KUALA LUMPUR, Dec. 11 (Xinhua) -- Malaysia has approved 254.7 billion ringgit (57.58 billion U.S. dollars) of investments for the first nine months of 2024, marking a 10.7 percent increase from the previous year, its investment agency said Wednesday.
The strong performance reflects Malaysia's sustained economic momentum, propelled by the services, manufacturing, and primary sectors, the Malaysian Investment Development Authority (MIDA) said in a statement.
According to the statement, domestic investments led the way in the period, accounting for a significant 58.1 percent of the total approved investments, valued at 148 billion ringgit.
Foreign investors contributed 106.7 billion ringgit, 41.9 percent of total approved investments.
The top five foreign investments came from Germany, China, the United States, the Netherlands and Singapore.
Meanwhile, the services sector led the approved investments for the period, accounting for 160.7 billion ringgit or 63.1 percent of the total approvals.
The manufacturing sector attracted 88.8 billion ringgit, while the primary sector recorded 5.2 billion ringgit.
According to MIDA, the outlook remains promising and the agency is still in discussions with prospective investors for high-potential leads valued at 70.6 billion ringgit. (1 ringgit equals 0.23 U.S. dollars) ■