Malaysia needs to do more to push up private investments to 20%-25% of GDP if it wants to turn into a high-income economy by 2020, says RHB Research. "It is increasingly challenging for Malaysia to attract foreign direct investments due to globalization and rising costs of doing business in the country," says the report; it adds that FDI still remains an important driver to help deepen Malaysia's industrialization and bring its companies up the value chain. Private investments accounted for 17.2% of GDP in 1H, up from 13.4% for the same period in 2011. Malaysia so far has attracted MYR203 billion in investments for 138 projects under its Economic Transformation Program that began in 2010 with the aim of lifting the country into a high-income economy.
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