Malaysia's net FDI inflow in 2016 rises 19.8% on year

KUALA LUMPUR - Malaysia's net foreign direct investment (FDI) inflows rose 19.8 percent year-on-year to 47.2 billion ringgit ($11.13 billion) in 2016, with Asia taking the lion's share of the total, said Malaysia's statistics department Friday.

The department said in a statement that Asia accounted for 35.2 billion ringgit, or 74.6 percent of the total FDI in 2016, followed by Europe's 6.7 billion ringgit or 14.1 percent.

In Asia, Singapore, the Chinese mainland and China's Hong Kong were the top three sources.

In 2016, 50.9 percent of FDI went the services sector, mainly in utilities sub-sector, financial and insurance services.

In addition, manufacturing, mining and quarrying constituted 43.3 percent of the total FDI flows.

According to the statement, the total FDI position in 2016 stood at 546.6 billion ringgit.