Kuala Lumpur (VNA) – Malaysia has secured 89.8 billion MYR (nearly 21 billion USD) in approved investments for the first quarter of this year, marking a 3.7% year-on-year increase amid a challenging g💖lobal economic backdrop, according to the Malaysian Investment Development Authority (MIDA).

These investments, spread across 1,556 projects in manufacturing, services, and primary sectors, are set to generate over 33,300 new employment opportunities for Malaysians, the MIDA said. Foreign investments (FIs) dominated the investment landscape, contributing 60.4 billion MYR or 67.3% of total investments, while domestic investments (DIs) accounted for 29.4 billion MYR or 32.7%. Singapore emerged as the leading foreign investor with 28.3 billion MYR, followed by the US (9.9 billion MYR) and China (7.9 billion MYR). The services sector has emerged as a powerhouse of economic growth, garnering 57.8 billion MYR in approved investments across 1,342 projects. The sector's performance is highlighted by a robust 39.5% year-on-year growth, and will create 15,051 new jobs. Foreign investors have shown confidence in Malaysia's services sector, with investments surging by 326.6% to reach 34.5 billion MYR. For the manufacturing sector, approved investments in the sector reached 30.5 billion MYR in Q1. The approval of 207 projects is anticipated to yield 18,317 new jobs. Foreign investments accounted for 25.5 billion MYR or 83.8% of the total approved investments in the manufacturing sector while domestic investments contributed 5 billion MYR or 16.2%. A key indicator of the sector’s transformation is the rise in the Managerial, Technical, and Supervisory (MTS) index, which increased to 46.3% during January-March, up from 44.2% in the same period last year. This reflects a concerted national effort to move up the value chain and create higher-skilled and better-paying jobs. For the first time, leading the list of high-performing industries is the basic metal products subsector, which secured 8.9 billion MYR in approved investments. This subsector plays a critical role in strengthening supply chains, particularly as input for upstream iron and steel products and in supporting significant industries such as the electric vehicle (EV), energy-efficient vehicle (EEV), and solar energy systems./.