contrastBtngrayscaleBtn oku-icon

|

plusBtn crossBtn minusBtn

|

This site
is mobile
responsive

sticky-logo

ONE STOP CENTRE (OSC) FOR BUSINESS TRAVELLERS

Guide on Application for Entry Permission

In efforts to balance public health, livelihoods and economic sustainability, a One Stop Centre (OSC) has been set up by the Malaysian Government effective 2nd October 2020 to ease the movement of business travellers by expediting the approval of their entry to do business in Malaysia.

The One Stop Centre is represented by the Ministry of International Trade and Industry (MITI), Malaysian Investment Development Authority (MIDA), Ministry of Health (MOH) and the Immigration Department of Malaysia (IMI) to ensure the legitimacy and health status of business travellers before they enter into Malaysia.

This Centre assumes a critical role in ensuring that Malaysia remains steady on the path of economic recovery and growth by enabling business travellers’ movement to do their business or work in Malaysia.

The establishment of OSC for Business Travellers consists of the following components:

  1. OSC Committee to evaluate and consider applications for Business Travellers entry;
  2. Business Travellers Centre (BTC) to facilitate the incoming business traveller’s entry to Malaysia at the Kuala Lumpur International Airport (KLIA);  and
  3. A dedicated website containing information and advisory services to facilitate the entry of Business Travellers.

The OSC Committee evaluates and approves two types of applications, namely Long Term Business Travellers and Short Term Business Travellers. The committee meets daily and decisions are made within three working days for each applicant upon receiving complete information.

Long Term Business Travellers

Long Term Business Travellers are business travellers that stay in the country for more than 14 days and holding valid passes. The applicants will need to adhere to the necessary requirements and submit their Entry Permission application online via MyEntry or MyTravelPass systems.

The Long Term Business Travellers who are required to submit the application via MYEntry system at https://myentry.myxpats.com.my are as follows:

  1. New/Existing expatriates stranded abroad, namely active pass holders of the EP and Resident Pass-Talent (RP-T)
  2. New/Existing foreign technical experts stranded abroad with Professional Visit Pass (PVP) to serve multiple customers across Malaysia
  3. Frequent foreign business travellers (Exit & Return) including RE/RO/PH representatives

Meanwhile, the Long Term Business Travellers who are required to apply via MyTravelPass system at https://mtp.imi.gov.my/myTravelPass/main are as follows:

  1. Permanent Resident (PR) Pass Holders
  2. Malaysia My 2nd Home (MM2H) Social Visit Pass Holders
  3. Frequent Malaysian business travellers (Exit & Return)
  4. Social Visit Pass Holders

Short Term Business Travellers

Short Term Business Travellers are business travellers that stay in the country for 14 days or less. These Business Travellers are required to obtain a support letter manually from the OSC secretariat for quarantine exemption prior to the submission of application for entry permission via MyTravelPass at https://mtp.imi.gov.my/myTravelPass/main under the category of Foreigner (Social Pass). This mechanism is a temporary measure while the upgrading of the MYEntry System for online application by Short Term Business Travellers is completed.

The category of Short Term Business Travellers comprises of:

  1. Potential investors seeking to do business in Malaysia
  2. Existing investors namely business owners, board members, executives and associates of companies in Malaysia (without Employment Pass)
  3. Business customers for product qualification and validation before commercial production
  4. Technical experts for ad-hoc emergency cases to serve single or multiple customers across Malaysia

The request for support letter by Short Term Business Travellers can be emailed to [email protected] by providing the following information:

  1. Invitation letter (from Ministry/Government Agency/Company registered in Malaysia)
  2. Detailed Itinerary
  3. Copy of Passport ID Page (Coloured)

Both Long Term and Short Term Business Travellers must obtain relevant visas (if applicable) from the respective Malaysian Embassy or High Commission or Consulate General Offices abroad prior to their departure to Malaysia.

Business Travellers Centre

Malaysian Investment Development Authority in collaboration with the Ministry of Health is finalising the construction of Business Travellers Centre at KLIA which will provide the services of Liaison Officers as well as the COVID-19 test for Short Term Business Travellers. A dedicated website containing information and advisory services to facilitate the application for the entry of all business travellers into Malaysia is also in progress.

