Malaysia's foreign direct investment reaches 195 bln USD in Q3

Xinhua
17 Nov 2023, 19:44 GMT+10

KUALA LUMPUR, Nov. 17 (Xinhua) -- Malaysia's foreign direct investment (FDI) increased by 14.8 billion ringgit (3.16 billion U.S. dollars) to reach 914.9 billion ringgit at the end of the third quarter, from 900 billion ringgit in the second quarter, official data showed Friday.

The services sector remained the largest recipient of the FDI with a value of 457.2 billion ringgit or 50 percent of the total, the Department of Statistics Malaysia (DOSM) said in a statement.

This was followed by manufacturing with 389.1 billion ringgit, or 42.5 percent and mining and quarrying with 43.6 billion ringgit, or 4.8 percent.

The FDIs were largely from Singapore, China's Hong Kong and the United States.

Meanwhile, Malaysia's direct investment abroad (DIA) position increased to 659.6 billion ringgit from 652.1 billion ringgit at the end of last quarter.

This investment was mainly in the services sector which contributed 68.5 percent, which was followed by mining and quarrying, and manufacturing.

The top three DIA destinations were Singapore, Indonesia and the Netherlands. (1 ringgit equals 0.21 U.S. dollars)

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