English
contrastBtngrayscaleBtn oku-icon

|

plusBtn crossBtn minusBtn

|

This site
is mobile
responsive

sticky-logo

Paving the way for smart city

THE Pengerang Municipal Council (MPP) held a mini showcase highlighting its smart city initiative in line with the Johor Smart City Agenda 2030 which shed light on its development plans.

MPP president Fizwan Mohd Rashidi said the showcase aimed at sharing some milestones that it had achieved and future plans to improve the living conditions and socio-economic status of Pengerang folk.

“We want the public to know that they are crucial in every development and policy that is approved.

“The showcase not only caters for what we have planned in Pengerang but also for Kota Tinggi in general, on how we plan and streamline our development so that it is inclusive and sustainable,” he said, adding that the one-day showcase was launched by Kota Tinggi district officer Datin Paduka Hazlina Jalil.

Fizwan shared that MPP had organised a sharing session with the Malaysian Institute of Estate Agents (Johor) on its initiatives.

“Some of the plans discussed include placing smart CCTVs in designated areas, smart traffic lights, digital banners and adopting the econtract system.

“We also shared our smart waste management system, which is in line with the low carbon society agenda,” he said, adding that these developments were important in attracting more investors to the district.

Meanwhile, Hazlina said the showcase also shared the six initiatives to strengthen investment activities introduced by the state government to achieve its target of becoming a developed state by 2030.

“This includes practising smart and green management in our day-to-day work, such as introducing an online payment initiative and placing a mobile counter away from the office.

“Kota Tinggi has the potential to become the gateway for international tourism activities with the opening of the Desaru Ferry Terminal and the ongoing development at the Tanjung Belungkor Ferry Terminal and Tanjung Pengelih Ferry Terminal,” she said.

Hazlina shared that besides tourism, the Kota Tinggi district also focused on developing the oil and gas hub namely the Pengerang Integrated Complex and Pengerang Deepwater Terminal.

“These projects have given life to the district as the main international investment destination, so we need to organise a better strategy to attract more investors to the area so that we can create a more vibrant development,” she added.

Source: The Star

Paving the way for smart city


Content Type:

Duration:

KUALA LUMPUR (Dec 6): Malaysia’s electrical and electronics (E&E) sector is expected to contribute RM120 billion to the country’s gross domestic product (GDP) and generate RM495 billion in export earnings by 2025, as Malaysia continues to attract high-quality investments and is expected to uphold its growth trajectory.

Malaysian Investment Development Authority (Mida) deputy chief executive officer of Investment Promotion and Facilitation Sivasuriyamoorthy Sundara Raja said the manufacturing sector attracted RM43.1 billion in investments for the first half of 2022 (1H2022).

“Among the sub-sectors of the Malaysian manufacturing industry, E&E proves its mettle and robustness by continuously attracting the highest number of investments.

“During this period, the industry recorded a total of RM19.49 billion in approved investments and we expect to generate over 13,000 job opportunities, including highly-skilled positions such as managerial, engineers and technicians,” he said during his opening speech at the Malaysia National Electrical and Electronics Forum 2022 here on Tuesday (Dec 6).

Sivasuriyamoorthy said the E&E industry is integral to the manufacturing sector and serves as a vital element to the nation’s economic prosperity.

“The sector is also a veritable cornerstone of the global semiconductor industry, producing 13% of the world’s backend semiconductors in 2021, with exports accounting for 40% of total national output.

Sivasuriyamoorthy said some of the most prestigious and innovative electronics businesses in the world, such as Intel, STMicroelectronics, Infineon and others, have increased their presence in Malaysia.

“MIDA is committed to building a resilient and sustainable electronics supply chain in the Asean region.

“Apart from local industry players, we are expanding the benefits of our manufacturing ecosystem to global businesses and brands,” he said.

Resilent, sustainable supply chains

Up until early this year, the biggest challenge facing the global semiconductor industry was shortages, mainly triggered by soaring demand for electronic consumer products such as PCs and smartphones during the Covid-19 pandemic, Sivasuriyamoorthy said.

He said US-China trade tensions also added difficulties for some global semiconductor players and resulted in global supply chain disruptions.

“To further strengthen the semiconductor supply chain, Malaysia has signed the US-Malaysia Memorandum of Cooperation (MOC) in May 2022 on Semiconductor Supply Chain Resilience, which aims to provide guiding principles for both our nations,” he added.

Sivasuriyamoorthy said Mida is committed to building resilient and sustainable electronics supply chains in the Asean region. 

“Apart from local industry players, we are expanding the benefits of our manufacturing ecosystem to global businesses and brands.

“The growing participation and research and development efforts in the different layers of our domestic and foreign investors will also enhance the industry’s value chain,” he added.

He said businesses could capitalise on the E&E sector’s potential growth, which will further boost the nation’s economy with the correct strategies and knowledge.

Source: Bernama

E&E sector to generate RM495 bil in export earnings by 2025, says MIDA


Content Type:

Duration:

The Malaysian Investment Development Authority (MIDA) is prepared to support small and medium enterprises (SMEs) in adopting Enterprise Resource Planning (ERP) solutions through the allocation of government grant.

MIDA has signed a Memorandum of Understanding (MoU) with the Collaborative Research in Engineering and Science and Technology Centre (CREST) and Dassault Systèmes Singapore Pte Ltd on ERP adoption today.

MIDA chief executive officer Datuk Wira Arham Abdul Rahman said MIDA is committed to help SMEs through government grants, especially those wishing to take part in Industrial Revolution 4.0.

“This timely initiative aims to elevate our local SMEs and equip them with the latest technology to enhance their business efficiency through adopting world-class ERP solutions.

“We take great pride in MIDA’s involvement in this initiative to empower Malaysian firms and SMEs to fortify their technical capabilities and embrace modern technology, thus enabling them to progress and flourish,” he told a press conference after the signing ceremony here today.

The partnership aims to create a steering committee to discuss the scope, requirements, roles and plans in supporting Malaysia’s SMEs in their transformation journey to Industry 4.0 as well as enhancing cloud-based collaboration through adopting world-class ERP solutions.

The ERP solutions will leverage on Dassault Systèmes’ virtual twin technologies via its 3DEXPERIENCE platform, specifically in its computer-aided design software and Product Lifecycle Management solutions, which are used in various industries including manufacturing, engineering and life sciences.

Meanwhile, CREST CEO Jaffri Ibrahim said the MoU aimed to provide a platform that allows Malaysian businesses to thrive in a competitive business environment post-pandemic.


“We constantly seek opportunities to collaborate with the government, industry leaders and academia to advance scientific knowledge in the country. In turn, we aim to strengthen homegrown innovation and research while we help local businesses navigate their challenges and opportunities in the new normal,” he added.