An announcement will be issued soon upon the completion of the upgrading of MyEntry system and the construction of Business Travellers Centre at KLIA for Short Term Business Travellers.

For general enquiries, please contact the OSC Secretariat at [email protected]  

OSC Secretariat (Industry Talent Management and Expatriate Division)

Malaysian Investment Development Authority (MIDA)

Level 20, MIDA Sentral

No. 5, Jalan Stesen Sentral 5

Kuala Lumpur Sentral

50470 Kuala Lumpur

Phone: +603-2267 3633/3607

ONE STOP CENTRE (OSC) FOR BUSINESS TRAVELLERS


Content Type:

Duration:

Shah Alam, Selangor, 18 December 2020 – Panasonic Appliances Air-conditioning Malaysia Sdn. Bhd. (PAPAMY) and Universiti Malaya (UM) have agreed to establish cooperation by signing a Memorandum of Understanding (MOU) for Academic- Industrial Collaboration. The MOU signing ceremony was witnessed by Mr. Ahmad Khairuddin Abdul Rahim, Deputy Chief Executive Officer II of the Malaysian Investment Development Authority (MIDA).

The signing of the MoU establishes a strong framework for strategic collaboration of Masters and PhD research projects, industrial training and job placements as well as research between UM’s professors, researchers and PAPAMY. The immediate scope of focus for this collaboration will be in the area of Industry 4.0 enhancement, particularly in the field of manufacturing and engineering excellence.

Mr. Ahmad Khairuddin commended on this partnership, saying “Panasonic’s presence in Malaysia is the prime example of how business and technology evolve as the Company has been continuously making necessary adjustments to reskill its talent and shift towards automation and robotics. While many companies are unwilling to spend for training during this turbulent time, PAPAMY has chosen to initiate an industry-academia collaboration with a reputable local university, UM that looks to elevate our workforce with relevant digital skills, resilience and agility to face the challenges posed by the uncertain economic climate.”

The Panasonic Group of Companies in Malaysia was first establishment in 1965. The Company has been continuously investing and contributing to the development of the Malaysian economy. Today, the Group continues to emphasise on human development based on the founder’s philosophy “People before Product”.

The Group’s subsidiary, PAPAMY was established in Malaysia in 1972. It continues to pursue targeted investments in its two facilities in Shah Alam, particularly in transforming its facilities into the Smart Factory concept, shifting away from more labour intensive manufacturing practices. Its facilities also include a regional R&D Centre to move up its business to undertake higher value-added and environmentally sustainable activities.

This MoU affirms the strong commitment of Panasonic towards transforming and empowering higher education through developing highly skilled knowledge and talents in line with Malaysia’s aspirations towards Industry4.0.

The Panasonic Group will continue to seek opportunities for further collaborations with top educational institutions and government agencies to establish high-level talent development programmes among Malaysians, complementing its aim of “Global technology, Local talent”.

As Malaysia is moving into the Industry 4.0 era that demands an increasing need for a combination of technical know-how, critical thinking, problem-solving capabilities as well as soft skills, our workforce needs to be advanced in fields of Industry 4.0 technology drivers such as Internet of Things (IOT) to meet the industries’ needs. MIDA hopes that this MOU which taps upon the wealth of expertise at PAPAMY and UM will be instrumental in building a talent pool that is industry-ready and dynamic for the future.

***

For further enquiries, please contact:

Ms. Azlina Hamdan

Director, Electrical and Electronics Division, MIDA

Phone: 03-2267 3791 | Email: [email protected]

Datuk Moktar Bin Mohd Salleh

Human Resource Director, PAPAMY

Phone: 03-58914124

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA 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, Facebook, LinkedIn and YouTube channel.

About PAPAMY

PAPAMY is the largest air-conditioning manufacturer in APAC region for Panasonic Group supplying to more than 120 countries around the world.

