KUALA LUMPUR, June 25 (Xinhua) -- Foreign direct investment (FDI) in Malaysia recorded a higher net inflow of 51.5 billion ringgit (12.16 billion U.S. dollars) in 2024, up from 38.6 billion ringgit in the preceding year, official data showed Wednesday.

The Department of Statistics Malaysia (DOSM) said in a statement that in terms of position, FDI stood at 995.5 billion ringgit at the end of 2024 as compared to 924 billion ringgit in 2023.

Meanwhile, foreign companies operating in Malaysia generated a total income of 99.8 billion ringgit, an increase from 88.4 billion ringgit in 2023.

The services sector was the main contributor to FDI flows in 2024, attracting a net inflow of 39.4 billion ringgit, followed by the manufacturing sector with 9.1 billion ringgit and mining and quarrying 5.3 billion ringgit.

The statement also said that, in terms of FDI position, the services sector held the largest share with a total value of 524.8 billion ringgit as at the end of 2024.

The manufacturing sector continued to generate the highest FDI income, amounting to 54.6 billion ringgit. (1 ringgit equals 0.24 U.S. dollar) ■