MIDA approved 34 manufacturing projects worth RM3.1 bln in Jan-Sept 2019

The Malaysian Investment Development Authority (MIDA) had approved 34 manufacturing projects worth a total of RM3.1 billion involving companies from the European Union (EU) countries in the first nine months of 2019.

The investments were expected to create 2,782 jobs, MIDA said in a statement today.

On Jan 14, the investment authority held a networking event involving EU chambers, associations and embassies.

Forty representatives from Austria, Belgium, Czech Republic, France, Italy, Ireland, Germany, Norway, United Kingdom (UK), The Netherlands, Russia, Sweden, Switzerland and Spain offices in Malaysia attended the event.

“Our next networking event, which will be organised soon, will be with the chambers and associations from the Americas, Oceania and Asia Pacific region,” said MIDA’s chief executive officer, Datuk Azman Mahmud.

Moving forward, MIDA said it would be organising a series of trade and investment (T&I) missions, as well as working visits to Spain, Switzerland, Germany, UK and France this year.

The T&I missions would also include countries such as Japan, South Korea, China, India, New Zealand, Saudi Arabia, United Arab Emirates and the United States.

As of September 2019, MIDA has approved 2,366 manufacturing projects worth RM131.4 billion with participation from EU countries, which created 271,712 jobs.

Major European companies that have operations in Malaysia include STMicroelectronics, Infineon Technologies, Acerinox, Dyson Manufacturing,
Novartis, Osram Opto Semiconductors, Aker Solution, and B.Braun Medical.

Source: Bernama