Malaysia records RM41.6b investments in manufacturing sector

Minister of International Trade and Industry Darell Leiking speaks during the Arab Malaysian Chamber of Commerce 8th Annual General Meeting at the Mandarin Oriental hotel in Kuala Lumpur August 27, 2018. — Picture by Shafwan Zaidon
Minister of International Trade and Industry Darell Leiking speaks during the Arab Malaysian Chamber of Commerce 8th Annual General Meeting at the Mandarin Oriental hotel in Kuala Lumpur August 27, 2018. — Picture by Shafwan Zaidon

KUALA LUMPUR, Nov 29 — Malaysia has recorded approved investments of RM41.6 billion in the manufacturing sector for the period from May to September this year since the Pakatan Harapan government took over the country’s administration, said Minister of International Trade and Industry Datuk Darell Leiking.

He said the figures were still increasing despite the news of the impact of the tariff wars between the US and China.

“Many more are coming soon. Malaysia remains resilient (and) is always ready to work with new investors and to encourage current investors to invest more in the country,” he told reporters after announcing the expansion by Micron Technology Inc here today.

The American company today announced an investment of RM1.5 billion in Penang within five years to build a centre of excellence for solid-state drive assembly and test.

The company has been in Malaysia since 2010 under a unit called Micron Semiconductor Malaysia, which operates in Muar, Johor, to produce memory integrated circuits.

It has invested RM907.5 million and employs 1,028 workers.

“This RM1.5 billion expansion is one of the biggest investments that we have for 2018, spreading through a period of five years. It shows the commitment by Micron,” he said.

Leiking was optimistic that other American companies would come to Malaysia following Micron as the role model.

The Malaysian Investment Development Authority was reported as saying that Malaysia is on track to achieve its targeted RM200 billion in approved investments for 2018, on the back of encouraging numbers recorded to-date. — Bernama

Related Articles