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Malacca a ‘key investment’ hub for MNC, says Mida

Malacca a ‘key investment’ hub for MNC, says Mida

Malaysian Investment Development Authority (Mida)
deputy chief executive officer II N Rajendran said from 2011-2013, the
state recorded investments of more than RM6.9 billion in the manufacturing
sector, with foreign investments at more than RM4.08 billion, compared to the
RM2.82 billion by domestic investors.

“For the first nine months of 2014, Melaka
attracted RM4.4 billion worth of investments in the manufacturing sector,
whereby 59.1% (RM2.6 billion) was from domestic sources, and 40.9% (RM1.8
billion) from foreign sources.

“A majority of the investments approved were for
transport equipment, electronics and electrical products, paper, printing and
publishing, textile and textile products,” he added.

He was speaking at the one-day seminar, titled,
“Grow With Us”, in Malacca on Tuesday.

The seminar is part of the outreach programmes of
Mida and the Malaysian Investment Development Finance Bhd (MIDF).

The seminars serve as a platform to encourage
interactions between the private sector and government to explore, evaluate and
execute swiftly the opportunities available in the country.

Rajendran also said most Malaysian companies are
now capable of meeting the stringent demands of original equipment
manufacturers (OEMs).

“Local players are further encouraged to utilise
the facilities provided by the federal government and agencies, including the
various financial assistance available with the MIDF, to upgrade their
services, capabilities and production quality to meet the requirements of high
value-added and advanced technologies,” he added.

In a statement by Mida, Rajendran said the
organisation, working with the MIDF, will continuously organise seminars to
enhance the domestic investment landscape.

As of December 2014, Mida had approved RM631.8
million from the Domestic Investment Strategic Fund grant for 148 projects with
investments of RM6.3 billion.

A total of 11 companies located in Malacca received
grant approvals of RM42.9 million and were involved in the aerospace,
automotive, electronics and electrical, machinery and equipment and
pharmaceutical industries.

18 February 2015
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