Tengku Datuk Seri Zafrul Abdul Aziz, Minister of Investment, Trade and Industry (MITI), states that over 80% of all investments approved in Malaysia during the past five years have been implemented satisfactorily.
Based on report by Bernama, in Dewan Rakyat on 31 October, Zafrul stated that Malaysia registered RM753.9 billion in approved investments between June 2023 and 2018, of which RM593.5 billion realized.
“This is close to an implementation rate of 80%,” he said in response to supplementary questions from Titiwangsa MP Datuk Seri Johari Ghani and Kuala Selangor MP Datuk Seri Dzulkefly Ahmad.
According to Zafrul, MITI doesn’t just sit around; instead, it keeps track of the investment commitment’s signing, approval, and realization.
“This (a realized investment) takes at least two to three years depending on the project — its complexity. If realization of the investment is slow and takes three to five years, it may have faced issues,” he added.
According to Zafrul, MITI and Bank Negara Malaysia collaborated on a study that uncovered problem areas for investors.
“And here, the Investment and Trade Coordination Action Committee (JTPPP) together with the National Investment Council will study how to resolve some of these issues or challenges,” he added.
In order to help investors make wise decisions, he mentioned that the JTPPP would not only compile a report to present to the Cabinet but also make it accessible to investors.
Zafrul also mentioned that the government is reorganizing the nation’s investment promotion agencies (IPAs), starting with the rationalization of IPAs in order better to coordinate the duties and functions of Regional Economic Corridors.
“This is important in ensuring that Malaysia can optimize existing resources to ensure the delivery of a more systematic and organized IPA service as well as effective investment promotion program,” he added.
Tengku Datuk Seri Zafrul Abdul Aziz, Minister of Investment, Trade and Industry (MITI), states that over 80% of all investments approved in Malaysia during the past five years have been implemented satisfactorily.