MIDA Bridges Academic-Industrial Collaboration between Panasonic Appliances Air-Conditioning Malaysia (PAPAMY) and Universiti Malaya


Content Type:

Duration:

Cyberview Sdn. Bhd. (Cyberview) today signed a Memorandum of Understanding (MOU) with the Malaysian Investment Development Authority (MIDA) to leverage each other’s capabilities and strength in capitalising domestic direct investment (DDI) and foreign direct investment (FDI) opportunities in Malaysia as their choice location for high and deep technology projects.

Dato’ Azman Mahmud, Chief Executive Officer of MIDA, says that the collaboration in attracting quality investment augurs well for the country’s economy as the market looks to get back in shape post the COVID-19 pandemic. “MIDA seeks to not only promote the development of our industrial ecosystems but also to ensure that the enablers are in place. This includes having the right infrastructure and facilities in place to cater to the requirements of businesses, particularly as we weather this pandemic. This MOU with Cyberview is undoubtedly a step towards this goal. As announced in Budget 2021, Malaysia is seeking to drive more investments in the fields of R&D, Global Trading Centre and Principal Hub. MIDA is optimistic that through this MOU, we will be able to facilitate our investors better as Cyberjaya could potentially be the ideal location for these investments given its well-equipped infrastructure and connectivity, comprehensive smart city masterplan and close radius to public and private universities supplying knowledge workers. We trust that it will translate more quality investments coming into Malaysia, particularly within the technology sphere.”

Najib Ibrahim, Managing Director of Cyberview, said, “We will be working closely with MIDA to entice and bring home sustainable investments in high value services activities including Principal Hub and Global Distribution Centers, innovative and technology-based services. We also aim to increase job opportunities, particularly in tech-related fields as well as encourage capital transfers into Cyberjaya, and ultimately Malaysia. We are confident that this MOU will enhance our city’s innovative ecosystem by spurring R&D&C activities, with efforts focused on technology clusters such as smart mobility, smart healthcare and digital creative, however we are not entirely limited to these three areas. These areas are part of our new masterplan for Cyberjaya that aims to create a unique identity for the smart city as a preferred tech investment location.”

“Forward-looking companies with innovation high on their agenda have been able to focus on gaining their competitive edge amidst the volatility and uncertainties of today’s business environment. Companies are now starting to recognise digitalisation and innovation as strategic elements to ensure business resiliency, continuity, and growth. Organisations that are looking for a quick start to their digitisation journey can explore global tech hubs like Cyberjaya that offers an innovation ecosystem supported by affordable infrastructure, a wealth of human capital, incentives as well as government and regulatory support,” Najib Ibrahim added.

The Government has mandated Cyberview to catalyse Cyberjaya’s journey towards becoming a global tech hub. In its new role as the tech hub developer, Cyberview will focus on key initiatives to advance the development of Cyberjaya, including efforts to cultivate a robust and well-developed ecosystem for the city’s existing and potential companies.

For media enquiries, please contact: 

Sikh Shamsul Ibrahim Sikh Abdul Majid 

Director, Foreign Investment Promotion Division 

Malaysian Investment Development Authority (MIDA) 

Phone : +603 2267 6633 Email : [email protected]

Nadia Azmi 

Asst. Manager, Public Relations Strategic Communications & Marketing Business, 

City and Communications Division Cyberview Sdn Bhd 

HP : (016) 260 3520 Email : [email protected]

Note to Editors 

About MIDA MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA 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, LinkedIn and YouTube channel.

About Cyberview Sdn Bhd Cyberview has been at the forefront of Malaysia’s development as a technological hub since its inception in 1996. Starting out as the landowner of Cyberjaya, it has grown from strength to strength, until maturing into its current role as the tech hub developer of Cyberjaya. For more information, please visit http://www.cyberview.com.my.

