KUALA LUMPUR, April 22 – The Ministry of Investment, Trade and Industry (MITI) is optimistic that South Korea will climb up the ranks as among the main sources of foreign direct investments (FDI) into Malaysia soon.
This is because most of the investments from South Korea are in the chemical and petrochemical sector, which is one of the focus sectors under the New Industrial Master Plan (NIMP 2030), said its minister Tengku Datuk Seri Zafrul Abdul Aziz.
He said that of the 11 priority segments, the chemicals segment has been identified as one of the high-impact, high-growth sectors that would contribute to the NIMP 2030 overall targets.
“The specialty chemicals market is substantial. And there is an opportunity for Malaysia to capture that business by producing specialty chemicals domestically, capturing both domestic market demand and export opportunities.
“Our strategies are also laid out in our Chemical Industry Roadmap 2030, which aims for our chemical industry to be ranked first in Asean in terms of FDI inflow by 2030,” he said in his speech during the launch of the new OCI Holdings regional headquarters on Sunday.
In 2023, the country’s main sources of FDIs were Singapore, the United States, China and Japan.
