KUALA LUMPUR, Aug 10 (Bernama) — Foreign Direct Investments (FDI) in Malaysia from its ASEAN peers is expected to gain momentum with the ASEAN Economic Community (AEC) becoming a reality from Dec 31 this year.
Minister of International Trade and Industry (MITI) Datuk Seri Mustapa Mohamed said the sustained removal of barriers among the 10-member grouping, had led to an expansion in intra-ASEAN trade and investments, from US$1.22 billion in 2000 to US$24.4 billion in 2014.
“This accounts for 17.9 per cent of the total US$136.2 billion FDI inflows into the region last year,” he told reporters at the AEC Open Day here Monday.
Mustapa said similarly, intra-ASEAN trade accounted for 24 per cent of the total ASEAN trade or US$608 billion.
Meanwhile, ASEAN’s per capita income now stands at US$4,130 with intra-ASEAN trade expected to grow to 30 per cent by 2020.
He also said being the ASEAN Chairman this year, Malaysia wants to prepare local small and medium enterprises...Read More