Investors and businesses that are interested in setting up operations in Cyberjaya can contact CISC for end-to-end assistance and facilitation. Services offered include facilitation of market and ecosystem-related matters, talent sourcing, expatriate processes involved and facilitation on land and buildings available in Cyberjaya. The centre also serves as a City Services & Cybercity Manager, facilitating enquiries regarding the township and community of the smart city. To get in touch with the CISC, do call or WhatsApp +603-8750 5170 or email [email protected]

Cyberview and MIDA Signed MoU for Collaboration to Attract Investments in High Value and Technology-based Services


Content Type:

Duration:

Extension of Project Implementation Period for the Manufacturing Sector


Content Type:

Duration:

Post Covid19 : New Procedures for Expatriate Applications and Support Letter MIDA


Content Type:

Duration:

– Expatriates with Approved Employment Pass (EP) and Professional Visit Pass (PVP) who are abroad – New Approved Employment Pass (EP) and Professional Visit Pass (PVP)

Entry Permission Application


Content Type:

Duration:

Kuala Lumpur, 3 December 2020 – The Malaysian Investment Development Authority (MIDA), Korean SMEs and Startups Agency (KOSME), together with the Korea Desk, a dedicated unit jointly set up by MIDA and KOSME successfully held a ‘Korea-Malaysia Technology Matching Session’ from 30 November 2020 to 2 December 2020. This virtual business matching session is the second session of its kind following its first edition in August this year.

To ensure a productive session, KOSME shortlisted Korean companies seeking Malaysian counterparts for technology transfer undertakings, partnerships, joint ventures and OEM producers. A total of 12 Korean companies from various industries and niches participate in this three-day event. These include electrical and electronics (E&E), green technology and medical industry players.

Simultaneously, Malaysian companies identified by MIDA for the session were seeking to acquire advanced Korean technology to improve their operational productivity and facilities; as well as potential OEM or joint-venture opportunities to expand their domestic and global clientele. More than 50 companies in relevant industries actively participated in the matching session.

Malaysia and Korea have a long-standing business partnership. As at June 2020, a total of 387 manufacturing projects with Korean participation, amounting to RM26.6 billion (USD8.0 billion) have been implemented in the country. These investments were primarily concentrated in industries such as chemical and chemical products, E&E, petroleum products (including petrochemicals), basic metal products and non-metallic mineral products; creating more than 53,032 jobs for the economy.

Additionally, in the first nine months of 2020, seven (7) manufacturing projects with Korean participation were approved, with investments worth RM1.4 billion (USD331.6 million). These projects are to create employment opportunities for 686 people.

To sustain this investment momentum, the Korea Desk is mandated to provide hands-on facilitation support to Korean investors in Malaysia and promote further business partnerships between the two countries. KOSME is a Korean governmental agency that supports Korean SMEs by providing financing schemes, comprehensive training programs, consultation services and globalisation programmes.

In recent decades, Malaysia, through MIDA, has been welcoming high technology, high value-added, knowledge-and capital-intensive foreign direct investments. The agency has been leveraging an ecosystem approach in targeting investors to complete the gaps in the value chain of industry in Malaysia. MIDA is optimistic that investors will find the country’s well-established local supporting industry network and business infrastructure ideal to set up their operations to do business in the region and beyond.

Furthermore, MIDA has been strategically targeting projects for technological advanced products and services by staying abreast with megatrend developments, including Industry 4.0. Given the rapid evolution of industries in line with technological developments within cyber-physical systems, it is crucial for Malaysia to embrace this trend to remain competitive in the global business landscape. Collaborations between Korean and Malaysian companies in high-value sectors such as ICT, data analytics, design and development will be instrumental in propelling Malaysian companies up within the global value chain; enabling the rise of more local champions.

Companies are urged to seize the opportunity to leverage on the various initiatives and facilities offered by the Government to move towards Industry 4.0. These include Domestic Investment Strategic Fund (DISF), Automation Capital Allowance (ACA) for companies undertaking automation, Industry4WRD Intervention Fund, as well as Smart Automation Grant (SAG). More information can be obtained on the MIDA website at www.mida.gov.my.

*****

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA 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, LinkedIn and Youtube channel.

About KOSME

The Korea SMEs and Startups Agency (KOSME) is a non-profit, government-funded organisation established to implement government policies and programmes for the sound growth and development of Korean SMEs. KOSME, through its 31 regional offices; annually provides various financing schemes of USD3.5 billion for SMEs to expand operations, develop new products and convert their business structures. It also offers comprehensive human resource development courses in five (5) training centres, and runs 19 youth startup academies to foster young entrepreneurs in Korea. For the globalisation of SMEs, KOSME conducts overseas marketing and global cooperation programs through its 24 overseas presence.

