The Licensing Officer of the Ministry of International Trade and Industry (MITI) has agreed to grant an extension of the project implementation period for companies, which have been accorded Manufacturing Licences under the Industrial Coordination Act, 1975. This is part of the pro-active measures undertaken by the Government in ensuring that the Malaysian economic sectors remain competitive despite the current COVID-19 pandemic.
Under the normal procedure, licensed companies are required to implement their approved projects within a period, as stipulated in their Approval Letter of Manufacturing Licence. With the implementation of this relaxation mechanism, an approved manufacturing company will be automatically given an extension of 12 months to implement their projects. The 12-month extension period will commence from the end date of the implementation period stated in the approval letter.
This automatic extension shall only be applicable and available to companies that have obtained Interim Approvals or Manufacturing Licences under the Industrial Coordination Act, 1975 from MITI, and have yet to implement their projects.
To enjoy this automatic extension, companies are required to apply to the Malaysian Investment Development Authority (MIDA), a government agency under MITI, by scanning the QR Code provided herewith. Companies can submit their applications to MIDA from 16 June 2020 until 31 May 2021.
The Government hopes that this measure will support and stimulate the growth of the manufacturing sector that has been affected by the pandemic.
About MIDA MIDA is the government's principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram and Facebook, LinkedIn and YouTube channel