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Malaysia to attract investments through streamlined approval process

Malaysia is refining the roles of its investment promotion agencies to enhance the business environment and expedite business approvals, Trade Minister Zafrul Abdul Aziz announced. The intent is to offer investors a "simple journey" by outlining clear duties for each approval authority. Malaysia is concentrating on its electrical and electronics sector to attract investments, competing with counterparts in South-east Asia. In the first quarter of 2023, Malaysia pulled in RM71.4 billion ($20.7 billion) in approved investments, marking over a 60% increase from the previous year. More than half of this sum was from Foreign Direct Investment. Zafrul urged both existing and potential investors to provide feedback on improving the investment process in Malaysia.


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