Source: Bernama

MIDA ready to assist SMEs to adopt ERP Solutions through govt grant


Content Type:

Duration:

The Malaysian Investment Development Authority (MIDA) and the United Nations Development Programme (UNDP) of Malaysia, Singapore, and Brunei Darussalam are set to launch the inaugural Malaysian Sustainable Development Goals (SDG) Investor Map in 2023

MIDA said that the map will provide insights and tools needed by the private sector to increase their investments towards the SDGs and fill the financing gap faced by the government with regard to meeting the SDG targets.

“The SDG Investor Map will assist in unveiling untapped opportunities that have the potential to spur rapid development,” said MIDA chairman Tan Sri Sulaiman Mahbob in a statement.

He said that it will also provide the government with a clear direction to focus on new areas that could benefit from policy implementation and provision of resources, such as human capital and capacity-building initiatives.

Meanwhile, the UN under-secretary-general and UNDP associate administrator Usha Rao-Monari said that now is the time for private businesses and investors to place their bets on climate-sensitive investments and not just hedge their climate risks.

“(They are able) to make real business value from green products and services, (as well as from) climate mitigation and adaptation solutions.

“By venturing into new products and services that contribute to climate solutions, businesses can gain good market returns and be a leader in their respective industries,” she said.

Accordingly, MIDA noted that as reported by the Global Commission on Adaptation in 2019, a US$1.8 trillion (US$=RM4.40) investment in climate change adaptation measures is expected to bring a return of US$7.1 trillion in avoided costs and other benefits

Both Sulaiman and Usha were giving their remarks at the ‘Private Sector Dialogue on the SDG Investor Map,’ themed “Sustainability Does Matter: Investing for a Better Future”, coorganised by UNDP and MIDA here today.

The dialogue aimed at engaging with industry players in identifying new investment opportunities with potential contributions to SDGs, while generating attractive market returns.

Source: Bernama

MIDA, UNDP set to launch Malaysian SDG Investor Map in 2023


Content Type:

Duration:

The Malaysian plastics industry exhibited resilience during the pandemic and has continued on a steady growth path.

The Malaysian Investment Development Authority (MIDA) said as of June 2022, 33 projects in the sector had been approved with accumulated investments of RM503.5 million.

Chief executive officer Datuk Arham Abdul Rahman said as the plastics industry continues to grow, it is important that companies, particularly small and medium enterprises (SMEs), focus on innovation and raise productivity to compete and capture new opportunities.

“MIDA has proactively taken the initiative to ensure investors have access to the right infrastructure, proper facilities and skilled talent to cater to the requirements of businesses,” he said in his keynote address at a conference on government assistance at MIDA’s headquarters on Wednesday.

The conference, specifically for the plastics industry and attended by 100 participants, was co-organised with the Malaysian Plastics Manufacturers Association (MPMA) and aimed to provide insight into various government policies, facilitations, and assistance.

Arham noted that among the initiatives and assistance provided by MIDA to manufacturers of plastics products include the Smart Automation Grant Industry4WRD Intervention Fund, Automation Capital Allowance (ACA) and the Domestic Investment Coordination Platform (DICP).

“Malaysia is also committed to achieving net zero carbon by 2050 and for this, MIDA is working closely with MPMA to drive industry collaboration and understand the demand and supply of recycled plastics resources.

“Companies should look for practical ways to recover resources where possible and channel them back into production,” he said.

MPMA vice-president Datuk Noraini Soltan highlighted that the plastics industry continues to face tremendous challenges including a shortage of labour, an increase in cost arising from the increase in minimum wages and rising interest rates as well as a slump in overseas demand due to economic slowdown.

Moving forward, she said it is unavoidable for plastics manufacturers to shift towards high technology to reduce dependency on foreign workers and low skilled labour.

“The ability of the plastics industry to produce high quality products at competitive prices will strengthen our role as a supporting industry, and in turn attract more foreign direct investments.

“As investing in high technology and automation is a long-term process and given the fact that 90% of plastics companies are SMEs, continued assistance and support from the government in the form of grants, incentives and financing is crucial.

“This will enable more plastics companies to have sufficient resources to invest in advanced machinery and new product development for sustainable growth,” said Noraini.

The MIDA-MPMA conference featured speakers from MIDA, Inland Revenue Board of Malaysia, Malaysian Industrial Development Finance Bhd (MIDF), Malaysia External Trade Development Corporation (MATRADE), Ministry of Science, Technology and Innovation (MOSTI), United Overseas Bank Ltd and TalentCorp Malaysia.

On the conference, Noraini said the industry was very fortunate to have been able to learn from knowledgeable speakers on the various types of government assistance and facilitations.

“We hope that the participants would have obtained useful information which will assist employers to formulate strategies to make changes to your business models, and operations and move up the value chains via this conference,” she added.

Source: Bernama

Malaysian plastics industry remains resilient with steady growth — MIDA


Content Type:

Duration:

Food and beverage company, Mamee-Double Decker (M) Sdn Bhd continues its global market exploration and expansion with the assistance of the Malaysian Investment Development Authority (MIDA).

Mamee senior corporate relations manager Sharszany Shahry Abu Shahriman said the collaboration with the government agency could, among other things, strengthen the company’s daily operations.

“So far, the strong cooperation between the two parties has helped Mamee become a multinational Malaysian food and beverage company with exports to more than 80 countries, including Jordan, Australia, Thailand, Singapore, Indonesia, Myanmar. and the Philippines,” he said when contacted by Bernama.

According to him, the collaboration was also expanded with the status of Principal Hub which was recently approved by MIDA and transformed Mamee in terms of operations and commercials.

“Operation-wise, Mamee can invest in industrial revolution 4.0 technology by automating factory production to increase efficiency and to also manufacture more quality products for consumers around the world.

“Commercially, the principal hub status will help Mamee become a ‘proposition’ to other business partners around the world, he said.

In addition, Sharszany Shahry said the collaboration also helped Mamee built a stronger brand network globally with the latest market opportunities to the African continent after being invited by MIDA to a programme with African countries recently.

In the meantime, he said Mamee is carrying out improvements in its daily operations in terms of environmental, social and governance (ESG) compliance as encouraged by the government.

“It includes providing a rainwater harvesting system and solar panel technology for environmental compliance as well as taking care of the workers’ welfare by providing a conducive work environment and quality food.

“Even though Mamee is a business managed by family members and is a private business, the foundation of building Mamee’s business is based on meritocracy and accountability, he said.

Sharszany Shahry said for the long-term plan, Mamee is now investing in a network of start-ups for certain food and beverage business services under Mamee Ventures, among them The Good Crisps Company in the United States.

He said, Mamee also has an existing collaboration network with Hausboom under the auspices of The Boom Bevlab apart from Daebak with Shinsegae Food Korea, and soon Better Baker for cake and biscuit products.

Source: Bernama

Mamee collaborates with MIDA to explore, expand markets abroad


Content Type:

Duration:

The Association of Malaysian Medical Industries (AMMI) members plan to invest RM1.4 billion in expansion, RM389 million in new products and RM158 million in research and development (R&D), centre of excellence and Industry 4.0, according to AMMI Medical Device Industry Status and Outlook 2021/2022 Report.

