LIFE NEWS AGENCY

Malaysia Edition

NCI approved another four projects in the manufacturing sector worth RM5.4 billion

14 December 2019 – The National Committee on Investment (NCI) approved another four projects in the manufacturing sector worth RM5.4 billion on 12 December 2019 and the projects will be located in Sabah, Johor, Selangor and Pulau Pinang. According to Ministry of International Trade and Industry (MITI) in a statement issued yesterday, one of them was an investment worth RM2 billion by a multinational glass manufacturer to produce float glass and photovoltaic functional glass at the Kota Kinabalu Industrial Park which is expected to create over 1,000 job opportunities, whereby 80% will be Malaysians.

“We look forward to attract more investments in the near future. For the first nine months  of 2019, Malaysia recorded RM149 billion worth of approved investments in the services, manufacturing and primary sectors. This was 4.4% higher than the RM142.6 billion approved in the same period last year. These investments involved 4,025 projects and will create an additional of 93,841 job opportunities.

Notably, approved investments for global establishments saw  an increase of 185.7% during the period. The Malaysian Investment Development Authority (MIDA) has secured 126 projects proposing to make Malaysia the Principal Hubs, regional offices or representative offices. ” said Minister of International Trade and Industry, YB Datuk Darell Leiking.

Darell also added that these activities are expected to create job opportunities for 884 knowledge- based or highly technical skilled workers. These projects will also position Malaysia on course for greater integration into the global supply chain. .

Cabinet has empowered NCI as the sole approving committee for investments on 8 May 2019 and Cabinet has also agreed for MITI and MOF to co- chair the committee. This enhanced NCI deliberates and make decisions on investment projects received by all investment promotion agencies including MIDA, Regional Corridors, Halal Development Corporation (HDC), Malaysia Digital Economy Corporation (MDEC), BioEconomy Corporation and the Ministry of Agriculture.

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