Malaysia is a member of Developing-8 (D-8), which facilitated the formation of bilateral trade relations among member countries. This study focuses on Malaysia’s foreign direct investments (FDIs) within D-8. The purpose of this study is to strengthen the FDI ties with D-8 member states, where Malaysia must focus on cooperating for long-term investments and examining the existing FDI policies under Malaysia and its D-8 counterparts, as well as studying the opportunity of interdependence between Malaysia’s FDIs with D-8 member states. The main issue is the imbalance of Malaysia’s FDI preference with D-8 member states, which is followed by the weakness of Malaysia’s FDI outwards policy, specialised among the D-8 counterparts. Thus, Malaysia’s FFDI lacks penetration with D-8 member states. The qualitative research method, data collection, interviews, and content analysis method are used for this study. The respondents’ agencies for interviews are experts from the Ministry of Foreign Affairs (MOFA), The Bilateral Economic and Trade Relations Division of the Ministry of International Trade and Industry (MITI and the Foreign Investment Promotion Division of the Malaysian Investment Development Authority (MIDA). Coding techniques are applied for the coding process of the content analysis. This study also uses the theories of interdependence and political economy with SWOT analysis to examine the implementation of Malaysia’s FDI with D-8 counterparts. The findings of the study show that Malaysia is looking for quality investments without choosing where the investments come from, and FDIs with D-8 counterparts in several sectors can still be implemented if the D-8 counterparts are offering quality investments for Malaysia.