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MITI: RM17.9 bil in Chinese manufacturing investments approved, over 5,000 jobs created so far | Scoop

miti-bernama-1-1-1 — MITI and MIDA are managing RM17.9 billion in approved Chinese manufacturing investments from 2023 to mid-2024. - Bernama pic, October 14, 2024

MITI: RM17.9 bil in Chinese manufacturing investments approved, over 5,000 jobs created so far

Ministry reports nearly half of projects realised, with full implementation expected to take up to two years

Updated 14 October, 2024

14 October, 2024

11:23 PM MYT

KUALA LUMPUR — The Investment, Trade and Industry Ministry (MITI) and the Malaysian Investment Development Authority (MIDA) are overseeing RM17.9 billion in approved Chinese investments in the manufacturing sector from 2023 to mid-2024.

These investments cover 110 projects and are expected to create 14,343 job opportunities, according to MITI’s statement on Parliament’s website.

The ministry was responding to a query from Roslan Hashim (PN-Kulim Bandar Baharu), who asked for details on the realised portion of the RM170 billion pledged during the 2022 trade and investment mission (TIM) to China.

“Of the total, 54 projects (49.1%) with an investment of RM3.8 billion have been realised, creating 5,303 jobs.

“This is an encouraging achievement considering that the implementation of approved manufacturing projects usually takes 18 to 24 months to materialise, depending on the project’s scale and the current economic situation,” he said. — October 14, 2024

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