The National Economic Recovery Plan (PENJANA)
Enhancement of Domestic Investment Strategic Fund (DISF)
Positioning Malaysia as a Global Supply Chain Hub: MIDA Continues to Attract Investment from China
Malaysia is a progressive nation with a robust economy. Located in one of the fastest-growing economic regions in the world, the International Monetary Fund (IMF) projected our country to grow at a rate of 6.3 per cent in 2021 despite global economic uncertainties. This positions Malaysia as the fastest growing economy among our neighbours such as Indonesia, Thailand, the Philippines and Singapore.
B'SMART Contributes Tech Solutions for COVID-19 Global Fight
Many countries worldwide have started easing their strict movement control orders (MCO) due to the COVID-19 pandemic but various features of the pandemic life will continue to stay and unlikely to disappear anytime soon. Wearing a face mask and practising social distancing will be part of the world’s new normal measures, at least until a vaccine against COVID-19 is developed.
MIDA and Standard Chartered Malaysia Collaborate to Attract Targeted Global Investments
he Malaysian Investment Development Authority (MIDA) inked a Memorandum of Understanding (MOU) with Standard Chartered Malaysia on 11 June 2020. Both parties will further collaborate to attract targeted global investments within a higher value, impactful and technology-intensive investments, in the key priority sectors such as electrical and electronics, machinery and equipment, medical devices, aerospace, renewable energy and consumer technology. These sectors' ability in attracting quality investment augurs well for the country's economy as the market looks to get back in shape post the COVID-19 pandemic.
Sustaining Quality Investments in the New Normal
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.
National Chamber Of Commerce and Industry of Malaysia (NCCIM) Webinar with Dato’ Azman Mahmud, CEO of MIDA
The Malaysian Investment Development Authority (MIDA) organised a live webinar session with the National Chamber of Commerce and Industry of Malaysia (NCCIM) on 21 May 2020. The session, which featured a keynote address by Dato' Azman Mahmud, CEO of MIDA was joined by Tan Sri Datuk Ter Leong Yap, President, NCCIM; Dato’ Low Kian Chuan, Secretary General NCCIM; Mr Tan Weng Hock, Managing DirectorMalaysia, United BC Team Sdn. Bhd. (UBCT); Mr. Mohd Shazlan Bin Mohd Anwar, Group Managing Director, Virtual Instrument and System Innovation Sdn. Bhd. (VISI).
Malaysia: Opportunities Beyond the Pandemic
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.
COVID-19: A Catalyst for Malaysia’s Industry 4.0
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.
Malaysia’s Lighthouse Project: The Beacon of Malaysia’s Future Industries
Many companies are applying the Fourth Industrial Revolution initiatives in manufacturing. Still, few managed to integrate Industry 4.0 technologies at scale to escape from the inertia of “pilot purgatory”, thus unable to bring manufacturing innovation to realise significant economic and financial benefit. Since 2016, the World Economic Forum (WEF) in collaboration with McKinsey & Company (McKinsey) have been monitoring the progress of advanced manufacturing worldwide to identify leading organisations with key factors that differentiate them as the front runners of the Fourth Industrial Revolution – the “Lighthouses”.
Reactivating the Russian-Malaysian Cooperation
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.
Domestic Investment Coordination Platform (DICP): Facilitating SMEs in Acquiring Funding, Technology and Research Capability
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.
Initiatives by Malaysian Companies to Fight COVID-19
Malaysia: Mitigation Measures for COVID-19
Sailing Together in Rough Weather
According to the United Nations Conference on Trade and Development (UNCTAD), there will be a possible significant downward pressure on global FDI flows by -30 per cent to -40 per cent due to COVID-19. This is a potential outcome given the close, intricate inter-dependence of global value chains, directly affecting earnings of large multinational corporations (MNCs).
Malaysia’s Economic Stimulus Package: Manufacturing Sector
Malaysia’s Economic Stimulus Package: Services Sector
Exemption for Manufacturers of Selected Essential Products From the Movement Control Order (MCO)
List of Critical Production Sectors Allowed to Continue Operations Subject to Conditions by the Ministry of International Trade and Industry (MITI)
Malaysia Awarded the Most Vibrant Investment Ecosystem in Asia at World Business Angels Investment Forum
The WBAF 2020 event was held in Istanbul from 17-18 February 2020. This annual event represents the largest gathering of representatives from early-stage equity and investment markets, providing opportunities for start-ups and scale-up companies to pitch their businesses on a global fundraising stage.
Force Majeure : Expecting the Unexpected
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.
Business Luncheon with Dato' Azman Mahmud, CEO of MIDA, Organised by MFCCI
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.
Supporting SMEs in the adoption of Industry 4.0 - Industry4WRD Intervention Fund
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).
MIDA Signs MOU with UOB Malaysia to Attract Quality Investments into Malaysia's High Value-Added Sectors
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.
Seizing Opportunities at Davos : YBM MITI at World Economic Forum 2020
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.