For more information, please contact:

Mr. Nazuki Abdullah 

Director, Domestic Investment and Supply Chain Coordination Division, MIDA 

Tel.: 03- 2267 3744| Email: [email protected]

Mr. Chon Yong Ho 

Korean Director of Korea Desk, MIDA 

Tel.: 03-2263 2500 | Email: [email protected] 

MIDA, KOSME & Korea Desk Join Hands to Promote More Business Partnerships between Malaysia and Korea


Content Type:

Duration:

Kuala Lumpur, 2 December 2020 – The Ministry of International Trade and Industry (MITI) today launched the Smart Automation Grant (SAG) aimed at encouraging the adoption of automation for industry players, particularly local manufacturers and service providers.

YB Dato’ Seri Mohamed Azmin Ali, Senior Minister and Minister of International Trade and Industry said, “The Government, through the Malaysian Investment Development Authority (MIDA) is committed in driving Malaysia’s industry and businesses towards automation and digitalisation. It goes beyond having the right solution providers and talents in place; it is also about ensuring that the need for accessible financial aid is met.

The Smart Automation Grant is timely to boost strategic domestic investments that will assist and incentivise the small and medium enterprises (SMEs) and mid-tier Companies (MTCs) to future-proof their operations, production and trade channels,” he added.

This SAG initiative is part of the RM100 million allocation within the National Economic Recovery Plan or PENJANA, which was announced in June 2020. This grant will be awarded on a matching basis or 50 per cent of total eligible expenditures, up to a maximum grant cap of RM1 million per company.

SMEs and MTCs that have been undertaking manufacturing or services activities in the past 12 months are eligible to be considered for SAG. To qualify for the incentive, the automation machine, equipment or software purchased must be used directly in the company’s value chain to improve their productivity and efficiency. Improvements will be assessed on a range of criteria such as reduction of unskilled workers, man-hours, defect rate as well as the increase in production volume. Interested stakeholders are able to submit their application for SAG to MIDA from 1 November 2020 to 31 December 2021.

“The Government is optimistic that this grant will see to a more robust uptake of automation and digitalisation efforts in the country to meet the technologically evolving global supply chain today. SAG will not only improve Malaysia’s industrial competitiveness and capabilities but also reduce our reliance on low-skilled foreign workers while creating new job opportunities in high value-added sectors,” said YB Dato’ Seri Mohamed Azmin Ali.

Furthermore, MIDA, in collaboration with selected panel banks, will be organising an Acceleration Programme for Smart Automation Grant to create awareness and provide financial guidance to companies on automation and digitalisation through a series of simulation training and evaluation sessions.

**** 

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA 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, Facebook, LinkedIn and YouTube channel.

For more information, please contact:

Ms. Masni Muhammad 

Director, Strategic Planning and Policy Advocacy (Manufacturing) Division, MIDA 

Email: [email protected] | DL: +603 2267 6786

Smart Automation Grant (SAG) to Enable Future-Proofing of Local Businesses


Content Type:

Duration:

Kuala Lumpur, 1 December 2020 – Malaysia recorded a total of RM109.8 billion worth of investments in the manufacturing, services and primary sectors for the first nine months of 2020. These investments involved 2,935 projects and will create 64,701 jobs opportunities in Malaysia.

Of the total investments approved, domestic direct investments (DDI) accounted for 61.2 per cent, or RM67.2 billion, while foreign direct investments (FDI) made up the rest of RM42.6 billion.

China (RM17.0 billion), Singapore (RM8.0 billion), the USA (RM2.8 billion), Switzerland (RM2.8 billion), and the Netherlands (RM2.4 billion) were the top five (5) sources of approved FDI for the manufacturing, services and primary sectors during the period.

For approved projects by state, the five major states namely Selangor, Sarawak, Sabah, W.P. Kuala Lumpur dan Pulau Pinang contributed RM76.8 billion (69.9%) to the total approved investments for January to September 2020.

The manufacturing sector attracted the largest portion of approved investments for this period, contributing more than half (59.5 per cent) or RM65.3 billion, followed by the services sector with investments of 39.0 per cent or RM42.8 billion, and the primary sector with approved investments of 1.5 per cent or RM1.7 billion.

