Malaysia secured RM378.5 billion in approved investments in 2024 — the highest in the nation’s history — marking a 14.9% year-on-year increase from the previous record of RM329.5 billion in 2023, according to the latest data released by the Malaysian Investment Development Authority (Mida).

The services sector led the surge with RM252.7 billion in approved investments (66.8% of the total), a 50.1% jump from the previous year. The manufacturing sector followed with RM120.5 billion (31.8%), while the primary sector contributed RM5.3 billion (1.4%).

Domestic investments dominated with RM208.1 billion (55%), while foreign investments made up RM170.4 billion (45%). The US, Germany, China, Singapore, and Hong Kong emerged as the top five foreign investors, collectively contributing RM128.9 billion.

Selangor attracted the highest approved investments at RM101.1 billion, followed by Kuala Lumpur (RM91.5 billion) and Johor (RM48.5 billion). These three states and territories, alongside Kedah and Penang, accounted for 84.3% of the total investments.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said Mida has set a 5% growth target for approved investments in 2025, in line with the country’s projected gross domestic product (GDP) growth. The official forecast for GDP growth in 2025 was set at a range of 4.5% to 5.5%.

“This year is going to be a challenging year because there are a lot of uncertainties with respect to the geopolitical landscape, and as such, we are monitoring and addressing some of the investors’ concerns,” he told reporters at a press conference organised by Mida on Tuesday.

Despite global uncertainties, Zafrul remains optimistic that strong domestic investments and sustained interest in high-growth sectors like electrical and electronics and the digital economy will continue driving the investment momentum.

As of Jan 31, 2025, Mida is overseeing a robust pipeline of 1,049 projects with proposed investments totalling RM58.8 billion. Additionally, RM63.5 billion in high-potential investment leads are currently being actively negotiated by Mida.

New data centre taskforce, incentive framework to support investment environment

At the press conference, Zafrul also announced the formation of a data centre task force to address concerns and chart the future of data centre investments in Malaysia.

Co-chaired by Zafrul and Digital Minister Gobind Singh Deo, the task force was approved by the National Investment Council and is set to meet next week to discuss industry projections and mitigation strategies.

“After the data centre task force meeting, we will come back and report the decisions,” Zafrul said.

To further strengthen the investment ecosystem, Zafrul added that the government is rolling out a new incentive framework in collaboration with the Ministry of Finance.

The framework, he said, will emphasise generating positive spillover effects for Malaysian companies and local job creation, ensuring that investments in key sectors translate to broader economic benefits.

Source: The Edge Malaysia

MIDA: Malaysia secures record high RM378.5b approved investments in 2024

Malaysia has reached a historic milestone with RM378.5 billion in approved investments for 2024, marking a 14.9 per cent year-on-year (yoy) growth. 

Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the amount marks the highest in the nation’s history, despite global economic challenges. 

These investments are expected to create over 207,000 better paying jobs for Malaysians and provide significant opportunities for local businesses, particularly small and medium enterprises (SMEs).

“Each ringgit invested in innovative, sustainable and high-value industries creates a multiplier effect that strengthens our economy. 

“Miti and Mida remain committed to facilitating such investments, while also taking steps to enhance the resilience of our supply chains and industrial ecosystem,” he said at Mida Annual Media Conference 2025 here, today. 

According to the Malaysian Investment Development Authority (Mida), this record-breaking figure spans 6,700 projects across key economic sectors.

Mida said Malaysia continues to attract significant investments, with domestic investments accounting for RM208.1 billion (55 per cent) and foreign investments contributing RM170.4 billion (45 per cent).

Foreign investments remain robust, with the United States leading the way with RM32.8 billion, followed by Germany (RM32.2 billion), China (RM28.2 billion), Singapore (RM27.3 billion) and Hong Kong SAR (RM7.4 billion).

Mida said Selangor emerged as the top investment destination with RM101.1 billion in approved investments, followed by Kuala Lumpur (RM91.5 billion), Johor (RM48.5 billion), Kedah (RM45.8 billion), and Penang (RM32 billion).

“These five states collectively secured RM318.9 billion, making up 84.3 per cent of total investments,” it said.

On the services sector, Mida said it remained the main driver of growth, attracting RM252.7 billion in approved investments (66.8 per cent of total), leading to the creation of 119,083 new jobs. 

In addition, it said the manufacturing sector secured RM120.5 billion (31.8 per cent of total), with 1,108 projects generating nearly 88,000 jobs, 82.2 per cent of which are designated for Malaysians.

“Meanwhile, the primary sector registered approved investments of RM5.3 billion, constituting 1.4 per cent of the total approvals. 

“Driven by 67 projects, it anticipates creating 463 new jobs, with a focus on mining (RM4.5 billion), agriculture (RM766.8 million) and plantation and commodities (RM71.6 million),” it added.

Source: NST

Historic high: Malaysia’s approved investments top RM378.5bil

Malaysia registered a record RM378.5bil in approved investments in 2024, a 14.9% increase from RM329.5bil in 2023, underpinned by rapid growth in investments in the services sector.

The Malaysian Investment Development Authority (Mida) said that of the total approved investments, domestic investment accounted for 55%, or RM208.1bil, of the approved investments, with the remaining 45%, or RM170.4bil, contributed by foreign investments.

The services sector continues to lead the country’s economic expansion, with RM252.7bil in approved investments secured in 2024.

This figure, spearheaded by the information and communications sub-sector, is double the RM168.4bil investment value registered for the sector in 2023, and accounts for 66.8% of the total approvals in 2024.

“A significant portion of the services sector’s investment comes from domestic sources, amounting to RM171.1bil or 67.9%, with foreign investment contributing the remaining 32.1% or RM81bil.

“This mix underscores the sector’s appeal to both local and international investors,” said Mida.

Meanwhile, the manufacturing sector secured RM120.5bil in approved investments, representing 31.8% of the total.

The electrical and electronics (E&E) industry drove the investment growth, securing 46.3% of the sector’s total investments amid the growing demand fuelled by Industry 4.0.

Foreign investments were the dominant contributor, totaling RM88.9bil (73.8%), while domestic investments remained substantial at RM31.6bil (26.2%), said Mida.

Mida reported approved investments of RM5.3bil for the primary sector, or 1.4% of the total approvals.

Mida CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the agency’s focus remains on attracting high-quality, strategic invstments that align with national priorities.

“Through proactive investor engagement, end-to-end support, and fostering strong public-private partnerships, Mida and The Ministry of International Trade and Investment continues to drive industrial transformation, accelerate the adoption of advanced technologies, and champion sustainable practices.

“To remain competitive and resilient, Malaysia must transform the key sectors — particularly manufacturing and services—by moving up the value chain through a whole-of-government approach.”

Source: The Star

Malaysia charts RM378.5bil record in approved investments in 2024

Perlis is actively developing the Perlis Inland Port (PIP) and other maritime facilities to attract investors to the state, while aiming to benefit from the economic spillover of strong investment inflows into Penang’s electrical and electronics (E&E) sector.

The Malaysian Investment Development Authority’s (Mida) chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the agency consistently engages with investors to promote Perlis.

“We are attracting established investors in Malaysia to expand through Perlis. 

