approvals in 2024.
“A significant portion of the services sector’s investment comes from domestic sources, amounting to RM171.1bil or 67.9%, with foreign investment contributing the remaining 32.1% or RM81bil.
“This mix underscores the sector’s appeal to both local and international investors,” said Mida.
Meanwhile, the manufacturing sector secured RM120.5bil in approved investments, representing 31.8% of the total.
The electrical and electronics (E&E) industry drove the investment growth, securing 46.3% of the sector’s total investments amid the growing demand fuelled by Industry 4.0.
Foreign investments were the dominant contributor, totaling RM88.9bil (73.8%), while domestic investments remained substantial at RM31.6bil (26.2%), said Mida.
Mida reported approved investments of RM5.3bil for the primary sector, or 1.4% of the total approvals.
Mida CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the agency’s focus remains on attracting high-quality, strategic invstments that align with national priorities.
“Through proactive investor engagement, end-to-end support, and fostering strong public-private partnerships, Mida and The Ministry of International Trade and Investment continues to drive industrial transformation, accelerate the adoption of advanced technologies, and champion sustainable practices.
“To remain competitive and resilient, Malaysia must transform the key sectors — particularly manufacturing and services—by moving up the value chain through a whole-of-government approach.”