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Malaysia's move to break the chain of infections through the implementation of the Movement Control Order (MCO) beginning 18 March 2020 is proving to be effective with Malaysia handling the situation relatively well. In tandem, to ensure the resilience of the country's economy, most of the economic sectors have been allowed to operate subject to strict adherence to health and safety guidelines.
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The Malaysian Investment Development Authority (MIDA) participated as one of the panellists in the webinar entitled ‘Post Covid-19 Economic Situation Prediction in Malaysia’, organised by the Chinese Enterprises Chambers of Commerce in Malaysia (CECCM) on 15 May 2020. The session attracted a total of 14,200 views on CECCM, and the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM)’s Facebook pages.
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The COVID-19 pandemic has proven that digitalisation and automation is a necessity to ensure business sustainability. At the webinar session entitled “COVID-19: A Catalyst for Malaysia’s Industrial Revolution (IR) 4.0”, organised by the British Malaysia Chamber of Commerce’s (BMCC) webinar on 22 May 2020, Mr. Sivasuriyamoorthy Sundara Raja, Executive Director of Investment Promotion, MIDA updated the participants on investment opportunities in the country and Malaysia’s journey towards embracing the new normal with IR4.0.
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Russia is blessed with vast natural resources such as oil and gas, iron and steel as well as wood and forestry. Today, Russia is among the world's leading producers of oil and natural gas and a top exporter of metals such as steel and primary aluminium. Russian companies are also trendsetters of technology in niche industry segments such as aerospace, energy generation, machinery and equipment, weapon and military, given their intense focus on research and development activities.
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Globally, SMEs play a significant role in contributing to national GDP growth, employment and innovation. In Malaysia’s context, SMEs represent 90 per cent of business establishments. They also account for 65 per cent of the country’s employment and contribute approximately 40 per cent to the country’s GDP.
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Numerous countries around the world are implementing measures to manage COVID-19 to keep their population safe. In Malaysia, the first COVID-19 case was reported on 25 January 2020. The Government took proactive actions to curb the diseases and announced the Movement Control Order (MCO) beginning 18 March 2020. The MCO, initially scheduled for two weeks, is currently in its 4th phase until 12 May 2020.
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List of Critical Production Sectors Allowed to Continue Operations Subject to Conditions by the Ministry of International Trade and Industry (MITI)
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The outbreak of the coronavirus (COVID-19) has been declared a global health emergency, causing major disruptions across industries: travel, retail, manufacturing and technology for businesses. In light of this, pre-agreed contracts may become "commercially impossible" to perform.
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The Malaysia France Chamber of Commerce (MFCCI), organised a business luncheon with the Chief Executive Officer of the Malaysian Investment Development Authority (MIDA) on 10 February 2020 at Cyberview Lodge, Cyberjaya. The business luncheon was attended by H.E. Frédéric Laplanche, French Ambassador to Malaysia and around 100 existing French companies in Malaysia and Singapore.
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Conducted in two phases across the nation, the outreach programme will be an avenue for industry players to understand the Industry4WRD related programmes and incentives offered by the Government such as Readiness Assessment, Intervention Fund, Domestic Investment Strategic Fund (DISF) and Automation Capital Allowance (Automation CA).
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The Malaysian Investment Development Authority (MIDA) signed a Memorandum of Understanding (MOU) with the United Overseas Bank Malaysia Bhd (UOB Malaysia) on 10 January 2020 to attract more foreign direct investments (FDI) into high value-added sectors. The signing ceremony was witnessed by MIDA Deputy Chief Executive Officer (CEO) I, Mr. Arham Abdul Rahman and Mr. Wong Kim Choong, CEO of UOB Malaysia.
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The World Economic Forum (WEF) Annual Meeting 2020 took place from 21–24 January 2020 in Davos-Klosters, Switzerland. At this prestigious event, YB Datuk Darell Leiking, Minister of International Trade and Industry (MITI), together with the Malaysian Investment Development Authority (MIDA) and InvestKL delegation represented Malaysia.
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MIDA, through its Licensing and Incentive Compliance & Monitoring Section (PPPG) provides the aftercare services for manufacturing and services companies. According to the United Nations Conference on Trade and Development (UNCTAD), aftercare services is defined as the range of activities from post-establishment facilitation services to developmental support by the Investment Promotion Agencies to retain and encourage followon investment.
