KUALA LUMPUR, Dec 16- The total investment approved during the period from 2020 to 2023 is RM1.1 trillion involving Foreign Direct Investment and Domestic Direct Investment.

This value encompasses three main sectors, namely manufacturing, services and the primary sector.

According to Deputy Minister of Investment, Trade and Industry Liew Chin Tong, based on this value, 18,945 projects have been approved with the potential to create 487,648 new job opportunities.

Five states, namely Penang, Selangor, Kuala Lumpur, Johor and Kedah are the main contributors to the investments.

"Out of that amount, foreign investment is the main contributor with the total approved investment amounting to RM624 billion, which is equivalent to 58.1%.

"While the domestic direct investment contributed RM4.49 billion, which is equivalent to 41.9 percent", he said when answering a question raised by Senator Manolan Mohamad in the Dewan Negara today.

In the meantime, Liew also said that the Government is currently in the process of formulating a new Investment Incentive Framework to provide added value to the economic sector as well as job opportunities to less industrialised areas.

The framework is expected to be announced in the middle of next year.

"The government relies on the 2030 industrialization Plan.

"It acts as a foundation for bringing in new sectors, especially semiconductors. For this purpose, the government will cooperate with state governments.

"We will give more specific incentives for those who bring jobs to less industrialised areas. This is the government's effort to ensure that more jobs can be transferred to less industrialised areas", he said.