AMMI members have sourced RM3.92 billion of raw materials and services from local suppliers and small and medium-sized enterprises (SME) within the country.

The maiden report was released by AMMI and the Malaysian Investment Development Authority (Mida), highlighting Malaysia’s medical device industry’s resilience in the face of Covid-19 pandemic challenges.

The report said that Malaysia is regarded as one of the world’s top offshore manufacturing hubs for medical devices alongside Puerto Rico, Ireland and Costa Rica.

According to its analysis, 10 out of the top 30 global medical technology companies have established manufacturing footprints here.

In addition, close to 300 medical device manufacturing companies make up Malaysia’s medical device industry, undertaking activities ranging from regional headquarters and manufacturing to R&D.

AMMI chairman Andy Lee expressed that Malaysia will continue to attract more foreign direct investment in the medical device manufacturing with the Ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) recently.

“AMMI believes that the industry has the potential to scale even further and capitalise on the global medical device market, which is expected to reach US$745 billion (RM3.47 trillion) by 2030. In the pandemic era, AMMI members’ investment levels in Malaysia continued to grow, signalling their confidence in Malaysia. Sixty-three percent of members indicate future development plans, and this trend is expected to continue in the coming years,“ he said.

Mida CEO Datuk Wira Arham Abdul Rahman said that AMMI has collaborated with Mida since 2015 to be the primary conduit for investor facilitation for its members notwithstanding the industry’s difficulties.

“AMMI has helped the industry’s major companies organise training programmes which have benefitted 2,647 Malaysians and increased their chances of securing better jobs.”

On Dec 1, AMMI will organise the inaugural Malaysia MedTech Industry Summit in Penang, which will serve as a platform for local suppliers to connect with medical device manufacturers.

Source: The Sun Daily

AMMI members plan to pump in RM1.4b for expansion


Content Type:

Duration:

Malaysia has established itself as one of the world’s top offshore manufacturing hubs for medical devices, with close to 300 medical device manufacturing companies undertaking a variety of activities ranging from regional headquarters and manufacturing to research and development (R&D).

In a statement on Monday (Nov 14) in conjunction with the Association of Malaysian Medical Industries (AMMI) Medical Device Industry Status and Outlook 2021/2022 Report, the Malaysian Investment Development Authority (MIDA) and AMMI said 10 out of the top 30 global medical technology have set up manufacturing in Malaysia, and thus puts the country in the company of Puerto Rico, Ireland and Costa Rica offshore manufacturing hubs.

MIDA chief executive officer Datuk Wira Arham Abdul Rahman said that since 2015, AMMI has collaborated closely with MIDA to foster the development of the country’s medical device industry.

“AMMI has helped the industry’s major companies organise training programmes, which have benefited 2,647 Malaysians and increased their chances of securing better jobs.

“AMMI has helped promote Malaysia as a prospective investment destination in this region and Asia, attracting the attention of major international firms in the medical device industry.

“MIDA also plays the role of mediator between the companies and local regulators, ensuring the quality standards and requirements match the global demand,” he said.

Meanwhile, AMMI chairman Andy Lee said Malaysia will continue to attract more foreign direct investment in medical device manufacturing with the ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

He said AMMI believes that the industry has the potential to scale even further and capitalise on the global medical device market, which is expected to reach US$745 billion (RM3.4 trillion) by 2030.

He said that in the pandemic era, AMMI members’ investment levels in Malaysia continued to grow, adding that 63% of its members indicate future development plans, and that this trend is expected to continue in the coming years.

Source: The Edge Markets

Malaysia ranks among world’s top offshore manufacturing hubs for medical devices, says report


Content Type:

Duration:

Enhancing domestic direct investment (DDI) is important for Malaysia’s sustainable growth given its huge contribution to the country’s economy, said the Malaysian Investment Development Authority (MIDA).

Chief executive officer Datuk Arham Abdul Rahman said DDIs play an important role in the local economy, especially against the backdrop of global uncertainties, and is essential to woo foreign direct investment (FDI).

He pointed out that FDI and DDI complement one another, arising from the same market conditions – a competitive, equitable, stable business and regulatory climate – and that both segments deserve equal attention.

“FDI is only one part of the equation in the economy, a strong domestic industry and ecosystem are also important.

“Strong domestic demand results in more DDI and a healthy DDI is essential for a successful FDI,” he said at a panel discussion titled “Shifting the Paradigm: Enhancing DDI for Sustainable Economic Growth” here today.

In 2012-2021, DDIs contributed 64.2 per cent, or RM1.364 trillion, of the total approved investment in Malaysia’s economy, while the remaining 35.8 per cent (RM761.7 billion) was FDIs.

In the services sector, 84.2 per cent or RM1.014 trillion of total approved investment in the country was dominated by DDI, while FDI amounted to RM190.4 billion.

As for manufacturing, 35.5 per cent, or RM290.8 billion, of approved investment was contributed by DDI while the bigger chunk was FDI, totalling RM527.6 billion.

Source: Bernama

MIDA calls for more domestic direct investment to sustain economic growth


Content Type:

Duration:

The Malaysian Investment Development Authority (MIDA) expects the total approved investments in 2022 to recover to the pre-pandemic level of over RM200 billion annually.

Chief executive officer Datuk Arham Abdul Rahman said on average, domestic direct investment and foreign direct investment made up 60:40 of the country’s yearly approved investments, mainly for the services sector.

He said investments in semiconductors and electrical and electronics (E&E) would continue to make up the largest contribution to the total investment this year.

“The global disruptions in the E&E and semiconductor supply chains globally during the pandemic saw many chips and semiconductors being utilised in mobile phones and PC productions, (causing a shortage) for the automotive industry.

“Now the demand for chips and semiconductors in the automotive industry is on an uptrend,” he told a press conference after a panel discussion titled “Shifting the Paradigm: Enhancing DDI for Sustainable Economic Growth” here today.

In the first half of 2022, MIDA approved RM123.3 billion in total investment, largely in the services sectors, including for the data centre projects in Johor.

He declined to reveal the latest figure of approved investments but signalled that the trend is increasing, in tandem with growing interest in Malaysia as a preferred destination for investment among domestic and foreign investors.

In 2021, MIDA approved a record RM309.4 billion (US$74.2 billion) in investments in the manufacturing, services, and primary sectors despite the unique global calamities, thanks to several big ticket projects secured, especially in the E&E and semiconductor industry, including from Intel and Osram.

Sumber: Bernama

Approved investments in 2022 to match pre-pandemic level of over RM200 billion yearly – MIDA


Content Type:

Duration:

Merely looking at the value of domestic direct investment (DDI) data alone would not give a full picture of the country’s local investment landscape, the Malaysian Investment Development Authority (MIDA) said.