“They can leverage its logistical advantages to export across Asia, with the existing land transport network, which can reach China and Central European regions such as Kazakhstan, and Türkiye,” he said at a press conference on Thursday, held in conjunction with the Mida Invest Series — Perlis: Uncovering The Hidden Gem.

Sikh Shamsul also witnessed the exchange of a memorandum of understanding (MOU) between Mutiara Perlis Sdn Bhd and Bina Darulaman Bhd (KL:BDB), as well as the exchange of a memorandum of collaboration (MOC) between Mutiara Perlis Sdn Bhd and MAERSK Logistics and Services Malaysia Sdn Bhd.

Meanwhile, Perlis Menteri Besar Mohd Shukri Ramli said the positive economic spillover from the MOU and the MOC exchanges during this year’s Mida Invest Perlis Series is expected to generate RM800 million in economic gains for Perlis.

He added that Perlis is poised for significant industrial expansion, supported by key initiatives such as the Chuping Valley Industrial Area (CVIA) and the PIP, in Chuping.

“We expect the presence of around 20 to 30 investors to complete the overall development of CVIA, particularly in the solar energy development sector, data centres and agriculture,” he said.

Deputy Minister of Investment, Trade and Industry Liew Chin Tong highlighted Perlis’ potential to drive economic growth, as Malaysia gears towards a second economic takeoff.

“Perlis stands a great chance of benefitting from the economic spillover from neighbouring Kedah and Penang. I see positive developments in these projects, and we hope they will become new engines of growth for Perlis once completed.

“As we move forward, guided by the New Industrial Master Plan 2030, National Energy Transition Roadmap and the Green Investment Strategy, it is crucial for us to build on this momentum, and leverage Perlis’ strengths to drive growth and development across Malaysia,” he said.

The MOU signed by Mutiara Perlis, the owner-developer of Perlis Sanglang Port (PSP), together with Bina Darulaman, marks a significant step towards a strategic partnership for the development of various maritime facilities in Sanglang.

It focuses on constructing three key facilities at PSP, namely the Langkawi Supply Base for roll-on roll-off vessels, the Langkasuka Supply Base for oil and gas field services in the region, as well as the Bulk Cargo Terminal for dry and liquid goods.

These facilities will enhance regional trade by improving logistics efficiency, while supporting the growth of industrial zones in Kedah and Perlis, including CVIA, Kedah Rubber City, and Kedah Science and Technology Park.

Meanwhile, the MOC between Mutiara Perlis and MAERSK aims to enhance logistics efficiency, infrastructure development, and international trade connectivity, reinforcing Perlis’ position as a logistics hub in the region.

Source: Bernama

Perlis eyes growth via inland port, riding Penang’s E&E wave — MIDA CEO

The opening of the Invest Malaysia Facilitation Centre Johor (IMFC-J) represents a significant milestone in streamlining investment processes for the Johor-Singapore Special Economic Zone (JS-SEZ).

In a joint statement today, the Malaysian Investment Development Authority (MIDA), Iskandar Regional Development Authority (IRDA) and Invest Johor said the pioneering centre offers investors a comprehensive suite of end-to-end facilitation services designed to simplify and accelerate investment procedures in the region.

The IMFC-J office, located at Menara Delima Satu in Forest City, was inaugurated by the Regent of Johor Tunku Mahkota Ismail yesterday.

“The centre is positioned to attract and facilitate high-impact investments across diverse sectors, from advanced manufacturing to digital technology and sustainable development,” they said.

IMFC-J is jointly led and operated by representatives from MIDA, IRDA and Invest Johor to ensure that investors’ investment needs are taken care of via one platform, reducing bureaucracy without having to deal with various agencies and departments at different locations.

Meanwhile, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the launch of IMFC-J City marked a significant step towards seamless investment facilitation in the JS-SEZ.

He noted that the IMFC and the Project Implementation and Facilitation Office (TRACK) by MIDA have successfully streamlined project implementation.

Over 86.5 per cent of projects approved in 2023 are already operational, while more than 63 per cent of those approved in January-September 2024 have been implemented, he said.

“In short, we are creating an environment where every investment that comes to Malaysia is set up for success,” he said.

MIDA chief executive officer (CEO) Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid noted that as Malaysia’s principal investment promotion agency, MIDA is committed to prioritising the ease of doing business for investors.

“Through close collaboration with federal and Johor state agencies, we aim to streamline processes, enhance support services, and create an environment that fosters growth and innovation.

“Our collective goal is to firmly position JS-SEZ as one of the premier investment destinations in the region, attracting high-value investments and driving sustainable economic development,” he said.

Meanwhile, Invest Johor CEO Natazha Harris said that as a key partner in IMFC-J, the Johor state investment agency would ensure investors a seamless experience from initial inquiry to full operations.

He said the agency would leverage its deep understanding of Johor’s economy, policies and ecosystem to provide strategic insights, tailored solutions and on-the-ground support to accelerate investors’ journeys.

“We are committed to making Johor the premier investment destination, and through IMFC-J, we are strengthening Johor’s position as a key economic gateway within the JS-SEZ.

“We look forward to welcoming investors and working together to shape Johor’s future as a dynamic and sustainable business hub,” he added. 

Source: Bernama

IMFC-J to drive realisation of investments into JS-SEZ – MIDA

Despite facing geopolitical challenges, Malaysia can still attract more foreign investments, especially from companies in countries affected by US trade policies, according to the Malaysia Investment Development Authority (MIDA).

Deputy chief executive officer (investment development) Zalina Zainol said the risk of negative impact on Malaysia’s export performance, particularly semiconductors, is minimal because the tariff hikes by the US do not directly involve Malaysia. However, she warned that additional tariffs on all global imports could lead to increased prices and production costs for Malaysia’s exports to the United States.

“This development could disrupt the supply chain and eventually affect the competitiveness of certain products or industries,” she said during a discussion session titled “Trump and the World: Implications for Malaysia,” at Universiti Kebangsaan Malaysia (UKM) here today.

Zalina noted that during a recent parliamentary session, the Minister of Investment, Trade, and Industry, Tengku Datuk Seri Zafrul Abdul Aziz, emphasised that the government is proactively working to maintain and strengthen trade and investment relations with the US. “This effort is crucial to ensure that Malaysia is not subjected to tariff increases, as seen with China, Canada, and Mexico. The tariffs imposed on these countries stem from issues beyond trade and investment,” she said.

She added that Malaysia’s open economy exposes the country to global uncertainties arising from geopolitical tensions and changes in US policies.

The United States has been Malaysia’s third largest trading partner since 2015, with 13.2 per cent of Malaysia’s total exports last year going there.

Among Malaysia’s key exports to the US are electrical and electronics (E&E) products, machinery and equipment, and rubber products. In 2024, E&E products accounted for 40 per cent of Malaysia’s total exports, with 64 per cent being semiconductors.

Zalina highlighted that the US is among the top three destinations for Malaysia’s semiconductor exports, alongside China and Singapore. “This highlights the importance of the bilateral relationship between Malaysia and the US for the country’s economic growth,” she said.

Source: Bernama

Malaysia can increase foreign investor appeal despite US policy challenge: MIDA

The Malaysian Investment Development Authority (Mida) and BEYOND4 Sdn Bhd have inked a Memorandum of Understanding (MOU) to support high-growth small and medium enterprises (SMEs).

