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Services and manufacturing sectors receive boost from Entry Point Projects

Posted on August 24, 2013, Saturday

KLANG: Boosted by Entry Point Projects (EPP) under the Economic Transformation Programme (ETP), the Malaysian Investment Development Authority (MIDA) is confident of securing investments worth RM60 billion and RM48 billion respectively for the services and manufacturing sectors, this year.

Its deputy chief executive officer II, Datuk Phang Ah Tong said for the first quarter of 2013, Malaysia recorded overall approved investments of RM49.3 billion.

Speaking to reporters at the Domestic Direct Investment Initiatives seminar yesterday, he said this was an increase of 44 per cent, when compared to the RM34.3 billion in the same period of 2012.

“It reflects the country’s competitiveness as a location of choice for investments in the region.

“The services sector accounted for the largest share of the investments approved in the economy at RM22.3 billion (45.2 per cent), followed by the primary sector with RM15.3 billion (31 per cent) and the manufacturing sector at RM11.7 billion (23.8 per cent),” he added.

The seminar on Domestic Direct Investment Initiatives was co-organised by MIDA and the Klang Chinese Chamber of Commerce and Industry.

It is aimed at reaching out to the local business community to promote domestic direct investments.

The one-day seminar also provided a platform for networking and exchange of views and knowledge on the latest government policies, initiatives, opportunities and facilities available for the business community, particularly in Selangor. — Bernama

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