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The Ministry of Investment, Trade and Industry (Miti) believes that South Korea will become a major source of foreign direct investment (FDI) in Malaysia, especially in the chemical and petrochemical sectors.
The minister said chemicals are one of the key areas in the New Industrial Master Plan (NIMP 2030) and are expected to contribute to Malaysia’s economic growth. Malaysia has an opportunity to capture this business by producing specialty chemicals to meet domestic demand and export.
He pointed out that OCI Malaysia and its joint venture partners have committed nearly RM16 billion in investments, including the production of polysilicon and epichlorohydrin (ECH) for semiconductors and solar cells.
The move also showcases Malaysia’s attractiveness as a top destination for foreign investment, as well as multinational companies’ confidence in its economy, infrastructure and talent. He said.
(Source: Malaysia News Agency Image source: freepik)
