Malaysia Launches New Funds to Drive Automation, Digitalisation, and Sustainable ESG Practices
Kuala Lumpur, 9 October 2023 – The Malaysian Investment Development Authority (MIDA) is proud to announce the launch of new funding facilitation initiatives aimed at catalysing Malaysia’s industrial growth and fostering economic development. These initiatives include the Domestic Investment Accelerator Fund (DIAF), the MADANI Smart Automation Grant (SAG MADANI) and the Foreign Investment Accelerator Fund (FIAF), which are set to play a pivotal role in advancing Malaysia’s economic landscape.
DIAF and SAG MADANI have been strategically designed to offer a variety of tailored solutions that assist in the development of high-value economic activities for local manufacturers and service providers. They also encourage our local businesses to upgrade their capabilities and expand their scope of operations, aligning with Malaysia’s commitment to fostering innovation, automation, digitalisation, and the adoption of sustainable ESG practices.
MIDA also steadfastly centres its efforts on prioritising targeted and selective investments that yield high quality and high impact from foreign sources. In line with this commitment, FIAF is tailored for Multinational companies (MNC) operating in Malaysia to facilitate the seamless transfer of cutting-edge know-how within the high-technology sector through research and development (R&D) initiatives and comprehensive training activities. This strategic approach is poised to nurture a highly skilled and high-income local workforce while preserving Malaysia’s competitiveness in an evolving global industrial landscape.
Minister of Investment, Trade and Industry (MITI), YB Senator Tengku Datuk Seri Utama Zafrul Aziz, emphasised, “The realisation of the New Industrial Master Plan 2030’s vision to transform Malaysia’s industry – characterised by innovation, technology and economic complexity – requires strong enablers, one of which is funding. To that end, MIDA’s newly launched funds are among the first concrete steps to support our industries in upgrading their capacity for higher value economic activities and facilitating knowledge transfer from foreign investors to domestic companies. By nurturing local talent, fostering partnerships, and promoting technological advancement, we are not just catalysing sustainable economic growth; we are also setting the stage for Malaysia to be at the forefront of the global industrial landscape by 2030 and beyond, as well as ensuring the prosperity of our companies and our people.”
Datuk Wira Arham Abdul Rahman, CEO of MIDA, affirmed, “DIAF, FIAF and SAG MADANI are more than just funds; they are powerful catalysts propelling our nation towards the vision of a sustainable and dynamic industrial ecosystem. Our shared mission is to cultivate a thriving economic landscape, and with these initiatives, we are nurturing a brighter future for Malaysia. With the support of MIDA, these funds will empower businesses especially local SMEs and Mid-Tier Companies to innovate, expand, integrate in the technologically evolving global supply chain and actively contribute to our nation’s economic progress.”
MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, 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 21 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 X, Instagram, Facebook, LinkedIn, Tik Tok and YouTube.
Ms. Surayu Susah
Director of Strategic Planning & Policy Advocacy (Manufacturing)
Tel.: + 603-2267 6773
Email: [email protected]