The services sector accounted for the largest share of the pie, followed by the manufacturing and primary sectors.
The services sector saw approved investments totalling RM154 billion or 58.2 per cent of the total approved investments for the year.
A large proportion of the approved investments took place in Johor , followed by Selangor , Sarawak , Kuala Lumpur and Penang , he said. "Malaysia is also putting in all efforts to emerge rapidly as ASEAN's digital hub, driven by several key factors, including its highly developed information and communications technology infrastructure, strong intellectual property protection framework and talent pool,” he said.
As for the investment outlook for 2023, he said the moderation in global economic growth may impact investment decisions globally. Tengku Zafrul added that despite global challenges such as inflationary pressures, economic uncertainty, and climate change, Malaysia's economy is expected to remain resilient this year.
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