KUALA LUMPUR: Rather than competing
against its neighbours, Malaysia expects to beat its approved investments target
this year by working with them instead.
Malaysia Investment Development Authority Chairman Datuk Abdul Majid Ahmad Khan has confirmed in an interview that Malaysia currently has already reached 47% of its full-year goal of 113.5 billion ringgit in the first quarter, with the following two months showing increases compared to the previous year of 2018.
Abdul Majid said that it’s better to
“complement each other than to want to be competing with each other”.
With regional giant Indonesia and manufacturing stronghold Thailand as neighbours, it is better that the country seek to draw in higher-technology investments in sectors including medical devices, aerospace, and biotechnology.