KUALA LUMPUR, Sept 11 — Private investment is expected to grow by 6.4 per cent per annum or an average of RM301 billion per year in current prices, supported by faster implementation of new and ongoing projects across key economic sectors.

To attract higher-quality investment, efforts will be intensified to promote technology-linked investment in high-growth, high-value (HGHV) industries, including electrical and electronics, smart farming and renewable energy (RE).

In addition, firms will be encouraged to increase investment in machinery and equipment (M&E) to expand capacity and productivity, according to the Mid-Term Review of the 12th Malaysia Plan (2021-2025) report released by the Ministry of Economy here today.

Furthermore, the report noted that existing investment initiatives will be reviewed to attract quality investment, which utilises frontier technologies and offers technology transfer.

It said the private sector will be encouraged to intensify green investment in business operations and premises, including for the development and utilisation of RE sources.

Meanwhile, the government will facilitate greater involvement of higher learning institutions, research institutes and the private sector to accelerate research, development, commercialisation and innovation activities.

These initiatives will attract higher-quality investments, particularly focusing on advanced technology.

Additionally, public investment is projected to grow by 3.9 per cent per annum or an average of RM83 billion per year in current prices attributed to the federal government development expenditure and capital expenditure by non-financial public enterprises.

As such, the government will continue to implement programmes and projects to expand the productive capacity of the economy.

These projects include the opening of new high-tech industrial estates in Kimanis and Kota Belud, Sabah and Chuping Valley Industrial Area in Perlis, as well as the expansion of Samajaya High-Tech Park in Sarawak and Tok Bali Industrial Park in Kelantan, besides the construction of Central Spine Road and implementation of Pelan Jalinan Digital Negara (Jendela), the report said. — Bernama