Malaysia records lower FDI last year

Source: Xinhua| 2019-06-27 16:56:18|Editor: ZX
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KUALA LUMPUR, June 27 (Xinhua) -- Malaysia's net foreign direct investment (FDI) fell 19.31 percent year-on-year to 32.6 billion ringgit (7.85 billion U.S. dollars) last year, dragged by lower investment in mining and quarrying sector, official data showed Thursday.

Malaysian Statistics Department said in a statement that nearly half of the FDI came from Asian economies, with China's Hong Kong remained as the highest contributor in the region.

Hong Kong investment accounted for 19.6 percent of the total FDI, driven mainly by investments in services and manufacturing.

Overall, services sector led the FDI, accounted for half of its share. Its investment, however, dropped 21.53 percent year-on-year to 16.4 billion ringgit.

Manufacturing sector which made up of 47.4 percent of the total FDI surged 146.03 percent year-on-year to 15.5 billion ringgit.

As at end of 2018, the accumulated FDI in Malaysia increased to 631.2 billion ringgit (152.3 billion U.S. dollars), from 595.5 billion ringgit in 2017, supported by services and manufacturing sectors.

Singapore, Japan and China's Hong Kong were the top economies for FDI position.