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MITI will continue to strengthen country's competitiveness - Azmin

04 Sep 2022 02:48pm
Azmin Ali said the ministry will also enhance inclusivity through the creation of high-income jobs. - Photo: Sinar archive
Azmin Ali said the ministry will also enhance inclusivity through the creation of high-income jobs. - Photo: Sinar archive
KUALA LUMPUR - The Ministry of International Trade and Industry (MITI) will continue to strengthen the country’s competitiveness by developing economic complexity, and nurturing a strong industrial ecosystem with innovation intensity to further boost the country's positive trade performance.

Senior Minister and MITI Minister Datuk Seri Mohamed Azmin Ali said the ministry will also enhance inclusivity through the creation of high-income jobs and promoting opportunities to participate in the regional and global supply chains.

"Malaysia is on the right trajectory to secure more high-quality, high impact and capital-intensive projects, with the services sector being the key growth driver for the economy and the largest contributor for approved investments for the first half of this year (1H2022)," he said in his Twitter post today.

On Friday, the Malaysian Investment Development Authority (MIDA) announced that Malaysia has attracted RM123.3 billion (US$28.0 billion) worth of approved investments in the manufacturing, services and primary sectors in 1H2022, involving 1,714 projects which are expected to create 57,771 jobs.

In a statement, MIDA said foreign direct investments remained as a major contributor to the investment inflows at 70.9 per cent or RM87.4 billion (US$19.9 billion), while investments from domestic sources contributed 29.1 per cent or RM35.9 billion (US$8.2 billion). - BERNAMA
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