Its senior executive director of investment policy advocacy Sikh Shamsul Ibrahim Sikh Abdul Majid said DDI numbers tend to be lumpy over the years due to major investments being cyclical in nature. 

In terms of the value of approved DDIs, the amount has been uneven but recorded a downward trend from RM150.6 billion in 2015 to RM125.5 billion in 2019. During the Covid-19 pandemic years, it continued to fall to RM103.2 billion in 2020 and further to RM97.9 billion in 2021, which was somewhat expected. 

Shamsul attributed the lumpy numbers to large-scale projects like Petroliam Nasional Bhd’s (Petronas) Pengerang project in Johor, where the investments tapered off close to 2018. 

“A foreign direct investment (FDI) can invest about RM30 billion in a project, something you will not see in a DDI. But in terms of the number of projects, DDIs are about two to three times more than FDIs. We cannot conclude based on the value alone that DDI is down. Over time, big domestic investments [like Pengerang] will come again,” he said during a panel discussion titled “Shifting the Paradigm: Enhancing DDI for Sustainable Economic Growth” on Tuesday (Nov 8). 

“Right now, what we really need to look at is how we can encourage domestic services companies to go into manufacturing, so that we can have more of that in the manufacturing sector,” he said. 

Notably, the services sector dominated DDI approvals, totalling about 70% each year. 

AmBank Group chief economist and head of research Anthony Dass, who was the moderator of the panel discussion, chipped in to say that DDIs are usually smaller in value than FDIs. 

“The value today may be small, but we hope that in five years’ time, it will grow bigger. But, even then, multinational corporations’ investments will still be bigger than DDIs. We have to move away from the traditional method of just looking at the value of the investment, and to include looking at value-adding and how much we have moved up the value chain,” he explained. 

During the panel discussion, Shamsul also pointed out that there is a common misconception among local companies that where incentives are concerned, FDIs are able to get things done more easily than local companies.

He added that incentives are readily available for both local and foreign companies, and even for smaller companies, like the pioneer status and investment tax allowance. 

But the incentives are not “free giveaways”, Shamsul said, as local companies would have to meet the criterias for the incentives. They would also need to approach MIDA directly to find out more, and apply for the incentives that can help to further their businesses and investments.   

Later at a press conference, MIDA chief executive officer Datuk Arham Abdul Rahman said MIDA is confident that total approved investments in 2022 will hit RM200 billion or more in value, which is consistent with the amount achieved each year before the pandemic. 

In the first half of the year, total approved investments amounted to RM123.3 billion. 

He is of the view that comparisons should not only be made between total approved investments in 2022 and what was achieved in 2021, given how 2021 was an exceptional year due to approvals for a few big projects in the electrical and electronics industry. 

In 2021, total approved investments totalled a record RM309.4 billion. 

Going forward, despite concerns over a possible economic slowdown, Arham is confident that the country will also be able to achieve RM200 billion in total approved investments in 2023, judging by the pipeline of projects that MIDA is working on.

Source: The Edge Markets

Value of approved domestic investments alone not the full picture — MIDA


Content Type:

Duration:

Vision for a Digital Malaysia

Much of our world today is powered by science and technology. Businesses and organisations have shown incredible resilience as they navigated uncertainty and changes brought about by the pandemic through the adoption of digital upgrades. Emerging technologies such as artificial intelligence (AI), the internet of things (IOT) or big data analytics and blockchain, all have a profound impact, causing a digital transformation in the world’s economy and the way of life of modern society.

The ability to seize opportunities emerging from innovative technologies and business models plays an important role in driving new engines of the country’s economic growth.

I believe that Malaysia is on the right trajectory, and is attracting the right type of investments in transforming us into a high-income digital nation, aligning with the government’s MyDIGITAL blueprint and National Investment Aspirations (NIA). We need to collectively do more to amplify the impact of innovation, and channel the momentum of change to build a better world.

Let me put forth some ways that we can maximise the impact of innovation in this time of rapid change.

Digital-Driven Investments

For the period of January to June 2022, Malaysia has attracted a total of RM123.3 billion (USD28.0 billion) worth of approved investments in the manufacturing, services and primary sectors involving 1,714 projects, and these are expected to create 57,771 job opportunities in the country.

In this period, the services sector assumed a significant role towards driving the country’s economic recovery, accounting for 63.3 per cent of total approved investments involving RM78.0 billion (USD17.7 billion). Three data centre projects alone accounted for RM51.1 billion or 95.2 per cent of the investment. The stellar performance for the services sector exceeded expectations for January to June 2022, an increase of 48.8 per cent from the achievement attained in the same period in 2021. This is followed by the manufacturing sector at RM43.1 billion (USD9.8 billion).

This shows Malaysia’s diversified services sector continues to embrace digitalisation to move up the value chain and boost operational efficiency when remote-working and automation trends have accelerated due to the COVID-19 pandemic. New services have materialised through the invention of the IOT. AI and the cloud network have redefined the service sector’s importance in Malaysia’s economy.

National Investment Aspirations (NIA) which serve as a roadmap for the New Investment Policy (NIP), launched on 6 October 2022, includes overarching objective and strategic policies to promote the steady growth of Domestic Direct Investment as well as Foreign Direct Investment and continue Malaysia’s transition towards a knowledge-based and digital economy. The NIP emphasised the nurturing of innovative, high-impact and high-tech investments which would be conducive to the creation of high-skilled jobs. Under the NIP, the digital economy is identified as one of the major cornerstones for the nation’s economic growth with significant development opportunities. As such, Malaysia aspires to emerge as one of the regional leaders in the digital economy, with an increased proportion of exports coming from digital content and services.

Digital Economy Facilitation

Concerted efforts that include infrastructure expansion, policy development, investment promotion, sustainability awareness, and talent development will lay a sturdy foundation for Malaysia’s digital economy landscape.

The Digital Investment Office (DIO), a collaborative platform between MIDA and MDEC, was established to coordinate and streamline digital investments into the country while providing end-to-end facilitation to investors, thus helping investors to realise their business growth expansion in Malaysia. The office is committed towards attracting digital investments that embody high-quality, sustainability and technologies.

This is in line with the government’s aim to attract RM70.0 billion (USD15.6 billion) investments to accelerate digitalisation efforts by 2025. This initiative is timely and in line with the evolution of the global investment landscape towards digitalisation and Industry 4.0, creating unique and interesting value propositions for digital projects which involves digital infrastructure projects like data centres and submarine cables as well as digital technology projects that utilise IR4.0 technology.

The DIO also advocates for future-ready policies and guides talent requirements and digital infrastructure networks and addresses operational issues faced by businesses beyond the pandemic. The efforts undertaken by MIDA through its branch offices locally and internationally as well as through its digital facilitation platforms with partner agencies are expected to contribute positively to serve the growing needs of digital industries.

The strengthening of our digital landscape will empower all industries and local SMEs to participate in complex activities with higher value-add. As such, a digitally-enabled supply chain is a great attraction for foreign and domestic investors who have already taken the leap to digitise their operations.

