Malaysia is set to attract over 2 trillion baht in investment in 2023, according to the Malaysian Investment Development Authority (MIDA). The report revealed that the approved investments in Malaysia during 2022 reached 264 billion ringgit (approximately 2.05 trillion baht) covering 4,454 projects and is expected to create 140,370 job opportunities for Malaysians.
Foreign direct investment (FDI) accounted for 61.7% of total investment, or 163 billion ringgit (about 1.26 trillion baht), while domestic direct investment accounted for 38.3%, or 101 billion ringgit (approximately 7.85 billion baht). China topped the list of all approved FDIs, followed by the United States, the Netherlands, Singapore, and Japan.
The service sector recorded the highest amount of approved investment at RM154 billion (approx. 1.19 trillion baht), followed by the manufacturing sector at RM84.3 billion, and agriculture at 26.3 billion ringgit (about 204 billion baht).
According to the Malaysian Minister of International Trade and Industry, Malaysia is making every effort to become the digital hub of ASEAN rapidly. This is due to the country’s developed infrastructure in information and communication technology, knowledgeable and capable personnel in science, technology, engineering, and mathematics, a strong intellectual property protection framework, and the rule of law.
Malaysia’s steady economic growth has been attracting a considerable amount of foreign investment. With the government’s efforts to provide a conducive business environment, the country aims to maintain its momentum and continue to attract investors, leading to further economic growth and job creation.