INVESTMENTS in Malaysia's manufacturing sector halved last year, bitten by the global recession, but foreign direct investment (FDI) is expected to recover moderately this year.
This is because the economies of its foreign investors are set to improve. The International Monetary Fund, for instance, has raised its global economic growth forecast to 3.9 per cent for this year from 3.1 per cent.
The government approved manufacturing investments worth RM32.6 billion last year, down from RM62.8 billion in 2008.
Out of the 766 projects approved by the Malaysian Industrial Development Authority (Mida), foreign investments made up 67.8 per cent, or RM22.1 billion.
"Foreign investments in projects with investments of RM1 billion and above accounted for 37.3 per cent of the total (investments approved), indicating FDI inflows into the country were mainly for quality investments," International Trade and Industry Minister Datuk Seri Mustapa Mohamed said at the investment agency's annual media conference in Putrajaya yesterday.
FDI was mainly in industries manufacturing chemicals and chemical products, non-metallic mineral products, and electronics and electrical products.
In 2008, before the global economic crisis, the country attracted RM46.1 billion of investments
"(The year) 2009 has been tough for all of us. But we also see a better balance between foreign and domestic investments," Mustapa said.
Domestic investments amounted to RM10.5 billion, or a third of the total approved. They were mainly in industries making basic metal products, chemicals and chemical products, are among countries with RHD markets.
BYD's gas-powered cars, F0 and F3, are China's top sellers.
The Chinese manufacturer of batteries and cars aims to become the market leader in new energy vehicles (EV).
Its EV model, F3DM, operates as a plug-in hybrid vehicle, while the soon-to-be-launched e6 will be the first pure-electric vehicle.
The e6 will be launched in China in the first quarter, and in the US by year-end.
Berjaya Group holds 51 per cent of Changan Berjaya Auto Sdn Bhd, a joint venture with China's ChangAn Auto Co Ltd, to distribute Changan Era cars here.
The group also owns distribution rights for brands such as Mazda, Skoda and Mercedes-Benz.
Berjaya Group also plans to assemble Mazda 3 cars in Malaysia soon.
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