In a statement on Wednesday, Mida said the partnership also aims to strengthen domestic talent development across Malaysia, in alignment with the country’s aspiration to become a hub for digital innovation and entrepreneurial growth.

This strategic partnership will focus on empowering local companies to transition to tech-driven models, fostering business expansion and developing a skilled workforce for the future economy.

Mida chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the partnership is a direct response to the need for critical support structures that enable start-ups to grow into micro, small, and medium enterprises (MSMEs).

It also aims to bridge the technology gaps for SMEs, allowing them to expand beyond Malaysia and thrive in an increasingly competitive global market, he highlighted.

“MIDA has taken a proactive role in supporting SMEs growth and facilitating access to funding, technology, and research capability through our Domestic Investment Coordination Platform, while also strengthening industry linkages to help them scale up and stay competitive,” Sikh Shamsul said.

The agency noted that the partnership with BEYOND4, a multi-tier ecosystem accelerator, is a key component of its broader strategy to empower local companies to move up the value chain in line with the New Industrial Master Plan (NIMP) 2030.

It stated that Mida and BEYOND4 will leverage resources and expertise to provide comprehensive support across several key areas, including access to financial assistance and incentives, facilitated partnerships and collaborations with multinational corporations (MNCs) and research institutions.

Additionally, the collaboration will focus on capacity building, skills development, infrastructure to enhance digital connectivity, and ongoing policy advocacy and regulatory streamlining.

“This partnership will also help improve access to international markets, creating new opportunities for businesses and entrepreneurs alike,” said Mida.

Most importantly, the initiative will lead to the creation of high-value jobs for locals, empowering individuals and communities while reinforcing substantial economic impact and resilience through increased foreign and domestic investments, it added.

Source: Bernama

MIDA, BEYOND4 forge partnership to support high-growth SMEs

Malaysia’s supply chain and logistics industry received a boost today as over 150 industry leaders convened for the “Future of Supply Chains: Optimising, Planning, and Automating for Success” forum, co-organised by the Malaysian Investment Development Authority (MIDA) and Ally Logistic Property (ALP).

The forum focused on digitalisation, automation, and sustainable practices in logistics, aiming to strengthen Malaysia’s position as a logistics hub amid global supply chain shifts.

In a statement joint statement with ALP today, MIDA deputy chief executive officer (investment development) Zalina Zainol said the government is committed to supporting the sector’s transformation through targeted incentives and initiatives.

“The country is well positioned to seize the opportunities created by global shifts in supply chains, but to fully capitalise on these opportunities, we must ensure that our infrastructure and logistics services are equipped to meet evolving demands.

“The government is assuming a proactive role to encourage innovation through the introduction of the income tax exemption for Smart Logistics Complex companies in Budget 2025, promoting the adoption of Industry 4.0 technologies in warehousing and logistics to drive smarter and more efficient operations,” she said.

Zalina added that at MIDA, the focus is on promoting innovation and sustainability, with initiatives like the Domestic Investment Accelerator Fund (DIAF) playing a key role in helping businesses, especially small and medium enterprises (SMEs), adopt smarter and more sustainable practices.

“We are also committed to supporting the digital transformation of Malaysian logistics companies, especially in areas like e-commerce and e-fulfilment.

“As of September 2024, MIDA has approved 111 Integrated Logistics Services (ILS) projects worth RM12.85 billion and granted International Integrated Logistics Services (IILS) status to 301 companies,” she said.

Meanwhile, the statement said the forum featured two key sessions, the first focusing on supply chain optimisation, with SPX Express and Ninja Van sharing strategies for improving workflows, inventory management, and last-mile delivery through digital transformation.

The second addresses automation, with insights from 7-Eleven Malaysia and Quicktron Singapore on robotics and software in logistics. “Participants gained invaluable hands-on exposure to cutting-edge technologies and witnessed live demonstrations throughout the forum.

“The event served as a powerful platform for strategic partnership building during targeted networking sessions and offered comprehensive insights into government initiatives supporting automation and digitalisation,” the statement added.

Source: Bernama

Over 150 Industry Leaders Attend MIDA-ALP Forum On Future Of Supply Chains

Malaysian Investment Development Authority (MIDA) has co-organised a forum on supply chain with Ally Logistic Property (ALP) to explore innovative solutions and opportunities for reshaping Malaysia’s supply chain landscape.

The “Future of Supply Chains: Optimising, Planning and Automating for Success” forum saw participation from 150 industry leaders and featured two high-impact sessions addressing the industry’s most critical challenges and opportunities

MIDA deputy chief executive officer (investment development) Zalina Zainol said Malaysia has always been recognised as a reliable and well-connected logistics hub.  

The country, she added, is well positioned to seize the opportunities created by global shifts in supply chains.

However, to fully capitalise on these opportunities, it must ensure that its infrastructure and logistics services are equipped to meet evolving demands.

“The government is assuming a proactive role to encourage innovation through the introduction of the income tax exemption for Smart Logistics Complex companies in Budget 2025.

“This initiative promotes the adoption of the Industry 4.0 technologies in warehousing and logistics, driving smarter and more efficient operations,” she said.

As of September 2024, MIDA approved 111 integrated logistics projects projects worth RM12.85 billion and granted International Integrated Logistics Services status to 301 companies.

ALP Omega 1 Bukit Raja is backed by the Employees Provident Fund which holds a 70 per cent stake in the project.  

“The integration of smart technologies into logistics is not just the way forward— it is a game-changer that will shape the future of our industry,” said ALP chief executive officer Charlie Chang.

Source: NST

MIDA, EPF-linked ALP hold forum on reshaping Malaysia’s supply chain landscape

A local vendor development programme jointly curated by the Malaysian Investment Development Authority (Mida) and Infineon Technologies (Kulim) Sdn Bhd will benefit 139 local companies.

The programme, which has attracted over 190 participants, is a new initiative aimed at enhancing the capabilities of local companies to support the growing semiconductor industry in Malaysia.

Mida chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said that developing a resilient and competitive semiconductor ecosystem requires both technological advancement and human capital development

“At Mida, we are providing local suppliers with structured platforms to enhance their technological capabilities while ensuring their workforce is equipped with the skills needed for next-generation semiconductor manufacturing,” he said in a joint statement on Wednesday.

He added that the Mida-Infineon partnership has fostered high-value collaborations that drive industrial transformation and competitiveness.

Infineon senior vice president and managing director Ng Kok Tiong emphasised Infineon Kulim’s commitment to supporting local vendors in understanding the complex requirements of high-technology wafer fabrication manufacturing.

“By creating a pool of vendors who can provide high-value and reliable services, we can directly support our growth in Malaysia.

“Sustainable vendor development is crucial in today’s dynamic and challenging business environment,” he said.

Meanwhile, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said that Mida and Infineon’s public-private programme enables Malaysian companies to harness advanced manufacturing technologies, including artificial intelligence (AI) and smart connectivity solutions.

“This is exactly the kind of initiative envisaged by the New Industrial Master Plan 2030 and National Semiconductor Strategy towards strengthening our industrial ecosystem.

“As we empower local vendors to integrate cutting-edge technologies and drive efficiency within global companies’ supply chains, Malaysia will also be in a better position to benefit from the AI revolution while attracting further investments into the country,” he added.