Manufacturing Sector

In the first nine months of 2020, a total of 740 projects worth RM65.3 billion were approved compared with RM56.0 billion in 669 projects in the corresponding period of 2019, representing an increase of 16.6 per cent in capital investments. These projects will create 51,172 jobs opportunities in the economy.

The total investments approved in the manufacturing sector were mainly in the petroleum products including petrochemicals (RM15.0 billion), basic metal products (RM14.5 billion), electrical and electronics (RM7.7 billion), machinery and equipment (RM5.8 billion), chemicals and chemical products (RM4.5 billion), food manufacturing (RM3.0 billion), transport equipment (RM3.0 billion) and scientific and measuring equipment (RM2.1 billion). These industries make up 85 per cent of total approved investments for the sector.

Compared to the corresponding period last year, domestic direct investment (DDI) in the manufacturing sector saw a leap of 45.5 per cent to RM25.9 billion while the value of approved foreign direct investments (FDI) increased by 3.2 per cent to RM39.4 billion.

The states that recorded the highest total approved investments in the manufacturing sector for the period are Sarawak, Sabah, Pulau Pinang, Selangor and Johor. These states have collectively contributed RM51.3 billion (78.6%).

Meanwhile, the leading sources of FDI for the period of January to September 2020 were China, Singapore, Switzerland, the USA, the Netherlands, Thailand, Japan and Republic of Korea. These eight (8) countries jointly accounted for 91.4 per cent or RM36.0 billion of the total FDI approved in the manufacturing sector.

Service Sector

From January to September 2020, the services sectors recorded 2,180 approved projects with investments of RM42.8 billion. These approved services projects in the first nine months of 2020 are expected to create 13,390 jobs to the economy.

DDI led the total approved investments in the services sector, contributing RM40.6 billion (94.9%) where else FDI represented the remaining RM2.2 bilion.

Majority of the main services sub-sectors showed a significant decline in approved investments except for support services, MSC status projects and other services such as BioNexus status and software developments.

The top five (5) contributors of approved investments in the services sector were real estate (RM23.7 billion), utilities (RM7.2 billion), support services (RM4.0 billion), telecommunications (RM2.6 billion) and financial services (RM2.1 billion).

The support services industry under the purview of MIDA covered sub-sectors such as integrated logistics, research and development, green technology, integrated circuit design, oil and gas services and licensed warehouse.

In the first nine months of 2020, approved investments in the support services industry saw an increase of 17.9 per cent compared to the corresponding period in 2019. This is contributed by projects in green building, waste management, integrated logistics services and energy saving that recorded increases of more than 100 per cent.

Primary Sector

In January – September 2020, the primary sector attracted investments worth RM1.7 billion. This sector comprises three main sub-sectors namely mining; agriculture; and plantation and commodities will create 139 jobs in the economy.

FDI dominated the total approved investments in the sector, recording RM1.0 billion (58.8%) while DDI accounted for RM653.2 million or 41.2 per cent.

Conclusion

YB Dato’ Seri Mohamed Azmin Ali, Senior Minister and Minister of International Trade and Industry (MITI), commented, “While the COVID-19 pandemic is still a battle we are fighting to overcome with the rest of the world, the Government has never wavered in prioritising the needs of our people. We are striving to ensure the livelihood of our citizens and the sustainability of businesses, not only through this pandemic but for years ahead. Thus, the Budget 2021 cements the groundwork to accelerate investments in Malaysia to spur further economic recovery and create a multiplier effect on the economy.”

i) Among the initiatives within Budget 2021 directed to the business community include:

ii) A competitive RM1 billion special incentive package for high value-added technology projects including R&D investments in aerospace and electronic clusters;

iii) Income tax rate of 0 per cent up to 10 per cent for the first 10 years and 10 per cent for the subsequent period of 10 years to manufacturers of pharmaceutical products including vaccines;

iv) A 10 per cent income tax rate for a period of 5 years and renewable for another 5 years for Global Trading Centres (GTC);

v) An extension of the Principal Hub, Industrialised Building System (IBS) components manufacturing, and shipbuilding and ship repairing industry (SBSR) incentives’ application period; and

vi) Expansion of the scope of special tax rates to selected manufacturing companies which relocate their businesses into Malaysia or undertake new investments, to include selected high-technology services sectors.