The establishment of data centres and network infrastructures in Malaysia by local and global players such as YTL, NTT and Google is a testament of the country’s readiness to become a regional data centre hub.

Broader sectors which are poised for growth in the long run include applications and services (the e- or digital version of all social and economic segments), digital platforms that enable authentication and government delivery, and connectivity and infrastructure which is continuously being established or improved nationwide.

MIDA is also focused on ensuring that domestic industry players, particularly SMEs harness new sources of growth to deliver the next age of economic prosperity in Malaysia.

As such, the Domestic Investment Coordination Platform (DICP) team identifies missing links between businesses, funding, technology, and research capability and aims to fill them effectively.

The vision is to bring R&D to commercialisation for domestic investors through the provision of funding and technological support. The role of the DICP team includes business matching with financial institutions, collaborative partners or tech providers based on SMEs needs; identifying accessibility of funds depending on the nature and size of the company; and assisting to address commercialisation challenges for domestic players.

Moving forward, MIDA aims to anchor global technology leaders and build the capacity of our local supply chain, nurture future ready talent, and attract targeted quality investments in better preparing us for the surge of digitalisation, positioning Malaysia as a Digital Economy Hub.

Datuk Wira Arham Abdul Rahman is the CEO of the Malaysian Investment Development Authority (MIDA).

Source: The Edge Markets

Malaysia as a Regional Digital Economy Hub


Content Type:

Duration:

Source: The Sun Daily

GE15 will not have impact on FDI: MIDA


Content Type:

Duration:

Malaysia is still the most desirable location in the region for data centre hubs, said Malaysian Investment Development Authority (Mida) chief executive officer Datuk Wira Arham Abdul Rahman.

Supported by the country’s vast resources, favourable environment, and advancement in digital infrastructure, Malaysia has developed into a mature market for data centres, he said in conjunction with the grand opening of Bridge Data Centres’ (BDC) first-phase hyperscale data centre in Sedenak, Johor on Thursday.

“This illustrates the country’s readiness to serve as a regional data centre hub,” he said in a joint statement by Mida, Malaysia Digital Economy Corp (MDEC), and BDC on Friday.

Arham said the grand opening marked the success of Malaysia as a competitive nation in attracting data centre investment.

He said Mida, through the Digital Investment Office and Project Acceleration and Coordination Unit, has been very supportive of this project since its pre-investment stage right up to the implementation phase.

“We are excited and honoured to have been chosen by BDC and ByteDance System Sdn Bhd as their choice of location for the establishment of this hyperscale data centre venture,” he added.

ByteDance System will be the anchor tenant of BDC’s hyperscale data centre with long-term investment commitment in the country.

Meanwhile, MDEC CEO Mahadhir Aziz said the new facility will increase not only latency and efficiency but will  also help attract other global businesses and investments to the country.

With the rapid growth of cloud service providers and digital media, BDC has full support from the US-based Bain Capital to expand its hyperscale data centre business in the Southeast Asia region.

The company will be building another 100 megawatts (MW) of data centres in the next five years in Malaysia, Indonesia, and Thailand.

The first phase of the data centre in Sedenak covers the first of the three buildings in the 110 MW hyperscale data centre project, which spans 15.4 hectares.

BDC is one of the largest data centre companies in the region, providing hyperscale and wholesale data centre solutions.

BDC is also the first company with Malaysia Digital status to complete the construction and handover the business-ready hyperscale data centre in 2022.

Source: Bernama

Malaysia still most desirable location for data centre hubs in the region — MIDA


Content Type:

Duration:

Source: The Edge Markets

Malaysia continues to be an attractive investment destination


Content Type:

Duration:

The Malaysian Investment Development Authority (MIDA) has signed a memorandum of understanding (MoU) with  Halal Development Corp Bhd (HDC) to boost Malaysia’s halal industry.

This strategic collaboration will allow HDC to leverage the end-to-end facilitation by MIDA to assist further and enhance the industry’s capability and capacity, propelling the country’s economic growth.

MIDA chief executive officer Datuk Wira Arham Abdul Rahman said the MoU further strengthens the successful partnership between MIDA and HDC and enhances Malaysia’s position as the centre of halal ecosystem development.

Arham said this collaboration also foresees the broader scope of economic cooperation between the MIDA and HDC and provides opportunities in new and innovative business and strategic areas that will include projects to increase investment.

“Given the growing role of technology and the increasing importance of its adoption, especially since the global pandemic struck, it is apt to prioritise technology development now and post Covid-19.

“This would also be beneficial to enhance innovation and technology application in the Halal industry that Malaysia already has succeeded,” he said.

Meanwhile, HDC chief executive officer Hairol Ariffein Sahari said that Malaysia’s halal parks had attracted a total of RM16.28 billion in investments since 2011.

Hairol said HDC is seeing a trend amongst the local players, particularly the halal small and medium enterprises (SMEs), who were resilient throughout the Covid-19 pandemic.

“Despite the challenges, they have strived and are still going for business expansion and diversification to meet the growing demand.

“Hence, these SMEs are scaling up and looking for suitable and sizable industrial spaces with better infrastructure and ecosystem support, provided by HDC’s halal parks,” he said.

The collaboration will synchronise the process flow of investment facilitation during pre and post-investments between HDC and MIDA.

For 2021, HDC managed to engage 130 domestic companies with 17 letters of intent (LoI) issued into Malaysian halal parks with a potential investment of RM133 million.

It is believed that 60 per cent of the potential investment will be realised with this two-year partnership.

The MoU with HDC demonstrates MIDA’s ongoing commitment to pursuing high technology, high value-added and innovative investment projects from domestic and foreign companies.

The partnership is seen as timely to provide adequate financial support to industry players.

This is mainly for domestic investors in expanding the government’s efforts to facilitate investments in Malaysia, which is consistent with the National Investment Aspirations (NIA) framework in driving economic growth.

Source: NST

MIDA, HDC inks MoU to boost Malaysia’s halal industry


Content Type:

Duration:

Malaysian Investment Development Authority (MIDA) launched its Istanbul office to provide Malaysia and Türkiye new economic opportunities and to drive the steady growth of both countries’ bilateral trade relations.

MIDA Istanbul will serve as a gateway for aspiring Turkish investors to expand their businesses in Malaysia and vice-versa, a statement from MIDA said today.

“Investors will be able to gain access to the latest information on investment policies and opportunities, joint venture partnerships or technological collaborations,” the statement said.

MIDA said many business opportunities await Turkish investors, particularly in machinery and equipment, aerospace, information and communications technology, digital technology, food manufacturing including the halal segment.

International Trade and Industry Senior Minister Datuk Seri Mohamed Azmin Ali said the opening of MIDA’s Istanbul office is most timely to fully exploit the potential upside for enhanced Turkish investments in manufacturing and services including advanced manufacturing, machinery and equipment, aerospace and digital investments.