In August 2024, Infineon inaugurated the first phase of its highly efficient 200-millimeter silicon carbide (SiC) power fabrication in Kulim.

This investment has significantly strengthened the local semiconductor ecosystem and solidified Infineon’s role as a reliable partner within the growing semiconductor hub in Malaysia.

Source: Bernama

MIDA-Infineon local vendor development programme to benefit 139 Malaysian companies

Malaysia’s investment landscape in 2024 has once again showcased its resilience and adaptability, with the Malaysian Investment Development Authority (Mida) at the forefront of driving economic growth through strategic investments, human capital development, digital and green economy initiatives.

Mida’s role in catalysing Malaysia’s economic development is underscored by its success in attracting investments worth RM254.7 billion in the first nine months of 2024, a 10.7% year-on-year (y-o-y) increase. These investments span the services, manufacturing, and primary sectors, resulting in 4,753 new projects and generating 159,347 jobs, reflecting y-o-y growth of 75.9% in job creation.

Domestic investments contributed RM148 billion (58.1%), reflecting strong confidence in the government’s clear policies and the resilience of local businesses. Meanwhile, foreign investments accounted for RM106.7 billion (41.9%), with key contributors including Germany, China and the United States.

Mida CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said: “These investment figures reflect Malaysia’s strengthening position as a premier investment destination. Our success in attracting both domestic and foreign investments underscores the effectiveness of our strategic initiatives in fostering an innovation-driven economy,” he told Bernama.

In alignment with Malaysia’s National Investment Aspirations, Mida has been at the forefront of driving the growth of the digital economy.

From January to September 2024, the Digital Investment Office, a strategic collaborative platform between Mida and Malaysia Digital Economy Corporation (MDEC), approved RM64.8 billion worth of digital investments, focusing on advancing technology adoption such as artificial intelligence (AI), data analytics, and automation to propel Malaysia’s digital transformation.

“Malaysia is well-positioned to leverage 5G Advanced, AI, and cloud computing to accelerate economic growth.

These advancements, underpinned by the MyDIGITAL Blueprint and National 4IR Policy, are fostering a vibrant digital ecosystem and establishing Malaysia as a regional innovation hub,” noted Sikh Shamsul.

One of the standout sectors in 2024 has been the rapid growth of data centres, which attracted US$10.7 billion (RM46.9 billion) in investment commitments from the major data centre and cloud players.

These facilities are indispensable pillars of modern infrastructure, enabling seamless interconnectivity across industries and regions.

Malaysia’s robust infrastructure, competitive energy costs, sustainability initiatives, rapid digitalisation adoption and strategic location have cemented its position as a regional hub for global technology giants and cloud service providers.

The growth of data centres and cloud activities not only drives a more digitally inclusive society, ensuring every user can benefit from the digital economy, but also develops the local supply chains, increased demand for renewable energy and technology solutions as well as upskilling of talent to meet industry needs.

Key projects include investments by Google, Oracle and Microsoft creating thousands of high-value direct and indirect jobs, fostering knowledge transfer and promoting technological innovation.

“Malaysia Digital Economy Corporation is committed to streamlining the development process for data centres and proactively addressing challenges to ensure Malaysia remains attractive to investors. A key initiative in this effort is the Data Centre Investment Coordination Task Force, which assumes a pivotal role in facilitating and expediting data centre-related matters,” the Mida CEO said

Sikh Shamsul also stated that the Malaysian government’s guidelines for the sustainable development of data centres provide a comprehensive framework to ensure these facilities operate efficiently, sustainably, and in an environmentally friendly manner.

“This initiative aligns Malaysia’s ambitions with its long-term goal of achieving net-zero emissions by 2050,” he added.

“To drive progress across all sectors, we are focused on developing a highly skilled and adaptable workforce. Our partnerships with the Ministry of Higher Education and the Malaysian Technical Universities Network are essential to equipping Malaysians with the skills needed for the jobs of the future,” said Sikh Shamsul.

Mida is actively working to diversify Malaysia’s economic base by focusing on new growth areas such as renewable energy, e-mobility, biofuels, and rare-earth elements. These efforts align with Malaysia’s strategic plans to achieve net-zero greenhouse gas emissions by 2050 and foster a green economy.

Malaysia has set ambitious targets to increase the share of renewable energy in its power mix, aiming for 70% by 2050 as part of its commitment to achieving net-zero emissions.

Mida’s initiatives are integral to this transition, positioning Malaysia as a prime green investment hub by 2030, aligned with the Green Investment Strategy target.

Additionally, the government’s National Energy Transition Roadmap outlines key projects and initiatives to support this energy transition.

“We are not just building a resilient economy for today, but a thriving and inclusive one for generations to come. Our commitment to attracting investments in the new growth areas, coupled with our unwavering focus on human capital development, will ensure Malaysia remains a competitive force in the global landscape,” Sikh Shamsul said.

Source: The Sun

MIDA catalyses Malaysia’s economic resilience, future growth in dynamic global landscape

The Malaysian Investment Development Authority (MIDA) recently hosted a gathering of key players in the country’s investment ecosystem. 

The event showcased MIDA’s transformation into a proactive investment facilitator, positioning itself as a strategic partner for investors navigating Malaysia’s diverse economy. 

Participants explored transformative investment opportunities, sustainable development strategies, and innovative approaches to driving economic growth. 

This gathering also marked MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid’s first major convening since his April appointment.

“Malaysia’s success is a team effort. It is about partnerships, creating jobs, and building a legacy of growth that benefits everyone—Malaysians and investors. MIDA is committed to supporting investors every step of the way, acting as their biggest supporter, troubleshooter, and sounding board,” he said in a statement.

The event also highlighted impressive figures reflecting Malaysia’s strengthening economic momentum.

Investment approvals have reached RM254.7 billion in the first nine months of 2024, representing a strong 10.7 per cent year-on-year growth. 

This surge in investment is expected to generate over 159,000 high-value job opportunities across multiple sectors, providing a significant boost to the country’s employment landscape.

Source: NST

MIDA hosts investor gathering to strengthen the economy, create more jobs

Malaysian Investment Development Authority (Mida) has hosted a landmark gathering of the nation’s most influential investment ecosystem partners, highlighting its commitment to support investors in a stronger and more unified investment landscape.

Chief executive officer (CEO) Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said Mida is cultivating an ecosystem where high-impact and future-ready investments can thrive.

“It’s about partnerships, creating jobs and building a legacy of growth that benefits everyone — Malaysians and investors.

“Mida is committed to supporting investors every step of the way, acting as their biggest supporter, trouble-shooter and sounding board,” he said in a statement on Wednesday.

The event marked the CEO’s first major convening since his April appointment, bringing together an elite coalition of government agencies, state bodies, economic corridors, diplomatic missions, financial institutions, strategic partners, and consulting powerhouses.

It showcased Mida’s evolution into a dynamic investment facilitator, positioning itself as a strategic ally for investors navigating Malaysia’s diverse economic landscape.

Distinguished attendees engaged in discussions about transformative investment opportunities, sustainable development initiatives, and innovative approaches to economic growth.

During the event, Mida also revealed that investment approvals have soared to RM254.7 billion in the first nine months of 2024, marking a robust 10.7% year-on-year increase.

This surge in investment is projected to create more than 159,000 high-value job opportunities across various sectors, significantly boosting the nation’s employment landscape.

