UPDATE

Intensifying Engagements Through The SME Investment Desk

MIDA Nurtures Global Champions among Local Companies

30 November 2017, Penang –More than 80 Penang-based manufacturers benefitted from the briefing on the latest facilities provided by the Government, a session jointly organised today by the offices of Malaysian Investment Development Authority (MIDA) and Federation of Malaysian Manufacturers (FMM) in Penang. The programme, an initiative under the SME Investment Desk spearheaded by MIDA, was graced by YBhg. Dato’ Dr. Ooi Eng Hock, Chairman of FMM Penang Branch with the presence of Puan Azhana Mohamed Saleh, Director of MIDA’s regional office in Penang.

Under the auspice of YB Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry (MITI), MIDA has earlier of this year established the SME Investment Desk at its HQ and twelve states offices throughout Malaysia. The Desk act as a One Stop Centre for local players to easily obtain guidance and advice on the Government’s initiatives and facilities in building sustainable business collaborations through supply chain development at the local, regional and global levels. Its establishment underscores MIDA’s commitment in facilitating domestic investments and advocating the development of supply chains between Malaysian companies including SMEs with MNCs and large corporations in the country.

“To date, MIDA Penang has organised three such programmes which saw the participation of over 80 local industry players here. We are pleased to share that there will be more of these programmes in the pipeline as we continue to engage companies on the ground to gain invaluable feedbacks in nurturing global champions among local companies. In addition to enlightening them on the latest facilities and incentives available, we also seek to ensure that our domestic players will be on the same page with the Government when it comes to embracing the Fourth Industry Revolution through automation. The transition is indeed very crucial to sustain the competitiveness of our local players in achieving sustainable economic growth in the future,” said the Director of MIDA Penang.

Dato’ Dr. Ooi Eng Hock commented that, “The Government has proposed substantial allocations to assist the SMEs financially in the Budget 2018. Various financial incentives and grants were announced by our Prime Minister. We noted that a matching grant of RM245 million was allocated to enhance the smart manufacturing facilities of manufacturers under the Domestic Investment Strategic Fund managed by MIDA to align SMEs with Industry 4.0. With this incentive, we wish to urge the manufacturers to aggressively grab these opportunities to upgrade their companies. If they act fast to grow with the Economic Transformation Programme, they will have the potential to excel to the next level and become the next global players. We wish to thank the Minister of MITI for establishing the SME Investment Desk which will provide guidance and assistance to SMEs on the various incentives and facilities provided by the Ministry. We are confident that MITI and MIDA will continue to play important roles in nurturing global champions among local companies.”

As at December 2016, a total of 2,923 manufacturing projects with total investments of RM86.3 billion have been implemented in Penang. These projects have created more than 374,000 employment opportunities for the rakyat. For the first half of 2017, MIDA has approved an additional of 61 manufacturing projects with investments worth RM7.7 billion for the state with bulk of them or 83% are in the Electrical and Electronics (E&E) and Scientific and Measuring Equipment industries.


For more information, please contact:

Puan Azhana Mohamed Saleh
Director, MIDA Pulau Pinang
Tel.: 04-228 0575
Email: penang@mida.gov.my

Posted on : 30 November 2017
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Last Updated : Wednesday 21st February 2018