KUALA LUMPUR: Approved investments climbed for the fourth consecutive year in 2014, rising to a new high of RM235.9bil compared with RM219.4bil recorded in 2013, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
Domestic investments accounted for 72.6% of the total while new investments in the manufacturing sector rose 38% to RM71.9bil.
The approved projects last year would create 178,360 new jobs, Mustapa said.
He said the Government was setting a modest target of RM56bil for approved projects in the manufacturing sector amid a more challenging global economic outlook.
“We are planning to introduce tax and location incentives for principal hub companies,” Mustapa said at an economic event organised by the Performance Management and Delivery Unit (Pemandu) yesterday. The Government, he said, would include customised incentives to attract more foreign investors.
The economy expanded 6% in 2014, boosted by steady growth in the construction and...