Looking ahead, Mida unveiled its strategic focus on attracting investments that align with Malaysia’s New Industrial Master Plan (NIMP) 2030 and sustainable development goals.

Under this transformative blueprint, Mida will prioritise investments in advanced technology sectors, digital transformation, and sustainable industries.

The authority reaffirmed its commitment to facilitating high-impact investments that create substantial economic multiplier effects, drive innovation, high paying jobs for locals, and advance technological capabilities across local supply chains.

Source: Bernama

MIDA’s commitment to investors — A stronger, more unified investment landscape

The Malaysian Investment Development Authority (Mida) yesterday marked a significant milestone in Malaysia’s automotive industry transformation by signing a Memorandum of Understanding (MoU) with DRB- HICOM Berhad and Zhejiang Geely Holding Group Co. Ltd.

The partnership aims to develop the Automotive Hi-Tech Valley (AHTV) in Tanjong Malim, Perak, advancing Malaysia’s position as Asean’s hub for Next Generation Vehicles (NxGV) and Energy Efficient Vehicles (EEV).

In the presence of the Prime Minister, Datuk Seri Anwar Ibrahim, the ceremonial exchange was held at the Malaysia International Trade and Exhibition Centre (Mitec), following the official signing at the Ministry of Investment, Trade, and Industry (Miti).

The agreement was formalised by Mida chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, DRB-HICOM Group managing director Tan Sri Syed Faisal Albar, and Geely Auto CEO Jerry Gan Jiayue.

Witnessing the occasion, Tengku Datuk Seri Utama Zafrul Aziz, Minister of Investment, Trade, and Industry, remarked on the national significance of this collaboration: “The Mida-DRB-HICOM and Geely MoU fulfils the objectives of both our National Automotive Policy (NAP) and New Industrial Master Plan 2030. This AHTV development further positions Malaysia as an automotive hub in Asean, while also catalysing Asean’s electric vehicle revolution, particularly in high-tech and energy-efficient mobility solutions.

“This partnership reflects Malaysia’s readiness to not only tech up, but also lead the region’s transition to sustainable mobility, while equipping our workforce with the right skills to elevate Malaysia’s overall productivity.”

The partnership with Mida emphasises strategic investments and the establishment of a comprehensive ecosystem to position AHTV as a hub of automotive innovation in Asean. The key focus areas include advancing industry 4.0 and automotive transformation, building a sustainable and inclusive ecosystem, and facilitating policy and stakeholder engagement.

Source: Bernama

MIDA inks game-changing auto industry MoU with DRB-Hicom, Geely

DRB-Hicom Bhd said has inked memoranda of understanding (MOU) with two government bodies, namely with Malaysian Investment Development Authority (Mida) and Malaysia Automotive, Robotics and IoT Institute (MARii) to promote the enhancement and transformation of Malaysia’s automotive industry in the Automotive Hi-Tech Valley (AHTV) project in Tanjung Malim, Perak.

The agreements signed together with its joint-venture (JV) partner, China’s auto giant Zhejiang Geely Holding Group Co Ltd, were aimed at transforming AHTV into a global automotive hub, focusing on the production of next generation vehicles (NxGV) and high-tech automotive components, according to DRB-Hicom in a statement.

Under the agreement with Mida, which is effective for two years, the key collaboration was aimed at hosting global automotive supply chain players and establishing a complete ecosystem in Tanjung Malim, partly by upgrading the capability of local suppliers to participate in the localisation of key components.

As for the collaboration with MARii, DRB-Hicom said the parties intend to build shared research and development (R&D) and testing facilities focusing on vehicle R&D, manufacturing, supply chain and NxGV testing capabilities that will be recognised across Asean. 

This includes the establishment of the National Testing and Homologation Centre at AHTV, which will be designated as the country’s testing and certification centre for autonomous driving and EEV (energy efficient vehicle) testing.

In addition, the parties agree to develop local design capabilities and expertise in critical components such as electric motors, battery management system, and power distribution units with assistance from Geely Holding.

The three-year MOU with MARii also involves a talent training programme in collaboration with institutions from both China and Malaysia.

This includes the establishment of national standards for Automotive TVET (technical and vocational education and training) and SKM (Sijil Kemahiran Malaysia) certification, deploying an automotive apprenticeship programme, creating modules for education levels from high schools to universities; and conduct certification programmes for digitalisation and Industry 4.0 (smart manufacturing) proficiency in the manufacturing and supply chains.

The parties also aim to create communication and discussion with related stakeholders on investment, trade and industrial policy, and targets to transform AHTV into a smart manufacturing and export base for a global supply chain system of complete vehicles and parts.

At Monday’s noon closing, shares of DRB-Hicom were up one sen or 1% at RM1.01, giving it a market capitalisation of RM1.95 billion. Year-to-date, the stock has fallen 27.3%.

Source: The Edge Malaysia

DRB-Hicom, Geely ink MOUs with MIDA, MARii to spearhead next-gen vehicle production in Tanjung Malim

According to the Malaysian Investment and Development Authority (MIDA), 11 companies have expressed interested in setting up operations in Forest City’s Special Financial Zone (SFZ) as of November. Of which, eight have expressed their interest to set up family offices — four of whom hail from Malaysia, while the others are from Singapore, Indonesia and Taiwan, says Lee Ting Han, Johor state EXCO member for investment, trade, consumer affairs & human resources at a media doorstop on Dec 11.

Under the newly announced SFZ, several incentives have been announced. These include a 0% corporate tax rate for family offices, a 0% to 5% corporate tax rate and a 15% flat income tax rate for knowledge workers. Lee says that as at December, the Malaysian ministry of finance is working on making the incentive packages legally binding, which is scheduled to be in place by 1Q2025.

Forest City isn’t the only area that is attracting investments. In July, The Edge Singapore reported that data centres with capacity of 1GW are being built in Johor. DC Byte reports that capacity is now at 1.5GW.

Bernama says 10 data centres had begun operations as of October this year, while seven were in the process of development in Johor.

Gregory Seow, Singapore head of global banking, and global head of financial institutions group, group global banking, Maybank, says: “We’ve spoken to many clients and they have discussed some pain points.”

Infrastructure, security, ease of clearing customers, harmony of both currencies ease of payment and free movement of capital were some of the pain points discussed by Seow with his clients. “Forest City is supposed to be the administrative headquarters, and the authorities are proposing a financial hub. But connectivity is required,” Seow observes. Some projects require just Johor state’s approval, some may need federal approval. “That complicates the issue. I hope they have navigated those issues back in April. Prime Minister Anwar also demonstrated his support. Banks like ourselves want to be the go-to bank,” Seow says.

One of the projects that requires federal approval is Johor’s Autonomous Rapid Transit (ATS) system which is required to link commuters from the Johor-Singapore Rapid Transit System (RTS) that is operational from end-2026.

“More importantly, our Singapore-based clients have signalled interest. Last month, I had a chairman-level lunch with a very established conglomerate in Hong Kong. They signalled their interest in obtaining a piece of land [in Johor] and getting contracts. The Chinese companies are debating whether they should go to the Eastern Economic Corridor (EEC) in Thailand, or here,” Seow says. “Hopefully we are not let down by the political agenda.”

