00:00 What is your estimation for this year's FDI realisation of the sum?
00:06 Yeah, so the first question, based on track record, now we have of course JT, TGP to monitor,
00:12 but there is a system called TRAC and it was implemented since the year 2021. So based on that,
00:23 we also backtrack to see how successful in terms of approved investment becoming a realised investment
00:30 is around 80 percent. So 80 percent based on what we've seen, based on the data that we have.
00:37 Because first of all there was all this investment commitment and then when they commit,
00:43 we then do the cost benefit analysis, we discuss with the relevant agencies, ministries
00:49 on incentives, on what are the guidelines to give them and after that usually
00:54 then if they agree, then it becomes an investment that we approve. So after approved investment,
01:02 we monitor how much is realised, it's based around 80 percent so far and I think that number
01:07 we should try and improve on that. I'm not saying that we're satisfied with that
01:13 because most of the issues, apart from companies deciding not to because of their own reasons,
01:20 sometimes there are challenges also that are on our side that we need to address.
01:24 Because once approved, usually it should be tried and completed.
01:28 But on the target this year, we don't have a target, but if we want, we can number it.
01:39 Because I don't want to put Maida in a spot. So we hope that we should be on track
01:44 to beat last year's target. Alhamdulillah, the investment for the first nine months,
01:51 compared to the first nine months last year, was up by 6.6 percent, despite a negative
01:55 FDI globally. Last year and this year also will be negative FDI investment globally.
02:02 That's the number from the United Nations trade.
02:07 But from the investment side, today we will announce that the investment for the first nine months,
02:17 from January to September 30, was up by 225 billion ringgit. This is 6.6 percent higher
02:29 than the same time in 2022. And also in terms of employment,
02:36 almost 90,000 jobs will be created. And in terms of FDI and DDI, it is more or less the same.
02:45 This shows the confidence of domestic investors in terms of DDI.
02:50 I want to break it down in detail, which is 56 percent FDI and 44 percent DDI. And at the same time,
02:59 we can see that in the first nine months, the amount I announced earlier was 225 billion ringgit,
03:08 higher than the investment for the last ten years, which is more or less 222.6 billion ringgit.
03:19 I hope we can achieve our target so that investment continues to increase. This is
03:25 compared to the investment in the global FDI world, which shows a negative trend for now.
03:32 In particular, in 2024, MITI will focus and prioritize in terms of investment.
03:41 Our target is to accelerate the investment process and to achieve our target for the digital economy
03:52 of 130 billion ringgit, and also to complete the rationalization of our investment agency
04:02 by January, God willing, at the National Investment Conference later, and to attract the type of
04:08 investment that is targeted. That is in terms of investment. In terms of trade, we want to target
04:13 an increase of 5 percent for next year, where we know that the WTO's focus shows a rather challenging trend.
04:25 But we want to open up new markets for Malaysia, including in the Middle East, Africa, and South America.
04:34 In terms of the EU FTA, we have a workshop with the EU to do scoping, where we will do
04:48 a session with all of our ministries and government ministries to ensure that the issues raised
04:58 can be agreed upon, like the CPTPP, and the process. And for us, as long as the FTA and EU
05:11 do not benefit our company or the positive economic development that we want to target,
05:17 it is a bit difficult for us to agree. For example, during the CPTPP, in terms of the issue of palm oil,
05:25 there was zero tariff, and yet all countries agreed, including the UK, which was part of the EU.
05:34 So we will look at that. In terms of other FTAs, we hope to achieve our target,
05:42 one of which is the UAE, our Comprehensive Economic Partnership Agreement, which will be
05:49 implemented on 1 February. And we are also in talks, but this is not an FTA, but an IPEF,
06:06 where we have agreed on the second, third, and fourth pillars. There is one more pillar left,
06:13 which is the trading pillar. And with three other countries, EFTA countries, Switzerland, Norway, and Lincolnstein.
06:37 We are monitoring that. Of course, we have plans to improve some of the FTAs to make it relevant,
06:53 especially in the area of green and digital. So that is an upgrade of some FTAs.
06:59 Thank you.
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