Kuala Lumpur: Ninety-three manufacturers have ceased operations in Malaysia between 2018 and July 2022, with 17,648 jobs lost, the Dewan Rakyat was told.
However, deputy international trade and industry minister Liew Chin Tong said 3,893 new manufacturing operations, with an investment value of RM503.3 billion, were approved during the same period.
He added that these projects have created 331,509 jobs so far.
Of the RM503.3 billion in investments, 70% of them (RM388.2 billion) were from foreign direct investments (FDI) while 22.9% (RM115.1 billion) were domestic direct investments (DDI).
“Through the international trade and industry ministry (Miti) and Malaysian Investment Development Authority (Mida), the government is continuously adopting proactive measures to attract investments for various sectors.
“This includes streamlining our strategies to ensure that both foreign and domestic investors continue to invest in Malaysia instead of moving to other countries.”
The deputy minister was responding to Aminolhuda Hassan (PH-Sri Gading), who asked the ministry to explain the government’s efforts to ensure multinational companies do not relocate their operations to other countries.
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