• SME News
Malaysia Expects Higher FDIs This Year, Says Mustapa
KUALA LUMPUR, March 2 (Bernama) -- Malaysia is confident of raking in higher foreign direct investments (FDIs) this year compared with 2009, said Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed.
He said efforts would continue to be made to woo more foreign companies in Malaysia to increase their investments.
"Also, the ministry will attract more new foreign companies to invest here," he told reporters after a meeting with ambassadors, high commissioners and economic counsellors here on Tuesday.
Mustapa said the ministry would also continue to encourage more local investors to increase their investments. "With these aggressive steps, we hope that the FDIs and local investments will increase this year," he said.
Last year, the country approved 766 projects worth RM32.6 billion in the manufacturing sector, surpassing the target of Third Industrial Master Plan of RM27.5 billion a year.
Of total investments approved last year, FDIs accounted for 67.8 per cent, or RM22.1 billion, and domestic investments contributed 32.2 per cent, or RM10.5 billion.
Last week, former International Trade and Industry Minister, Tan Sri Rafidah Aziz, said to maintain Malaysia's competitiveness in wooing FDIs, the relevant authorities must continue to "touch base" with people who had the potential to invest abroad.
Meanwhile, on financial assistance to small and medium enterprises (SMEs), Mustapa said the ministry would discuss with the Finance Ministry to increase the allocation for SME Corp. He said the higher allocation would help more SMEs expand their operations. -- BERNAMA
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