PETALING JAYA: Eleven years ago during the Global Financial Crisis, Malaysia’s approved private investments almost halved while the net foreign direct investment (FDI) took a 78.6% plunge.
That situation would likely repeat this year on the back of a double whammy of the coronavirus (Covid-19) pandemic and oil price rout.
The economic turmoil brought about by the pandemic has shaken both local and multinational companies alike and they will be taking a step back with their pockets sewn shut as they hold off their investment decisions.
Malaysia recorded RM207.87bil of approved investments last year, which was just a 1.72% improvement from 2018. It comprised RM125.49bil of domestic direct investment (DDI) and RM82.38bil of FDI.
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