Meanwhile, MIDA chief executive officer Datuk Arham Abdul Rahman said apart from helping MIDA to attract new investment opportunities into Malaysia, the country is looking for new collaborations to grow together.

The new office will help to extend their outreach programmes with Türkiye’s trading partners including countries like Russia, Greece, Cyprus, Azerbaijan, Georgia and the seven “Stan” countries in Central Asia.

“Turkish investors interested in seeking joint venture partnerships or technological collaborations with Malaysian businesses can get information from this office.” he said.

MIDA said for the first half of 2022, Malaysia attracted RM123.3 billion (US$28.0 billion) worth of approved investments in the manufacturing, services and primary sectors involving 1,714 projects. About 57,771 job opportunities are expected to be generated in the country.

Foreign direct investments remained the major contributor, at 70.9 per cent, or RM87.4 billion (US$19.9 billion), while investments from domestic sources contributed 29.1 per cent amounting to RM35.9 billion (US$8.2 billion).

“With the new Istanbul office, Türkiye will no doubt contribute immensely to the socio-economic development and bring about new growth areas into Malaysia’s investment landscape,” it added.

Source: Bernama

MIDA new Istanbul office a gateway for Malaysia-Türkiye investments


Content Type:

Duration:

Kedah received 71 approved projects with total investments of RM9.7 billion from Jan to June 2022, of which RM8.9 billion were from foreign sources, said the Malaysian Investment Development Authority (MIDA).

Chief executive officer Datuk Arham Abdul Rahman said these projects will be instrumental in creating over 3,209 job opportunities.

“Despite the challenging global economic environment, Kedah has been one of the top five states for investment by the business community,” he said in his welcoming speech at the MIDA Invest Series: Unfolding States Business Potential (Kedah).

Arham revealed that the Project Acceleration and Coordination Unit or [email protected], which facilitates the speedy implementation of investment projects in the country, has also facilitated Kedah with a total of 277 approved manufacturing projects from 2017 to July 2022.

“A total of 188 projects (68 per cent) have been implemented, while 68 projects (24 per cent) are in active planning stages, such as site acquired and discussion/negotiation with relevant stakeholders, and 21 projects (8 per cent) are yet to be implemented,” he said, adding that MIDA had facilitated 1,600 projects in terms of implementation as of today.

He said for many years, the northern region of Malaysia has been driving the growth of the manufacturing industry by being a preferred destination for offshore semiconductor manufacturing activities, and a thriving electric and electronic regional hub.

“From the proposed Kedah Aerotropolis to the various industrial parks, Kedah has the potential to become a global industrial hub.

“The move to introduce the Express Construction Permit known as E10 clearly indicates Kedah’s aspiration to be an ideal destination for global business expansion,” he added.

He said Kedah has been making great advancements recently, proving that it is more than just a “Rice Bowl State” of Malaysia.

The E10 initiative speeds up the process of allowing investors to operate within a 10-month period from the average of 24 months.

“In fact, E10 was first implemented in Kedah, specifically by the Kulim Municipal Council and has been acknowledged by the Special Task Force to Facilitate Business (PEMUDAH) as an example of best practices that should be emulated by other states and local authorities,” he said.

Meanwhile, Arham said there are notable companies leveraging Kedah’s well-established infrastructure and network of experienced support services.

Among the companies that have set their footprint in Kedah are Intel, Risen Solar Technology, Infineon, First Solar, and Fuji Electric.

“These companies hold much promise for further collaborations and opportunities for our local businesses,” he said.

Source: Bernama

Kedah records RM9.7 bln total investments from Jan to June 2022 – MIDA


Content Type:

Duration:

Swedish medical products company, Mölnlycke Health Care AB (Mölnlycke) has opened a new surgical glove plant in Kulim Hi-Tech Park, Kedah with a total investment of 50 million euros (EUR 1= RM4.54).

In a statement, the Malaysian Investment Development Authority (MIDA) said that the new facility is part of Mölnlycke’s sustainability roadmap – WeCare, to meet the increasing demand for surgical gloves.

Spanning 29,164 square metres, the facility is fully equipped with cutting-edge automated glove production and packaging line, and is expected to create some 400 new jobs.

MIDA chief executive officer Datuk Arham Abdul Rahman said Mölnlycke’s new production facility in Malaysia is a mark of confidence in the continuous sustainable growth of the Malaysian economy and will be a boon for Malaysia to maintain its leadership position in the glove manufacturing sector.

“We are committed to supporting industry leaders like Mölnlycke and we hope to see the company grow to greater heights in the years ahead,” he said.

The new manufacturing plant was officiated by Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor, Swedish ambassador to Malaysia, Joachim Bergstrom and Mölnlycke chief executive officer Zlatko Rihter yesterday.

MIDA said Malaysia is core to Mölnlycke’s surgical gloves business, and the company currently has three other factories in the country, two of which are for the manufacturing of surgical gloves and another for packing.

With business in over 100 countries, Mölnlycke entered the Malaysian market in 1990 and currently employs over 2,500 Malaysians.

The new plant is part of Mölnlycke’s sustainability strategic roadmap that is aimed at creating shared values for all stakeholders, including contributing significantly to Malaysia’s sustainability goals, such as energy usage reduction, economic growth and innovation in infrastructure.

Source: Bernama

Mölnlycke opens surgical glove plant in Kulim Hi-tech Park


Content Type:

Duration:

The Malaysian Investment Development Authority (MIDA), together with the Kedah state government, will be promoting the state as an investment-friendly location through the MIDA Invest Series: Unfolding States Business Potential initiative. 

Invest Kedah Bhd chief executive officer Muhamad Mahazi Ibrahim said he would present the facilities provided by the state government, including strategic areas for investors to invest in, at the programme scheduled to take place tomorrow in Kuala Lumpur.

“We have industry, tourism, agriculture… we have more than 20 industrial sites. For example, in Kulim, Sungai Petani, Bukit Selambau, Gurun, Bukit Kayu Hitam and KRC (Kedah Rubber City). Those are all our industrial sites.

“I will inform tomorrow’s audience, consisting of embassy representatives, business chambers, and industry players, among others, and they will know what Kedah has to offer and what we have prepared,” he told Bernama today.

Regarding investments in the tourism sector, Muhamad Mahazi said Kedah is more focused on health tourism whereby investors have the opportunity to invest in the state to develop a private hospital in Langkawi in addition to Kulim where there is an industrial area which is the Kulim Hi-Tech Park (KHTP).

He said Kedah is trying to become an investor-friendly state by simplifying administrative matters such as land matters and also at the local authority level where there is an Express Construction Permit or E10 initiative that speeds up the process of allowing investors to operate within a 10-month period from the average of 24 months.

“Come to Kedah, we have everything to give to investors. A friendly, conducive state, the cost of living is cheap, Kedah itself is a green area, we want them (investors) to come and see our vast paddy fields,” he said.

