Foreign direct investment (FDI) in Malaysia reached RM17.1 billion (US$5.45 billion) in Jan-Sept 2010 and may even hit RM20 billion by year’s end if the upward trend continues, said International Trade and Industry Minister Mustapa Mohamed. The figure is a big jump from 2009′s total of RM5 billion, which disappointed many.

Mustapa took credit for the recovery by saying government initiatives had gone down well with international investors and confidence in Malaysia’s economy was growing. He added the government would promote Malaysia abroad even more aggressively, and that local companies were already benefiting from increased trade and integration with other ASEAN members.

The flow of FDI into Malaysia increased progressively in 2010, boding well for the next quarter. The largest increases were in the finance, insurance, manufacturing, oil and gas sectors.

source & article: Bernama