Wednesday, May 02, 2007

BVI in the Malaysian list of top 10 FDI source countries

According to the information provided by the Malaysian state-run news agency, last year Malaysia attracted very high level of investments. The agency quoted International Trade and Industry Parliamentary Secretary Tan Yee Kew who said that Malaysia was the second in the Asian FDI top ranking, whith the amount of 20.2 billion ringgit (approximately US$5.9 billion; 1MYR ≈ 0.29US$). The first one is Singapore, which recorded last year 30.7 billion ringgit of foreign direct investments.

Tan Yee Kew also named the top 10 FDI source countries and their investment amounts in Malaysia in 2005 and 2006. The British Virgin Islands, with 700 million, is among these FDI leaders. The first one is Japan, with 8.1 billion ringgit; other countries in the list are the United States (7.6 billion), the Netherlands (5 billion), Singapore (4.9 billion), Australia, South Korea, the Cayman Islands, Taiwan and the United Kingdom.

Tan stated the amount of investments in Malaysia in 2006 - 46 billion ringgit for 1,077 manufacturing projects, compared to 31 billion ringgit in 2005.

The main sectors for foreign direct investments in Malaysian economy were electric and electronic products, chemicals and chemical products, metallic products, non-metallic mineral products, plastic, food, measuring and scientific instruments, machinery and equipment.

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