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Malaysia attracts USD20.7bn investments in Q1, up 60% YoY

Malaysia secured MYR71.4bn (USD20.7bn) of approved investments in Q1 2023, marking a 60% increase from the same period last year, according to Prime Minister Anwar Ibrahim. These investments will fund over 1,200 projects and create approximately 24,000 jobs. Half of the total investments came from foreign direct investment (FDI), spurred by strong interest from firms including Tesla and Amazon Web Services. Anwar, who is also finance minister, hailed this as a sign of “restored confidence” in Malaysia’s economic outlook. Among the measures planned to further stimulate Malaysia’s capital market, Anwar announced the reduction of stamp duty charges for shares traded on the national stock exchange to 0.1% from July. Details of further plans will be announced with the New Industrial Master Plan 2030 in August.


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