Source: The Edge CEO Morning Brief

MIDA: Eight Companies Interested to Set Up Family Offices in Forest City

The Ministry of Investment, Trade and Industry (Miti) and the Malaysian Investment Development Authority (Mida) are collaborating with Sirim Bhd to set up a star rating system for industrial parks to ensure that every industrial park in Malaysia meets “acceptable standards”, said Deputy Minister Liew Chin Tong.

Expected to be established next year, Liew said the star rating system would evaluate four key parameters, namely planning and management, infrastructure and business competitiveness, environmental sustainability, as well as social responsibility.

“These measures will ensure that every industrial park in Malaysia meets acceptable standards, and call out those which do not meet the standards. 

“Soon, these guidelines will be seamlessly integrated into the MYSite Selection portal, empowering investors with detailed, transparent assessments,” he said at the launch of the portal and the Malaysia Industrial Park Directory here on Wednesday.

Liew was representing Minister Tengku Datuk Seri Zafrul Abdul Aziz on behalf of Miti.

The digital portal developed by Mida is set to revolutionise industrial site selection in Malaysia, where it combines advanced geospatial analytics with comprehensive industrial data, offering investors an unprecedented tool for location decision-making. Users could access real-time information about industrial parks across all Malaysian states, complete with infrastructure details, connectivity options, and sustainability metrics.

In addition to the digital platform, Mida and the Federation of Malaysian Manufacturers (FMM) also launched on Wednesday the Malaysia Industrial Park Directory, a comprehensive directory providing detailed information about industrial parks across the country.

“Malaysia’s ambition is to build a resilient supply chain for various industries, including strategic sectors like semiconductors. 

“The MYSite Selection portal and Malaysia Industrial Park Directory would facilitate this journey by allowing investors to swiftly identify areas with the best suitability for their operations, and tap into our robust and mature manufacturing ecosystem,” said Liew.

The portal’s features include intelligent filtering systems for precise location matching, real-time analytics and data visualisation, comprehensive geospatial mapping, and a user-friendly interface for seamless navigation. 

Mida chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the portal and directory are not just tools but also catalysts for smarter, faster, and more efficient decision-making in the industrial sector.

Meanwhile, FMM president Tan Sri Soh Thian Lai said the publication of the directory in collaboration with Mida, now in its second edition, would provide manufacturers with a comprehensive guide for identifying optimal locations that align with their strategic needs, while also supporting the establishment of smart factories and other high-value investments. 

Soh also said that Malaysian small and medium enterprises need to level up their playing field by collaborating with advanced players like those from China, Japan, South Korea and some European Union to improve their efficiency, productivity, and adoption of the latest technology to reduce their reliance on foreign workers while tapping into international markets. 

Source: Bernama

MITI to set up star rating system for industrial parks next year, says Liew

Malaysia has approved investments totalling RM254.7 billion in the first nine months of 2024, an increase of nearly 11% when compared to the same period last year, a government agency said.

A total of 4,753 new projects have been approved in the period of January-September 2024, Malaysian Investment Development Authority (Mida) said in a statement. The agency said it is still actively pursuing more than 1,400 proposals worth RM62.0 billion, and is in talks for high-potential leads valued at RM70.6 billion.

“We are committed to ensuring these investments translate into tangible economic benefits, quality job opportunities, and long-term prosperity for all Malaysians,” said Mida chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid.

The services sector accounted for the bulk of approved investments at RM160.7 billion, followed by manufacturing at RM88.8 billion, and RM5.2 billion in the primary sector of the economy, a segment that typically covers raw commodity production and extraction, such as mining and plantation.

In terms of states, the approved investments went most into Selangor, followed by Kuala Lumpur, Kedah, Penang and Johor.

Domestic investments accounted for 58% of the approvals, while foreign investments contributed 42%, with the top five sources being from Germany, China, the US, the Netherlands, and Singapore.

“This healthy ratio between robust domestic participation and strong foreign interest forms a solid foundation for Malaysia’s future economic growth and resilience,” Mida noted.

Source: The Edge Malaysia

Malaysia approves RM254.7b in total investments from January-September, MIDA still chasing projects worth RM62b

The approved investments of RM254.7 billion for the first nine months of 2024 (9M’24), underscore investors’ unwavering confidence in Malaysia’s economic policies and direction, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

In a statement today, Tengku Zafrul said the 10.7% year-on-year growth and the creation of over 159,000 jobs speak volumes of Malaysia’s strategic frameworks and the government’s concerted efforts to attract high-impact investments for sustainable growth.

He added that Malaysia’s policy consistency and adaptability have encouraged investors to implement longer-term commitments while equipping the country with the capacity to navigate evolving global challenges effectively.

“As we progress towards our goal of becoming one of the top 30 global economies by 2033, the Madani Government is steadfast in its commitment to fostering an environment where both domestic and international investors can thrive. Our focus extends beyond achieving investment targets; we are laying the foundation for a sustainable and inclusive economy that will empower all Malaysians,” Tengku Zafrul said.

Malaysian Investment Development Authority (Mida) CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the agency is committed to ensuring these investments translate into tangible economic benefits, quality job opportunities, and long-term prosperity.

He added that Mida has seen a remarkable value of approved investments in the 9M’24, reflecting its strategic commitment to building a thriving, innovation-driven economy.

“The continued growth in domestic investments highlights the strong confidence of local businesses in Malaysia’s robust investment ecosystem. As we approach the end of the year, Miti and Mida’s priority remains focused on enhancing Malaysia’s competitiveness in an ever-evolving global market,“ said Sikh Shamsul Ibrahim.

Domestic investments led the way, accounting for 58.1% of the total approved investments in 9M’24, valued at RM148 billion, while foreign investors contributed RM106.7 billion, or 41.9%.

Mida said domestic businesses rose and displayed commendable resilience despite current challenging times.

“This healthy ratio between robust domestic participation and strong foreign interest forms a solid foundation for Malaysia’s future economic growth and resilience,” it added.

Selangor (RM66.8 billion in approved investments), Kuala Lumpur (RM63.9 billion), Kedah (RM34.0 billion), Penang (RM22.6 billion) and Johor (RM18.1 billion) were the top-performing states.

Germany (RM30.9 billion), China (RM10.8 billion), the United States (RM8.4 billion), the Netherlands (RM4.9 billion) and Singapore (RM4.4 billion) were the top five in foreign investments.

The National Investment Aspirations sectors, comprising electrical and electronics, pharmaceuticals, digital economy, aerospace and chemicals, were the key catalysts for economic transformation. The sectors secured RM119.9 billion involving 882 high-impact projects and are expected to create 55,892 skilled jobs.

Tengku Zafrul said the Madani Government is steadfast in its commitment to fostering an environment where both domestic and international investors can thrive as Malaysia progresses towards becoming a top 30 global economy by 2033.

“Our focus extends beyond achieving investment targets; we are laying the foundation for a sustainable and inclusive economy that will empower all Malaysians,” he added.

The services sector continues to drive Malaysia’s economic growth, with RM160.7 billion in approved investments, or 63.1% of the total approvals. They are expected to create 100,914 new jobs. Domestic investments were instrumental in this growth, contributing RM121.5 billion, or 75.6%.

Foreign investments contributed RM39.2 billion, representing 24.4%.

