Historic investment surge strengthens Malaysia’s global competitiveness, creating over 207,000 jobs in key sectors.

KUALA LUMPUR, Malaysia — Malaysia has achieved a record high of RM378.5 billion in approved investments for 2024, marking a 14.9% year-on-year increase and solidifying the nation’s status as a premier investment destination. The substantial inflow of investments spans 6,700 projects across the services, manufacturing, and primary sectors, generating more than 207,000 jobs.

Minister of Investment, Trade, and Industry (MITI), YB Senator Tengku Datuk Seri Utama Zafrul Aziz, highlighted Malaysia’s resilience despite global economic uncertainties. “More important than these numbers is our focused execution of these approved investments to create better-paying jobs for Malaysians and real opportunities for businesses, particularly SMEs. Each ringgit invested in innovative, sustainable, and high-value industries strengthens our economy,” he stated.

The services sector remains the largest contributor, attracting RM252.7 billion in investments, a 50.1% increase from the previous year. The sector’s growth is fueled by digital transformation and technology investments, with notable projects such as STT GDC Malaysia’s expansion into data center solutions. Meanwhile, the manufacturing sector secured RM120.5 billion, with the Electrical & Electronics (E&E) industry leading at RM55.8 billion, reaffirming Malaysia’s position in the global technology supply chain.

An infographic showing top sub-sectors, top major states, and top foreign investors in Malaysia. (Source: MIDA)

Foreign investments accounted for RM170.4 billion (45.0%), with the top sources being the United States (RM32.8 billion), Germany (RM32.2 billion), China (RM28.2 billion), Singapore (RM27.3 billion), and Hong Kong SAR (RM7.4 billion). The strong presence of international investors underscores Malaysia’s attractiveness as a stable and business-friendly environment.

Investment momentum was particularly strong in Selangor (RM101.1 billion), Kuala Lumpur (RM91.5 billion), Johor (RM48.5 billion), Kedah (RM45.8 billion), and Penang (RM32.0 billion). Strategic high-impact projects include NUR Renewables’ RM250 million solar farm in Kulim and Singapore-based YCH Group’s RM500 million investment in a supply chain hub in Selangor.

Malaysia’s commitment to sustainability is also evident, with policies such as the Green Investment Strategy and Corporate Renewable Energy Supply Scheme accelerating the transition to a low-carbon economy. The government’s proactive approach ensures that investments align with long-term national growth objectives, fostering a resilient and competitive economic landscape.

Source: Malaysian Investment Development Authority