Meanwhile, Kedah Industry and Investment Committee chairman Datuk Ku Abd Rahman Ku Ismail said Kedah recorded a total manufacturing investment of RM9.7 billion for the first six months of this year.

“We will offer our best to investors. For the first six months of this year, we are number one in manufacturing industry investment. 

“The manufacturing sector creates many job opportunities and we are confident that we are on the right track,” he said.

Source: Bernama

Kedah set to promote state as investment-friendly through MIDA Invest Series


Content Type:

Duration:

DATA centres are in vogue

Due to a growth of cloud computing, demand for data centres is growing exponentially and Malaysia is fast becoming a hub.

The Malaysian Investment Development Authority (Mida) is pursuing such investments.

Lim Bee Vian, Mida deputy chief executive officer (investment development) says: “The data centre colocation market has been witnessing very steady growth due to the ever increasing volume of data generated and the increased usage of Internet-based services.”

She cites the case of Microsoft Corp, which last year announced plans to establish its first data centre in the country to deliver cloud services locally.

Then came another Nasdaq-listed company, Chindata Group Holdings Ltd.

The company late last year announced the construction of its fourth hyperscale data centre in Johor, with an investment value of about Rm2.5bil over the next five years.

Malaysia has also attracted Hong Kong-listed GDS Holdings Ltd, which broke ground in Johor on April 25 this year for the development of a data centre with a total investment value of Rm1.38bil.

In the second half of this year, Google said it plans to include Malaysia as its new Google Cloud region, an investment that will involve a data centre.

More recently, YTL Power International Bhd, through its subsidiary, YTL Data Center Holdings Pte Ltd, said it is investing Rm1.5bil for the first phase of the YTL Green Data Centre Park in Johor.

Sea Ltd will become the anchor tenant for the YTL Green Data Centre Park.

Japan-listed Nippon Telegraph and Telephone Corp also has plans to invest over Us$50mil (Rm227mil) for its sixth data centre in Cyberjaya.

Mida’s Lim cites a report by Technavio, a market research firm, that says that the data centre market in Malaysia is expected to increase by Us$2.08bil (Rm9.43bil) from 2021 to 2026.

This translates to a compound annual growth rate of 15.72%.

But data centres are not without controversy.

Detractors point out a few problems with this type of investments coming into the country.

One concern regarding data centres, especially the hyperscale ones, is environmental-related.

This is because data centres tend to use up a lot of electricity as well as water.

“In Malaysia, our electricity and water tariffs are pretty low in comparison with many countries. So that’s why data centres like it here, ” says an industry observer.

However, he adds, “But is it right to bring in such investments that use up so much of our resources while not creating suf­ficient jobs.

“There is also the issue that almost all the hardware and software for data centres will be imported into the country.

“Furthermore, these projects don’t employ that many people as the data centres are largely software and artificial intelligence (AI) driven, ” he points out.

Notably, Singapore had in 2019 imposed a moratorium on the construction of new data centres.

Singapore’s senior minister of state, ministry of communications and information Janil Puthucheary said one of the reasons the moratorium was imposed was because data centres are “intensive users of water and electricity”.

This has led to neighbouring countries such as Malaysia and Indonesia benefiting as data centre investments went there.

However, earlier this year, Singapore removed the moratorium and is now welcoming the construction of new data centres again.

Puthucheary pointed out that there are new post-moratorium measures which are intended to “facilitate the calibrated growth of data centres that possess the best in-class technologies and practices for energy efficiency and decarbonisation”.

Mida’s Lim, though, disputes the theory that data centres do not create much employment.

”One of the benefits or spillovers of data centre projects in Malaysia is the creation of job opportunities,
” she says.

She says data centres not only create direct employment in facilitating the operation of the data centre which requires high-skilled, well-remunerated roles that require significant training and educational and professional qualifications, but also indirect employment.

These include construction-related jobs and the maintenance of the data centre infrastructure.

In regards to the acceleration towards digitalisation, Lim says: “Data centres are a critical digital enabler.”

According to her, the investing environment is evolving in Malaysia, making it totally different compared to years ago.

“Those days, Malaysia used to be heavily involved in manufacturing, ” she says.

“Now, there is more emphasis on services, ” she adds.

However, she says that currently the focus is on both services and manufacturing, as they complement one and another.

Source: The Star

Data centre investments – good or bad for Malaysia?


Content Type:

Duration:

The Malaysian Investment Development Authority (MIDA) has appointed Tan Sri Dr Sulaiman Mahbob as chairman effective Sept 3, 2022.

Ministry of International Trade and Industry (MITI) senior minister Datuk Seri Mohamed Azmin Ali said MIDA’s role demands a creative, innovative and comprehensive approach and it has to be competitive and resilient in order to attract quality and high-tech investments into the country.

“Indeed, Sulaiman’s appointment will provide a fresh perspective to raise MIDA’s dynamism, building on his invaluable expertise and vast experience, especially in the areas of economic planning, strategic business modelling, and global trend analysis,” he said in a MIDA statement today.

This is the second time Sulaiman has been elected as the chairman. His first stint was from 2009 to 2012. 

Sulaiman has a distinguished career in the public service, having served in various ministries and departments.

He is currently the chief executive officer of the National Recovery Council, a board member at   the Institute of Strategic and International Studies and Perbadanan Tabung Pendidikan Tinggi Nasional.

He is also Malaysian Institute of Economic Research chairman, and a board member at Perbadanan Insurance Deposit Malaysia and the Malaysian Communications and Multimedia Commission.

Sulaiman graduated with an economics degree at the University of Malaya and obtained his PhD at Maxwell School, Syracuse University, USA.

“A veritable thought leader in the fields of economic policy, public finance and development as well as on a broad range of subjects, Sulaiman has regularly articulated his views via op-eds and lectures at home and abroad,” MIDA said.

Source: Bernama

Sulaiman Mahbob appointed as MIDA Chairman effective Sept 3


Content Type:

Duration:

Malaysia has attracted RM123.3 billion (US$28.0 billion) worth of approved investments in the manufacturing, services and primary sectors involving 1,714 projects from January to June 2022 and 57,771 job opportunities are expected to be created in the country. 

In a statement today, the Malaysian Investment Development Authority (MIDA) said foreign direct investments (FDIs) remained the major contributor — at 70.9 per cent, or RM87.4 billion (US$19.9 billion) — while investments from domestic sources contributed 29.1 per cent amounting to RM35.9 billion (US$8.2 billion).

In this period, the services sector assumed a significant role in driving the country’s economic recovery, accounting for 63.3 per cent of total approved investments with RM78.0 billion (US$17.7 billion) from 1,351 projects.

This translates into a 48.8 per cent rise against the RM52.4 billion (US$12.6 billion) worth of investments for the first six months a year ago, the statement said.

A total of 22,569 new jobs are expected to be created in the services sector for 2022, the statement said.

The manufacturing sector came next, with RM43.1 billion (US$9.8 billion) worth of approved investments, accounting for 34.9 per cent of total approved investments versus RM75.8 billion (US$18.3 billion) for January-June 2021.