Top performers were information and communications at RM71.1 billion, real estate RM48.8 billion, support services RM10.3 billion, distributive trade RM8 billion and utilities RM6.8 billion.

The manufacturing sector remains the cornerstone of industrial growth, attracting RM88.8 billion in approved investments in 9M’24 with foreign investments leading the way, contributing RM66.9 billion (75.4%), while domestic investments accounted for RM21.9 billion (24.6%). 

Source: Bernama

Nine-month approved investments up 10.7% year-on-year to RM254.7 billion

Malaysia has approved a total of RM254.7 billion investments in the first nine months of 2024 (9M 2024).

This marks a steady 10.7 per cent increase from RM230.2 billion in the same period last year, according to Malaysian Investment Development Authority (MIDA).

The agency said the strong performance reflects Malaysia’s sustained economic momentum, propelled by the services, manufacturing, and primary sectors.

The services sector led with RM160.7 billion, followed by manufacturing (RM88.8 billion), and primary sectors (RM5.2 billion).

“A total of 4,753 new projects have been approved during this period, set to create 159,347 new jobs for Malaysians. “This strong performance underscores Malaysia’s enduring appeal to investors, despite the threat of global uncertainties,” it said in a statement today.

According to MIDA, the growth in job creation surged 75.9 per cent while project approvals rose 20.7 per cent year-on-year.

It said that domestic investments (DI) accounted for 58.1 per cent (RM148 billion) of total approvals, while foreign investments (FI) contributed 41.9 per cent (RM106.7 billion).

The top-performing states by investment value are Selangor (RM66.8 billion), Kuala Lumpur (RM63.9 billion), Kedah (RM34 billion), Pulau Pinang (RM22.6 billion), and Johor (RM18.1 billion).

The top five foreign investments came from Germany (RM30.9 billion), China (RM10.8 billion), United States (RM8.4 billion), Netherlands (RM4.9 billion) and Singapore (RM4.4 billion).

The National Investment Aspirations (NIA) sector contributed RM119.9 billion, representing 47.1 per cent of total approved investments across various economic sectors.

Investment, Trade and Industry Minister (MITI), Tengku Datuk Seri Zafrul Abdul Aziz said the total approved investment reflects the unwavering confidence investors have in the nation’s economic policies and direction.

He stated that the surge in investments and jobs creation speak volumes domestic strategic frameworks and the concerted efforts to attract high-impact investments for sustainable growth.

“Clearly, Malaysia’s policy consistency and adaptability have encouraged investors to implement longer-term commitments, while equipping us with the capacity to navigate evolving global challenges effectively.”

“As we progress towards our goal of becoming one of the top 30 global economies by 2033, the Madani Government is steadfast in its commitment to fostering an environment where both domestic and international investors can thrive.”

“Our focus extends beyond achieving investment targets; we are laying the foundation for a sustainable and inclusive economy that will empower all Malaysians,” Tengku Zafrul said.

Source: NST

Malaysia approves RM254.7bil in investments in first 9 months of 2024

The Malaysian Investment Development Authority (Mida) and the Federation of Malaysian Manufacturers (FMM) have launched MYSite Selection Portal, an innovative digital platform to transform the way industrial sites are chosen in Malaysia.

In addition to this digital platform, Mida and FMM also introduced the Malaysia Industrial Parks Directory, a comprehensive directory providing detailed information on industrial parks across the country.

Deputy Investment, Trade and Industry Minister Liew Chin Tong said Malaysia’s ambition is to build a resilient supply chain for various industries, including strategic sectors such as semiconductors.

“The MYSite Selection Portal and the Malaysia Industrial Parks Directory will facilitate this journey by enabling investors to identify the most suitable locations for their operations and leverage our strong and mature manufacturing ecosystem,” he said during the launch of MYSite and the Malaysia Industrial Parks Directory today.

Liew noted that while Malaysia has successfully attracted global supply chain players, it has done so for its ecosystem rather than the sheer number of industrial parks.

He underscored the necessity of creating resilient, horizontally linked supply chains that integrate domestic industries, ensuring Malaysia’s position as an indispensable middle link in global manufacturing.

“This approach aligns with the global shift from ‘just-in-time’ supply chain strategies to ‘just-in-case’, a move driven by recent geopolitical and pandemic-related disruptions. By embedding supply chain resilience into its industrial parks, Malaysia can attract high-value investments and safeguard its manufacturing future,” Liew said.

In line with these efforts, he said, one of the key paradigm shifts proposed is the development of livable communities within industrial parks.

“We must move from building for foreign workers to creating livable spaces for Malaysian engineers and workers,” he said, highlighting the need to reduce reliance on foreign labour and prevent the outflow of Malaysian talent to neighbouring countries such as Singapore.

With 50% of Malaysians earning less than RM2,600 per month, he stressed that wage growth must be tied to job quality and better living conditions.

“By providing affordable housing near workplaces, industrial parks can help employers offer competitive compensation packages, allowing local talent to thrive without relocating abroad,” Liew said.

Furthermore, he emphasised that industrial parks in Malaysia need to be redesigned boldly to address issues such as wage stagnation and to ensure the sustainability of the nation’s manufacturing ecosystem. “They must evolve beyond mere real estate projects and transform into supply chain integration hubs, livable communities, and places to retain talent.”

As part of efforts to attract high-value investments, Malaysia is developing a star rating system to assess and rank industrial parks nationwide.

“Scheduled for launch in 2025, this initiative aims to provide investors with a clear and transparent evaluation of industrial parks, enabling them to make more informed decisions about where to establish their operations,” Liew said.

The star rating system, currently being finalised by Mida, will consider various criteria, including infrastructure quality, connectivity, sustainability features, and readiness for Industry 4.0 technologies.

“By standardising these evaluations, the government hopes to create healthy competition among industrial parks, driving improvements in facilities and services offered to investors. This rating system will allow industries to identify the most suitable locations for their needs and ensure better alignment with Malaysia’s economic priorities. MIDA is expected to complete this work next year and officially launch it in 2025,” Liew said.

Source: The Sun

MIDA and FMM team up to launch MYSite Selection Portal, Malaysia Industrial Parks Directory

The Malaysian Investment Development Authority (MIDA) and Chery Corporate Malaysia Sdn Bhd have successfully organised a premier supply chain programme in Wuhu, China, which connects Malaysian automotive vendors directly with Chery’s global technology hub.

The four-day initiative, supported by the Ministry of Investment, Trade and Industry (MITI) and the Malaysia Automotive Robotics & IoT Institute (MARii), was held from Dec 2 – 5.

The programme brought together more than 100 industry leaders, including 40 Malaysian vendors, as well as ofcial representatives from MITI and MARii.

MIDA chief executive ofcer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said Malaysia’s automotive industry stands at a transformative moment, and the programme establishes a structured pathway for Malaysian vendors to access advanced technology and global markets, particularly in the crucial areas of next-generation vehicles and sustainable manufacturing.

“This represents a transformative opportunity for Malaysia’s automotive ecosystem.

“The collaboration demonstrates MIDA’s commitment to fostering high-value partnerships that advance our national economic agenda. We are focused on positioning Malaysia as a key hub in the global supply chain, ang this partnership with Chery exemplifiers the calibre of investment relationship we aim to cultivate,” he said in a statement.