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YAB Tun Dr. Mahathir Mohamad, Prime Minister of Malaysia, visited Qatar from 11 until 14 December 2019. The Malaysian delegation included Foreign Minister, Economic Affairs Minister, Defence Minister and senior officials from various ministries and agencies
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YAB Tun Dr. Mahathir Mohamad led the Malaysian delegation visit toBusan and Seoul from 25 until 28 November 2019, in conjunction with the ASEAN – Republic of Korea Commemorative Summit. The Chief Executive Officer (CEO) of MIDA, Dato’ Azman Mahmud and officials from the Foreign Investment Promotion Division of MIDA accompanied YAB PM for the visit.
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Malaysian Investment Development Authority (MIDA), together with the Malaysia External Trade Development Corporation (MATRADE) organised the Trade and Investment Mission to Japan from 29 November – 4 December 2019. The mission, led by YB Datuk Darell Leiking, Minister of International Trade and Industry visited three cities, namely, Kobe, Nagoya and Tokyo. A total of 113 Malaysian delegation members consisted of Federal government officials, 6 representatives from the state government, regional development agencies and private sectors. The trade and investment mission aimed at enhancing investment and bilateral ties with Japan as well as intensifying business-to-business linkages between the private sector of both countries.
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For the first nine months of 2019, Malaysia recorded RM149 billion worth of approved investments in the services, manufacturing and primary sectors. This was 4.4% higher than the RM142.6 billion approved in the same period last year. These investments involved 4,025 projects and will create an additional of 93,841 job opportunities. The majority of the investments came from domestic sources, which contributed RM82.7 billion or 55.5% of the total investments. Foreign direct investments (FDI) represented 44.5% or RM66.3 billion. Total approved FDI in these three main sectors increased by 6.5% to RM66.3 billion in January-September 2019 from RM62.2 billion in the same period last year.
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Malaysia is built on a foundation of orderly systems and institutions that promote a business friendly environment, resulting in strongly anchored economic fundamentals. It is one of the most diversified economies in the world with the services, manufacturing and primary sectors providing the right balance to the economy. Additionally, being located in the heart of ASEAN, the 7th biggest market in the world, Malaysia is an attractive investment destination for global-minded investors.
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To nurture the growth of Budget 2020 themed, “Driving Growth and Equitable Outcomes Towards Shared Prosperity”, was announced by the Minister of Finance on 11 October 2019. The Budget is anchored on four thrusts.
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The escalating growth of the human population and the rapid evolution of heavy industrial sectors are significant contributors to energy demands. To fulfil this ever-increasing demand, current and future energy systems need to be costeffective, practical, reliable and sustainable, with low impact on the environment. For these reasons, there is a growing interest in hydrogen-based fuel technologies in recent years.
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With the rising trend of establishments of Centres of Excellence (COE) in Asia among multinational corporations (MNCs), Malaysia increasingly emerges as a popular choice of location for these operations. For many years, Malaysia has played an important role as a Regional Hub, offering strategic operations location within South East Asia, robust industrial ecosystem and a talented and multilingual workforce.
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As more trade deals are shifting towards the ASEAN region, Malaysia is gearing up to be the go-to place for trade. Malaysia’s trade value is steadily increasing amidst economic challenges and on-going trade tensions globally. According to MATRADE, in 2019, Malaysia recorded its largest trade surplus since 2009 valued at RM137.39 billion, an increase of 11 per cent compared to the previous period. Malaysia aims to continue this favourable trend, making it a preferred destination for investors and businesses.
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The two billion millennials, representing 25 per cent of the world’s population, are re-defining consumerisation. Based on a market research company, Growth from Knowledge (GfK) study found that 59 per cent of 20 to 29 years old and 57 per cent of 30 to 39 years olds agreed with the statement that “experiences are more important than possessions”. Millennials prefer to socialise in group engagement at a fraction of the cost instead of investing in personal highly expensive virtual reality applications such as Virtual Reality (VR) headsets and play stations. They are favourable to ‘immersion rooms’ that provide space and technology for a hyper-real, smooth journey into VR which cannot be achieved at home.
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