Malaysia antara ‘Fabulous 5’ Asean, dijangka tarik banyak FDI

Malaysia is positioned among the top five Asean economies likely to attract the most foreign direct investment (FDI), according to top global economist IQI Shan Saeed. These economies are Malaysia, Indonesia, Thailand, the Philippines, and Vietnam. Saeed referred to this group as the 'Fabulous Five', highlighting their potential to benefit from FDI driving productivity capacity in the region.

Saeed predicts these five economies will collectively receive USD85.3 billion in FDI by 2025, accounting for approximately 35% of the total Asean FDI of USD243.9 billion. The projection is based on the UNCTAD World Investment Report 2026 data.

Saeed notes that these projects signal a clear shift towards investment in physical capital, including factories, data centers, and semiconductor capacities in the region. According to UNCTAD, FDI in manufacturing within the region has increased nearly 150% to USD44 billion in 2024.

The economist highlights the strengthening of digital infrastructure as another factor supporting these prospects, citing a McKinsey prediction that the global data value chain will require around USD6.7 trillion in investment from 2025 to 2030. McKinsey has identified Johor, Jakarta, Indonesia, and Chonburi, Thailand as upcoming data center hubs in Asia.

Saeed also references The Economist's thoughts on whether Malaysia's data center development could help the country move beyond a lower-middle-income economy. He emphasizes that these five economies possess complementary strengths - Indonesia's natural resources, Malaysia's semiconductor sector and digital infrastructure, Thailand's manufacturing capacity, Vietnam's export platform, and the Philippines' service platform.

However, he warns that attracting investment is only the first step and that safety, credibility, and human capital depth will ultimately determine how much of the announced investment translates into operational capacity, high-skilled employment, and higher-value supply chains.