Financial Digest

Pleasant surprise amid the gloom

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Penang recorded RM7.1bil of approved manufacturing investment in the first quarter of 2020.

He said the amount recorded from January to March by Malaysian Investment Develop-ment Authority surprised the state given the challenging global macroeconomics environment.

Chow said foreign direct investment accounted for RM6.8bil of Penang’s manufacturing investment inflows while RM321mil were domestic direct investment .“I am pleased to note that Penang is a major contributor towards the country’s FDI with a majority of 64% share in the country’s total FDI, ” he added.

 

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