Tengku Zafrul confident of stronger FDI pipeline in 2024

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Tengku Zafrul confident of stronger FDI pipeline in 2024
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KUALA LUMPUR: The government is optimistic about the country’s investment outlook for the upcoming year, particularly in foreign direct investment (FD...

The government is optimistic about the country’s investment outlook for the upcoming year, particularly in foreign direct investment , said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He stated that currently, out of the RM132 billion worth of investment, nearly half of it is Domestic Direct Investment . “Why do we want to attract FDI? There are three main reasons. One is of course it creates jobs. Secondly, we want to ensure that it creates spillover to our industries ... be it construction sector or supplier, etc.

Tengku Zafrul commented that the RM200 million budget for NIMP 2030 will benefit industries aligning with the four key missions, including the advancement of the country’s economic complexity. Tengku Zafrul also said that Malaysia is looking to leverage its semiconductor capabilities to advance in the electric vehicle sector.“When I talk about EV, it’s not about the charger, the motorcycle. Why are we attractive? And why many EV companies are coming here? It’s because of our semi-conductor ecosystem. We have 30% of the global market share.

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