MIDA organised the Domestic Investment Seminar Series I (Central Region) 2022 on 26 July 2022 in Berjaya Times Square, Kuala Lumpur. Important representatives from the business community attended the event, and acquired pertinent information for their businesses. Although physical events were unable to be organised for the past two years due to the volatile situation caused by COVID-19 in the region, it is encouraging to note that such seminars were still being conducted virtually or in hybrid format. There were 800 participants in total attended the Domestic Investment Seminar, whereby 500 attended physically while 300 attended virtually.
The highlight of the event was a luncheon talk given by Senior Minister and Minister of International Trade and Industry (MITI) YB. Dato’ Seri Mohamed Azmin Ali. The National Chamber of Commerce and Industry Malaysia (NCCIM) President Tan Sri Dato’ Low Kian Chuan, who is also the President of the Associated Chinese Chamber of Commerce and Industry Malaysia (ACCCIM), delivered the opening remarks.
The Seminar received encouraging feedback from the business community. MIDA’s briefing provided participants with information on investment facilities offered by the government as well as initiatives to build and sustain the capabilities of domestic companies towards accelerating business recovery from the impact of the pandemic. During the breakout sessions, experts from various organisations shared insights on government assistance initiatives in technology adoption, funding and financial aid, green technology, talent development, and market access.
The sessions were moderated by representatives from SME Association, the Malay Chamber of Commerce Malaysia (DPMM), the Malaysian Associated Indian Chambers of Commerce and Industry (MAICCI) and the Malaysia Technology Development Corporation (MTDC). Sensata Technologies, Tonasco Malaysia, Cyberview Sdn. Bhd., SIRIM Bhd., Federation of Malaysian Skill Development Centre (FMSDC), Universiti Teknologi Malaysia’s Sustainable Industrial Revolution and Innovation (SIRI-UTM), Aerodyne, Bank Islam, United Overseas Bank (UOB), Business Financing Guarantor Company and MTDC also shared their insights, knowledge and experiences with the business community in their respective industries.
Dato’ Seri Mohamed Azmin bin Ali, Senior Minister and Minister of International Trade and Industry of Malaysia
The disruptions caused by COVID-19 not only posed a threat to the reconfiguration of global supply chains but also accelerated the process of digitalisation and use of technology by companies. These include encouraging companies to use factory automation to transform brick-and-mortar hubs into “intelligent factories” to enhance flexibility and maximise efficiency and growth.
MIDA continued its initiatives this year through domestic investment virtual seminars, engagement with national associations and chambers of commerce, the running of industry linkage/supply chain programmes, and via the Domestic Investment Coordination Platform (DICP). MIDA also facilitated business-matching sessions between anchor companies (MNCs) and potential local suppliers/providers within specific industries, providing support platforms for the realisation of Government initiatives and facilitation in promoting Domestic Direct Investment (DDI).
To better serve local industry players, MIDA through the DICP coordinates and arranges networking sessions between companies and potential funders and technology providers in its aim to bridge the financial and technological gaps by establishing strategic collaborations and joint ventures among financial institutions, equity firms and technology providers.
Additionally, the SME Investment Desk in MIDA state offices facilitates local small and medium-sized enterprises (SMEs). Awareness briefings are conducted to alert SMEs on the various government facilitation and assistance programmes available in Malaysia. Through its digital platforms, MIDA also provides prospective investors with comprehensive information to assist them in the establishment of businesses in Malaysia. The i-Incentive portal for example, provides access to more than 130 investment incentives offered by various ministries and agencies.
In light of the Government’s Environmental, Social and Governance (ESG) commitments, the implementation of sustainable practices will warrant a more substantive shift towards technology, particularly on automation. Moving forward, strategic measures to strengthen promotion of domestic investment under the Twelfth Malaysia Plan (12MP) and the National Investment Aspirations (NIA) include intensifying technology acquisition support for Malaysian-owned companies and scaling up local companies to achieve international standards.
For more information on the upcoming domestic seminars, please contact MIDA’s Domestic Investment Division.
L-R – Datuk Mohd Najib Dato Ibrahim (Cyberview MD), Datuk Arham Abdul Rahman (MIDA CEO), YB. Dato’ Seri Mohamed Azmin bin Ali (YBMK MITI), Tan Sri Low (President NCCCIM), Dato’ Ramesh Kodammal (Council Member MAICCI), Mr. Jacob Lee Chor Kok (FMM VP), Mr. Lai Yaeh Tat (National Vice President, SME Association Malaysia).