Malaysia's FDI rises to 160 bln USD in Q2

Source: Xinhua| 2019-08-16 17:13:39|Editor: xuxin
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KUALA LUMPUR, Aug. 16 (Xinhua) -- Foreign Direct Investment (FDI) position in Malaysia increased to 667.5 billion ringgit (about 160 billion U.S. dollars), from 662.7 billion ringgit in the preceding quarter, official data showed Friday.

The Malaysian Statistics Department said in a statement that Singapore remained as the top investor source, but China's Hong Kong Special Administrative Region overtook Japan as the second largest contributor.

The FDI position was largely driven by manufacturing sector which accounted for 39.8 percent. This was followed by financial and insurance or Islamic insurance activities, which made up 22.3 percent; mining and quarrying sector that comprised of 7.2 percent.

Malaysia's direct investment abroad (DIA) position also recorded a higher value of 509.8 billion ringgit in the second quarter, as compared with 486.2 billion ringgit in the first quarter.

The investment was mainly driven by financial and insurance or Islamic insurance activities, which accounted for 41.4 percent. This was followed by mining and quarrying with 17.2 percent and agriculture sector with 8.3 percent.

The top destinations for DIA were Singapore, Indonesia and Britain.