Malaysian Investment Development Authority's (MIDA) Chief Executive Officer, Datuk Azman Mahmud, said Malaysia's foreign direct investments (FDIs) rose by 22 per cent to US$12 billion in 2013.
He said the country was the seventh largest recipient of FDIs in developing Asia, ahead of the South Korea, Vietnam and Taiwan.
"The leading indicators are showing that we are on the uptrend, and if all these investments are implemented according to the plan, we will have a strong growth to further contribute to the economy," he told media briefing after the launch of the World Investment Report 2014 here Wednesday.
Earlier in his presentation on 'Investing in the SDGs: An Action Plan', Azman said the government has introduced new policies and measures to create a conducive business environment to attract investors, both public and private sectors.
He said the elements of sustainability and inclusiveness were embedded in the New Economic Model and Economic Transformation Programme vis-a-vis the National Key Economic Areas to chart Malaysia's development goal in achieving developed and high-income nation by 2020.
"This is testimony to Malaysia's cognizance of the importance of sustainable development in moving forward particularly relating to promotion and attracting investment," he said.
Azman said the government would continue to undertake and adopt the ecosystem approach in developing both the manufacturing and services sectors.
"As the government agency, MIDA will be leveraging on new sources of competitive advantages through an integrated and holistic approach to promote the entire value chain of industry clusters," he said.
Malaysia has been adopting the more selective and targeted approach in attracting quality investments and the government too, has long recognised the need to shift to high value-added, high technology, knowledge-intensive and innovation-based industries as part of its strategy to sustain the momentum of economic growth and to improve the competitiveness and resilience of the Malaysian economy, he said.
Earlier, United Nations Resident Coordinator for Malaysia, Michelle Gyles-McDonnough, said Malaysia's achievement of the SDGs were insufficient.
"The implementation will take some time, but there is an ongoing effort being made," she said.
Gyles-McDonnough said MIDA played an important role in strategically mobilising, nurturing and incentivising investments towards achieving long-term development targets.