(MENAFN- Qatar News Agency) The Malaysian Investment Development Authority (MIDA) is targeting for RM170 billion investments in manufacturing and services sector by year-end.
Its Deputy Chief Executive Officer, Datuk Phang Ah Tong, said for the first six months of this year, the authority had approved some RM49 billion of investments in manufacturing sector and RM62 billion in services sector. "So this means the investments for both segments were already more than RM110 billion. But, by the end of this year, we still expect to secure at least RM170 billion in total investments for the two segments," he told reporters after the opening of a new Bosch sales office in Bukit Indah here.
Phang was asked about the target investments in the manufacturing sector by the end of this year. Phang said he also believed that despite the challenging global economic growth, the manufacturing sector would continue to drive the Malaysian economy, supported by the services sector.
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