Echoing these sentiments, Chery Corporate Malaysia executive vice president Leo Chen said the collaboration with MIDA highlights Chery’s dedication to building a strong and inclusive supply chain.

“We are eager to partner with Malaysian vendors to drive innovation and sustainability in the automotive industry while contributing to Malaysia’s economic growth. By inviting Malaysian vendors to Wuhu, we provide them with the opportunity to understand and adopt our global standards, enabling them to become integral contributors to Chery’s international success.

“This is more than just a collaboration; it is a shared journey of growth, innovation, and mutual achievement,” he added.

Source: Bernama

MIDA, Chery connect automotive vendors in 4-day initiative

The Malaysian Institute of Economic Research (MIER) said the partnership to host the Budget Insights Forum: Moving Towards 2025 with the Malaysian Investment Development Authority (Mida) underscores the country’s efforts to achieve an inclusive and sustainable growth.

The event held at MIDA Sentral saw chief executive officers, investors, and policymakers delve into Malaysia’s economic outlook ahead of its 2025 ASEAN chairmanship.  

MIER executive director Dr Anthony Dass said hosting the event and the event itself “fostered a culture of collaboration and open dialogue between the public and private sectors.”

“The forum offered valuable insights and practical recommendations to help shape Malaysia’s economic strategy, paving the way for a prosperous 2025 and beyond,” he said in a statement on Tuesday.

Mida chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the forum was “a significant milestone” for the agency.  

“Hosting the inaugural Mida-MIER Budget Insights Forum is an exciting step for us. This forum united key thought leaders to explore pressing macroeconomic and industrial trends shaping Malaysia’s future,” he said.

“As we set our sights on 2025, the insights shared shone the spotlight on the need for strategic foresight in a world of constant change, perfectly aligning with Mida’s mission to cultivate a resilient and innovative business ecosystem.

“The ideas and conversations sparked here will help businesses and policymakers tackle challenges head-on while uncovering new opportunities for long-term success,” he added.  

A panel of moderators and speakers provided a broad view of Malaysia’s economic landscape.

The first panel session on ‘Macroeconomic Overview and Implications’ delved into global economic dynamics, examining the potential impact of the US presidential election, Malaysia’s upcoming Asean chairmanship, and the evolving US-China relations.

The session also highlighted Malaysia’s position within Asean and its position vis-a-vis the BRICS economic sphere.  

The second panel session on ‘Industrial Growth and Investment’ explored strategies for business development and economic resilience.

Key topics included supply chain optimisation, talent development initiatives, and sustainable business practices, with particular emphasis on Malaysia’s digital economy transformation and innovation ecosystem.

Source: Bernama

MIDA-MIER forum explores Malaysia’s economic future

Malaysia is set to accelerate its development amid challenges in talent acquisition and domestic investments after becoming a BRICS partner country.

Malaysian Investment Development Authority (Mida) CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said this partnership aligns with Malaysia’s broader push to meet its industrial and economic ambitions under the National Semiconductor Strategy.

He emphasised that resolving Malaysia’s talent shortage remains a long-term challenge, requiring cohesive efforts across universities, ministries, and agencies.

“The talent gap is a structural issue. Producing the 60,000 skilled professionals needed for the semiconductor industry is an ongoing effort that involves connecting educational institutions with industry demands,” he told reporters at the Mida-MIER Budget Insights Forum today.

Shamsul noted that the government’s approach includes the activation of Mida’s Talent Management Division to bridge the gap between industry requirements and talent supply.

“However, officials acknowledged that more comprehensive policies are essential to meet the expectations of companies investing in Malaysia,” he said.

Additionally, Shamsul said, the partnership with BRICS is seen as a critical step toward boosting domestic investments in high-growth and high-value industries.

“The government aims to shift reliance away from foreign direct investment by encouraging local companies to scale up their investments in manufacturing and technology-intensive sectors.

“While foreign investors often bring substantial capital into a limited number of projects, local companies tend to launch many projects with relatively low investment value. For Malaysia to compete globally, we need our domestic firms to invest more in advanced manufacturing and high-tech industries.”

On the outlook for 2025, Shamsul said Mida has set ambitious goals to strengthen domestic investment and reduce over-dependence on services, targeting a more balanced approach between manufacturing and high-tech industries.

“GLIX, a prominent local investor, has been cited as a model for successfully channelling capital into high-growth sectors.

“Our collaboration with BRICS marks a new chapter in Malaysia’s industrial development. By leveraging strategic partnerships and fostering talent development, we aim to create a robust ecosystem that supports both foreign and domestic investments,” he added.

In another move to expand the renewable energy sector, Shamsul said, Malaysia is collaborating with authorities in the United States to enhance its solar industry.

“A team from the US specialising in solar energy will visit Malaysia this month to conduct a comprehensive survey and engage with local solar companies. The US team, working in coordination with the Ministry of Energy and Ministry of International Trade and Industry, aims to gather accurate data on Malaysia’s solar industry. This step is crucial as the information available to them may not reflect the ground realities,” he said.

Shamsul noted that the survey will focus on understanding the challenges and opportunities within the Malaysian solar sector, including tariff structures and market dynamics. “Some countries impose high tariffs, while others don’t. The US delegation’s visit will help evaluate these differences and inform future collaborations.”

Discussions set to be held during the visit are expected to cover key aspects of solar module sales and strategies for scaling up Malaysia’s renewable energy capabilities, he added.

Source: The Sun

BRICS partner country status gives impetus to Malaysia to tackle talent gap, boost domestic investments

Diversification of operations and markets has become essential for businesses in Malaysia to stay competitive, said Malaysian Investment Development Authority (MIDA) chief executive officer (CEO) Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid.

He said that for the survival of many industries, diversification has become an important element for business survival.

“In the solar sector, for instance, United States (US) tariffs imposed on producers from Malaysia, Thailand, Vietnam and Cambodia will significantly increase the cost of exports to the US.

“As a result, companies within these countries, which account for approximately 60% of solar exports to the US, must diversify their markets to remain competitive. The pressure is on them to seek new markets, including within the BRICS nations,” said Sikh Shamsul.

He said this during the ‘Budget Insights Forum: Moving Towards 2025’, which was organised by MIDA and the Malaysian Institute of Economic Research (MIER) at MIDA Sentral here on Tuesday.

The CEO highlighted that similarly, the global semiconductor industry is facing challenges due to the latest US restrictions on Chinese semiconductor companies and their supply chains.

“This provides an opportunity for Malaysia, as we are already seeing interest from Chinese companies in the semiconductor field. These companies, including semiconductor manufacturers, equipment suppliers, and material makers, are looking to diversify their operations away from China to reduce their exposure to geopolitical risks.

“Malaysia, with its favourable investment environment, is seen as an attractive destination for these companies to establish operations that do not involve Chinese equity ownership, thereby mitigating risks while still accessing global markets,” Sikh Shamsul said.

In light of these shifts, he said that diversification is a key strategy for Malaysia’s continued economic growth.

“The Malaysian government is focusing on diversifying investments, particularly in high-growth sectors like semiconductors and electric vehicles, and exploring new markets to reduce dependency on traditional trade partners,” Sikh Shamsul noted.

Source: Bernama

Diversification key to Malaysia’s business survival amid global challenges, says MIDA CEO