Getting to Know the Licensing and Incentive Compliance & Monitoring (PPPG) Function of MIDA
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.
YAB Tun Dr . Mahathir Mohamad Visit to Qatar, 11 to 14 December 2019
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
Visit by YAB Tun Dr. Mahathir Mohamad to the Republic of Korea, 25 – 28 November 2019
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.
Trade and Investment Mission to Japan
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.
Approved Investments in January - September 2019 Create 93,841 Additional Jobs
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.
Trade and Investment Mission to Europe (The Hague, Netherlands and Stuttgart, Germany) 4-8 November, 2019
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.
Snapshots of Budget 2020
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.
PostInvest Promotes Ease of Doing Business
To nurture the growth of Foreign Direct Investment (FDI) and Domestic Investment (DI) in the country, MIDA - through its Post Investment and Infrastructure SupportDivision (PostInvest), provides ‘handholding’ and ‘problem solving’ services to assist companies’ investment journey in Malaysia.
Are Malaysians Ready for Future Jobs?
Malaysia’s industrialisation has shifted from job creation to becoming a developed nation by 2020. From 2006 to 2018, the government has approved more than 64,000 projects in various economic sectors with investment valued at RM2.2 trillion. These projects have created over 2 million job opportunities. Today, Malaysia has become one of the largest exporters in semiconductor devices, palm oil and furniture, and home to more than 5,000 multinational corporations.
Malaysia Continues to Attract Business Interest
Malaysia continues to sustain its investment growth momentum in the first half of 2019 (1H2019) despite the challenging global economic landscape and intense competition, with total investments of RM92.0 billion recorded in the services, manufacturing and primary sectors for 1H2019. These investments were from 2,554 projects and will potentially create 59,542 employment opportunities in the country.
Malaysia : The World's Best Country to Invest
The first quarter of 2019 indicated a positive start to the year, with approved foreign investments into Malaysia increased by 73.4% to RM29.3 billion from RM16.9 billion in the first quarter of 2018. This commendable performance could only be achieved with the conducive business climate within the country, which has not gone unnoticed by international observers.
Industrial Linkage Programme : Machinery and Equipment Industry
The machinery & equipment (M&E) industry assumes strategic importance to Malaysia's economy with its cross-cutting linkages across all economic segments. However, given the evolution of technology in the industry is moving at such a relentless pace, this presents Malaysian business leaders with challenges as well as opportunities to create new business ventures. For companies that are bold to embrace these new and upcoming technologies, there are a plethora of opportunities in robotics application, artificial intelligence (AI), machine learning and smart technologies that are waiting to be explored.
APEC 2020: Charting New Frontiers
Asia Pacific Economic Cooperation or better known as APEC, has grown into a dynamic engine promoting trade and economic growth in the Asia-Pacific region since its establishment in 1989. This inter-governmental forum comprising of 21 member economies was formed in response to the growing interdependence of the Asia-Pacific economies, regional trade blocs and establishment of new markets during the mid-1980s. Needless to say, APEC is still a very much relevant bloc in today's business world and exerts a significant influence across the global markets.
Malaysia Remains an Attractive Investment Destination: Recording Approved Investments of RM53.9 billion in Q1 2019
Malaysia has successfully attracted a total of RM53.9 billion approved investments in the manufacturing, services and primary sectors for the first quarter of 2019 (Q1 2019), an increase of 3.1% from the same period last year (RM52.3 billion). These investments are from 1,678 projects and are expected to generate more than 41,200 job opportunities for the country.
MIDA Facilitates Overseas Internship for Malaysian Students Abroad
Enhancing the students' employability has always been on top of the human capital development agenda of the Government. This is to ensure that they are industry-relevant, ready to enter the job market and ultimately able to contribute to the economic growth of the country. Various programmes are usually adopted by universities and colleges to increase the employability of their students such as internship, career awareness program, industry talk, curriculum embedment, and lecturer's attachment to industry.
Progress Updates on FHTP, OECD
MIDA's E-Newsletter in has introduced readers to the Forum of Harmful Tax Practices (FHTP) and its requirements in fulfilling Action 5: Countering Harmful Tax Practices More Effectively, Taking into Account Transparency and Substance. This edition aims to update readers on the current progress and incentive recipients' tax responsibilities.
MIDA Receives Top Investment Promotion Agency 2019 Award - Asia Pacific Category
MIDA has once again won the Top Investment Promotion Agency 2019 award in the Asia-Pacific National category by the Site Selection, together with the EDB Singapore. The agency won the same award in 2015 and 2016.
Strengthening Domestic Investment Landscape
Being an organisation half a century old, MIDA's priority remains the same. We are here to ensure that Malaysia achieves its goals and aspirations, creating wealth that translates to tangible benefits felt by all across Malaysia. In achieving these goals, based on the Eleventh Malaysia Plan, Chapter 8: Re-engineering economic growth for greater prosperity, the Government will precede the continuous effort to strengthen and enhance the country's domestic investment through MIDA, which also gives importance to domestic investment by engaging and facilitating with more domestic companies.