MIDA cited a mega project approval for the high total approved investments in the manufacturing sector in the 2021 period.

Of the total FDIs approved, MIDA said China dominated with investments totalling RM48.6 billion (US$11 billion), followed by Germany (RM9 billion) (US$2 billion), Singapore (RM6 billion) (US$1.4 billion), Brunei (RM5.1 billion) (US$1.2 billion), and The Netherlands (RM4.1 billion) (US$900 million).

For state-approved projects, MIDA said five major states — Johor, Selangor, Sabah, Kedah and Penang —  contributed RM103.5 billion (US$23.5 billion), or 83.9 per cent of the total investments approved.

 International Trade and Industry (MITI) Senior Minister Datuk Seri Mohamed Azmin Ali said Malaysia is on the right trajectory to secure more high-quality, high-impact and capital-intensive projects, with services being the economy’s key growth driver and the largest contributor for approved investments for the first half of this year. 

“In maintaining the momentum, MITI will continue to strengthen the country’s competitiveness by developing economic complexity, nurturing a strong industrial ecosystem with innovation intensity, enhancing inclusivity by creation of high-income jobs and promoting opportunities to participate in the regional and global supply chains. 

“Driven by the National Investment Aspirations, we will intensify our focus towards sectors such as the digital economy, electrical and electronics, pharmaceutical, chemical and aerospace with significant economic potential and sustainable long-term growth,” he said.

MIDA said that the government has lined-up strategic and focused trade and investment missions targeted to capture investments in high technology, innovation and research-driven industries that will complement and further strengthen the Malaysian industrial ecosystem.

MIDA said that foreign investments made up the largest portion, recording RM50.4 billion (US$11.5 billion), or 64.6 per cent of total approved investments for the services sector, while the remaining 35.4 per cent, or RM27.6 billion (US$6.3 billion) were from domestic sources.

Source: Bernama

Malaysia attracts RM123.3 bln worth of approved investments for Jan-june 2022 period — MIDA


Content Type:

Duration:

Malaysian Investment Development Authority (MIDA) has partnered AP Moller-Maersk (Maersk) to drive high-quality investments into Malaysia, contributing to the growth and development of the supply chain sector in the Malaysian economy and boosting it as one of the logistics hubs in ASEAN.

MIDA investment promotion and facilitation deputy chief executive officer Sivasuriyamoorthy Sundara Raja said both parties would work together to attract high-tech and high-impact investments in sectors including automotive, electrical and electronics, machinery and equipment, medical devices, aerospace, renewable energy and consumer technology.

“The collaboration with Maersk will bring more targeted global investments into Malaysia through strategic and value-added engagement approach to multinational companies,” he said during the MIDA-Maersk memorandum of understanding (MoU) and strategic partnership to promote investments in Malaysia signing here today. 

He also said that by leveraging Maersk’s capabilities in integrated logistics, the strategic partnership could transform Malaysia into a regional logistics hub in ASEAN, further boosting infrastructure development and free trade.

“I hope that making full use of services provided, it will attract more manufacturing or trading companies, particularly multinational companies, into Malaysia,” he said.

He noted that MIDA has also facilitated Maersk’s International Integrated Logistics Services (IILS) status application, which will be only granted to logistics companies that were capable of offering, as a single entity, regional or global integrated and seamless door-to-door logistics services, along the value chain.

“With the approval of the IILS status, Maersk will now be issued the Freight Forwarding Agent and Customs Agent licence by the Royal Malaysian Customs Department and can undertake freight forwarding activity by itself,” he said. 

Currently, Maersk has seven warehouses in Peninsular Malaysia for their consolidation and fulfilment activities with a capacity of up to 68,000 square metres, with over 300 staff members in 12 locations nationwide.

Sivasuriyamoorthy said the logistics industry has grown rapidly in Malaysia in recent years amidst the COVID-19 pandemic and it is expected to reach US$55 billion by 2026 at a compound annual growth rate (CAGR) of over four per cent.

Meanwhile, Maersk Thailand, Malaysia and Singapore area managing director Rupesh Jain said the collaboration with MIDA would bring more targeted global investments to Malaysia and provide an integrated supply chain solutions through a value-adding engagement approach to multinational companies, while facilitating their investment entrance or expansion in the country. 

Source: Bernama

MIDA partners Maersk to drive high quality investments into Malaysia


Content Type:

Duration:

Terengganu has recorded a total investment of RM2.3 billion with 29 manufacturing projects approved from 2017 to June 2022, said Malaysian Investment Development Authority (MIDA) deputy chief executive officer, investment promotion and facilitation, Sivasuriyamoorthy Sundara Raja. 

In his welcoming speech, he said more than half of these investments were from foreign sources, recording a total of RM1.27 billion. 

“These projects have been instrumental in creating over 1,727 job opportunities, mainly in the fields of petroleum products (including petrochemicals), chemicals and chemical products, non-metallic mineral products, wood and wood products, as well as machinery and equipment.

“Additionally, from January to March 2022, investments worth RM7.2 million were approved, in the food manufacturing and wood and wood products industries,” he said at the MIDA Invest Series: Unfolding States Business Potential – A Briefing by Invest Terengganu here today. 

Sivasuriyamoorthy said MIDA was pleased to see notable companies leveraging Terengganu’s well-established infrastructure and network of experienced support services.

He said among the companies are JXR Manufacturing Sdn Bhd, CJ Bio Malaysia Sdn Bhd, Kemaman Bitumen Company Sdn Bhd, Arkema Thiochemicals Sdn Bhd, Encompass Industries Sdn Bhd and Eastern Steel Sdn Bhd.

“These companies hold much promise for further collaborations and opportunities for our local businesses.

“MIDA will continue to work closely with companies and businesses to provide a more conducive business environment to increase growth opportunities,” he added. 

Meanwhile, Terengganu state committee chairman for trade, industry, regional development and administration wellbeing Datuk Tengku Hassan Tengku Omar said Terengganu has been making great strides forward recently with the Kerteh Biopolymer Park, a bio-economy hub for specialty chemicals that spans over 140 hectares with both Phase 1 and Phase 2 fully taken up.

He said the third phase of the park opened last year to accommodate growing demand from investors. 

“To date, the total accumulated investment in Kerteh Biopolymer Park has increased to RM5.6 billion, with more than 5,000 employment opportunities created for the people of Terengganu.

“Terengganu has committed to improve economic growth by adding more industrial parks from the current 25 industrial areas covering a total of 4,158.26 hectares inclusive of Kerteh Terengganu Industrial Park, Pulau Kerengga Industrial Park and Terengganu Silica Valley,” he said. 

Tengku Hassan said this is another step towards making sure that there are good prospects not only now but in the future in Terengganu.

Source: Bernama

Terengganu records RM2.3 bln investments from 2017-June 2022 – MIDA


Content Type:

Duration:

wpChatIcon