“Foreign investors usually consider DDI as a benchmark for domestic investors’ confidence and commitment towards government policies for strengthening the nation’s investment and business landscape,” he said in a statement, Bernama reported.

Anwar said the government has set DDI as a key performance indicator for growing the country’s total investments.

The investment, trade and industry ministry is committed to achieving a good balance between FDI and DDI to ensure sustainable and balanced development throughout the country.

Anwar said more comprehensive efforts must be made to increase DDI.

For 2022, a total of 4,517 projects involving investments of RM267.7 billion were approved in the services, manufacturing and primary sectors.

These were expected to create 140,440 jobs. DDI contributed RM104.4 billion, or 38.9% of the total.

For the first quarter of 2023, the ratio was 52.5% for FDI and 47.5% for DDI, with committed investments totalling RM71.4 billion (a year-on-year growth of 59.7%).

Anwar said the National Investment Council (MPN), which met today, discussed the best mechanism to streamline the country’s investment promotion agencies.

It has decided to reactivate the investment coordination committee between the ministry and all these agencies.

Anwar, who is also finance minister, said that having a more strategic domestic industry ecosystem is crucial for generating more sustainable gross domestic product growth.

It would also empower the domestic economy’s ecosystem in weathering global challenges such as climate change, and post-pandemic and geopolitical challenges.

Such challenges have led to supply chain disruptions, rising raw material prices and a high global inflation rate, Anwar said.