July Archives

As announced in May, this year, the Malaysian Investment Development Authority (MIDA) has established the East Coast Rail Link (ECRL) Unit as a dedicated contact point to facilitate and promote the development of the Economic Accelerator Projects (EAP) along the ECRL corridor. The Unit is currently engaging with the respective states and interested parties to inform and promote the EAPs

As announced in May, this year, the Malaysian Investment Development Authority (MIDA) has established the East Coast Rail Link (ECRL) Unit as a dedicated contact point to facilitate and promote the development of the Economic Accelerator Projects (EAP) along the ECRL corridor. The Unit is currently engaging with the respective states and interested parties to inform and promote the EAPs.
Thus far, MIDA has been involved in many awareness programs to provide information regarding ECRL, including the interview with Bernama News Channel (31 May 2019), the Malaysia-China Manufacturing Roundtable Meeting in Sabah (14 June 2019) and the Malaysia-China Outlook Forum (8 July 2019). Moving forward, MIDA plans to organise seminars and business events to further promote and receive information from companies keen to take part in EAP development.
Based on the Memorandum of Understanding (MoU) signed by MIDA with the China Communications Construction Company Ltd. (CCCC), MIDA, as the principal investment promotion agency of the country will identify and assist interested Malaysian companies to cooperate with CCCC in the EAPs.
The EAPs will include the development of an industrial park in the East Coast and West Coast of Peninsular Malaysia to attract trade and investments along the ECRL corridor. It also involves the establishment of logistics hubs at transport interchanges to promote connectivity and transportation of goods under the ECRL project, and transit-oriented development (TOD) stations to promote new development and to support the growth of industrial parks.
The MoU facilitates cooperation via the establishment of special purpose companies (SPC) between CCCC and the interested Malaysian company for the development of the EAP. CCCC will undertake a feasibility study, development planning, marketing strategies, including investment into the project.
MIDA, through its promotional network, will facilitate the provision of suitable land for project development. Under the MoU, no exclusivity of land is determined or granted to any parties. Land policy is under the purview of the state authorities. Conditions may be imposed by the respective state authorities handling land matters, namely State Land and Mines offices, depending on the category of land being applied for. Land reserved for natives and Bumiputera cannot be owned by foreigners.

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For more information, please contact:

En. Farez Amha Abdullah

Senior Deputy Director, ECRL Unit, MIDA

Tel.: 03-2267 3462

Email: [email protected]

ABOUT MIDA

MIDA is Malaysia’s principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram and Facebook, @OfficialMIDA.

Posted on : 11 July 2019

MIDA Urges Domestic Companies to Join the Economic Accelerator Projects

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Approved Investments in the Manufacturing Sector Reached RM137.9 billion, 1980 – March 2019

16 July 2019, Bayan Lepas, Penang – “The Penang state has consistently been ranked among the top investment destinations in the country over the last five decades. In terms of investment, from 1980 to 2018, MIDA has approved a total of 4,084 manufacturing projects with investments worth RM129.1 billion for Penang. Approved foreign investments in the manufacturing sector totalled RM90.4 billion, accounting for 70 per cent of total investments approved for the State, while domestic investments are the remaining 30 per cent or RM38.7 billion. In the first quarter of this year, Penang recorded another RM8.8 billion of total approved investment in the manufacturing sector, 780% higher compared with RM1.0 billion, approved in the same period last year. Of this, RM8.5 billion were from foreign investments, representing 42.1 per cent of Malaysia’s total approved FDI in the manufacturing sector for the period of January to March 2019. Notable approved manufacturing projects in Penang include projects from Micron Technology and Jabil Circuit,” said Mr. Zabidi Mahbar, Deputy Chief Executive Officer II of the Malaysian Investment Development Authority (MIDA) in his welcoming remarks at the Domestic Investment Seminar in Penang held this morning.

MIDA continues to undertake various activities and programmes to attract more quality investments, including from the domestic players. For example, a dedicated team namely the Investment Coordination Platform (ICP), established by MIDA is able to facilitate companies to expand their businesses and investment portfolio. This unit works closely with equity and corporate advisory firms as well as local regulators and technology providers in assisting companies in conducting business-to-business matching, capital raising exercise through debt & equity, M&A, divestment and initial public listing or IPO.

“For those who may not be aware, MIDA has established the i-incentive portal that provides comprehensive information on all incentives offered by various Ministries and Agencies concerning the manufacturing, services and primary sectors. The portal is very dynamic in nature as it is responsive to announcements of new incentives and assistance schemes offered by the Government, thus allowing the business community to obtain real-time information on the latest available facilities. It currently features 124 incentives schemes that are managed by 12 ministries and 28 government agencies. About 55% of these incentives cater to the services sectors, followed by manufacturing at 33% and the primary sector at 12% as at 30th June 2019. These incentives include tax exemptions, grants, soft loans and other forms of incentives such as equity financing, regional establishment status and training and facilitation programmes. MIDA has also developed a gateway, namely i-Services Portal as an avenue to market the services and solutions of the local service providers, both locally and abroad.” added Mr. Zabidi.

The Domestic Investment Seminar was well attended by over 300 participants from various fields, including manufacturers, service providers and other potential investors. It featured presentations by a broad range of speakers from MIDA, MATRADE, MIDF, EXIM Bank, MPC, Standards Malaysia, and SIRIM.

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About MIDA

MIDA is the government’s principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram and Facebook.

For more information, please contact:

Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid

Director, Domestic Investment and Supply Chain Coordination Division, MIDA

Tel.: 03-2267 6633 | Email: [email protected]

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Speech by DCEO II of MIDA_Penang Domestic Investment Seminar

Posted on : 16 July 2019

Penang, Among Top Investment Destinations in Malaysia

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