Malàisia: Invertir a Malàisia
Global foreign direct investment (FDI) flows in the first half of 2021 reached an estimated USD 852 billion, showing stronger than expected rebound momentum, with an increase of 78% of the partial-year growth rate on the previous year according to UNCTAD’s Investment Trends Monitor released on October 2021. The global FDI outlook for the full year 2021 has also improved from earlier projections. The current momentum and the growth of international project finance are likely to bring FDI flows back beyond pre-pandemic levels. Nevertheless, the duration of the health crisis and the pace of vaccinations, especially in developing countries, as well as the speed of implementation of infrastructure investment stimulus, remain important factors of uncertainty. Other important risk factors, including labour and supply chain bottlenecks, energy prices and inflationary pressures, will also affect final year results. (UNCTAD, October 2021). Covid’s impact on developing markets and shifting investment from China are major trends that will impact foreign investment in 2022.
According to UNCTAD's World Investment Report 2021, FDI inflows declined 55% to USD 3 billion. The FDI stock was about USD 174 billion in 2020. Multinationals in the M&A sector, such as those in the health and mining sectors (e.g. the acquisition of a stake in IHH Healthcare by Mitsui & Co, Japan and in Seb Upstream by OMV, Austria) have sustained the level of investment. According to the Department of Statistics Malaysia, FDI inflows recorded a net inflow of RM14.6 billion in 2020 compared to RM32.4 billion in the previous year, due to global economic uncertainties because of the pandemic situation. The decrease in FDI inflows was driven by lower equity and investment fund shares and higher loans extended to overseas affiliates. Services and manufacturing sectors were the main contributors to FDI flows in 2020, followed by Mining & quarrying. Investment in the Services sector was particularly in financial and utilities, while Manufacturing was largely in the electricity, transport equipment and other manufacturing subsectors. The main investors in terms of FDI flows are Singapore, Thailand and China.
Despite a difficult situation in 2020, Malaysia continues to be an attractive investment destination amid rising trade tensions across the world. The authorities seek to position Malaysia as a gateway to the ASEAN market by offering various incentives to foreign companies, notably the status of pioneer company and tax reductions associated with investments. The country benefits from a high-skilled and English-speaking workforce. As such, the country is ranked 12 out of 190 economies by the World Bank in its last Doing Business 2020 report, gaining three spots from the previous year. However, the government maintains a large discretionary power for authorising investment projects and uses it to obtain the maximum benefits from foreign participation and by demanding agreements that are advantageous in matters of transferring technologies or creating joint ventures.
The latest United Nation Asia-Pacific Trade and Investment Trends Report provides additional information on FDI in Malaisia and Asia-Pacific in 2021 and 2022.
Foreign Direct Investment | 2019 | 2020 | 2021 |
FDI Inward Flow (million USD) | 7,813 | 3,160 | 11,620 |
FDI Stock (million USD) | 168,059 | 170,683 | 187,375 |
Number of Greenfield Investments* | 171 | 100 | 121 |
Value of Greenfield Investments (million USD) | 8,946 | 7,279 | 24,803 |
Source: UNCTAD, Latest available data
Note: * Greenfield Investments are a form of Foreign Direct Investment where a parent company starts a new venture in a foreign country by constructing new operational facilities from the ground up.
Country Comparison For the Protection of Investors | Malaysia | East Asia & Pacific | United States | Germany |
Index of Transaction Transparency* | 10.0 | 5.9 | 7.0 | 5.0 |
Index of Manager’s Responsibility** | 9.0 | 5.2 | 9.0 | 5.0 |
Index of Shareholders’ Power*** | 8.0 | 6.7 | 9.0 | 5.0 |
Source: Doing Business, Latest available data
Note: *The Greater the Index, the More Transparent the Conditions of Transactions. **The Greater the Index, the More the Manager is Personally Responsible. *** The Greater the Index, the Easier it Will Be For Shareholders to Take Legal Action.
Malaysia's economy is already relatively well internationalised and relies on diversifying and growing exports. The country has also managed to create a healthy business environment, ranked at the 12th position in terms of ease of doing business out of 190 countries in the World Bank's 2020 Doing Business Report. The country continues to strive to make its economy attractive to FDI by implementing a broadly liberal and transparent investment policy by proposing in addition:
The main weaknesses of Malaysia in terms of FDI are:
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Actualitzacions: January 2023