“The Government, through MIDA, looks forward to leveraging these competitive incentives to scout and entice more investors, both local and foreign alike, to capitalise on the opportunities in Malaysia fully. We are confident that investors will derive value by taping on Malaysia’s well-established local supporting industry network and talented workforce to undertake high-tech products manufacturing and high value-added services. This is to cater to their clients in the region, in the present and the future,” added YB Dato’ Seri Mohamed Azmin Ali.

***** 

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA 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, Facebook, LinkedIn and YouTube channel.

For more information, please contact: 

Ms. Manjit Kaur 

Director, Corporate Communications Division, MIDA 

Email: [email protected] | DL: +603 2267 3509

Malaysia Records Total Approved Investments of RM109.8 Billion in the Economy, Creating 64,701 Job Opportunities for January – September 2020


Content Type:

Duration:

Kuala Lumpur, 30 November 2020 – The volatile global economy, afflicted by the COVID-19 pandemic, has impelled most countries to implement assertive strategies to remain sturdy in economic well-being. Malaysia, as an open trading nation is not spared from the impact of the COVID-19 outbreak, more so on industrial productivity, supply chains and growth plans of many businesses. Bank Negara Malaysia predicts the 2020 GDP to be in the range of -3.5% and -5.5%. However, with the anticipated improvement in global growth and trade, given the gradual normalisation in economic activities, Malaysia projects a rebound of over 6% in 2021 with resilient fundamentals and well-diversified economy.

As the country steers to weather the on-going pandemic while capturing technical bounces in the economic recovery, the Government has undertaken several proactive measures to enable high potential investors and business travellers, whose numbers are relatively not large, and existing investors to enter the country to secure investments and build investor confidence. Hence, to attract more investments into Malaysia and sustain its position as the preferred investment destination in the region, the Government has established a One Stop Centre (OSC) for Business Travellers on 2 October 2020 to ease the movement of business travellers by expediting the approval of their entry to do business in Malaysia.

MIDA manages the OSC for Business Travellers with support from the Immigration Department of Malaysia (IMI), Ministry of Health (MOH), Ministry of International Trade and Industry (MITI) and other relevant ministries and agencies to ensure the legitimacy and health status of business travellers before they enter into Malaysia. This Centre assumes a critical role in ensuring that Malaysia remains steady on the path of economic recovery and growth, by enabling business travellers’ movement to do their business/work in Malaysia.

The OSC Committee evaluates and approves two (2) types of business travellers, namely Long Term Business Travellers where their stay in the country is more than 14 days and Short Term Business Travellers for a stay of 14 days or less. The meeting is held daily on five (5) working days every week, while a decision for each applicant is made within three (3) working days upon receiving complete information.

As at 27 November 2020, the OSC Committee has received a total of 2,564 applications and 2,448 applications were recommended for approval. These Business Travellers include businessmen and technical experts providing technical advisory services and installation commissioning of the machinery and equipment.

MIDA is working closely with the Immigration Department of Malaysia and Talent Corporation Malaysia Berhad to enhance the MyEntry System to further facilitate the Entry Permission applications of Business Travellers. This includes the establishment of a Business Traveller Centre (BTC) at KLIA which will provide the services of Duty Officers/ Liaison Officers and a COVID-19 testing laboratory; and a dedicated website containing information and advisory services to facilitate the entry of business travellers into Malaysia. An announcement will be issued soon upon the completion of Business Travellers Centre.

Currently, MIDA is in consultation with Business Travellers from 136 potential multinational companies that will require the assistance of the OSC in the near future.

*****

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA 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, Facebook, LinkedIn and YouTube channel.

For more information, please contact:

Ms. Aizah Abdullah 

Director, Industry Talent Management and Expatriate Division 

Tel: 03-2267 3529 | E-mail: [email protected]

One Stop Centre for Business Travellers “Welcoming Investors, Keeping You Safe”


Content Type:

Duration:

wpChatIcon
X