MIDA to elevate Malaysia’s standing on the world stage
18 Mar 2024
The Malaysian government’s recent strategic working visit to Germany and Australia, which resulted in potential investments totaling almost RM70 billion, demonstrates Malaysia’s adeptness in navigating the global investment landscape.
The Malaysian Investment Development Authority (MIDA) said it has been at the forefront of implementing strategies and initiatives aimed at improving Malaysia’s investment landscape.
By focusing on reducing bureaucratic hurdles, enhancing transparency, and ensuring a competitive and supportive environment for both domestic and international investors, MIDA has significantly contributed to this international recognition, it said.
“MIDA is dedicated to building upon this success by continually enhancing our services and support systems for investors,” said Datuk Wira Arham Abdul Rahman, chief executive officer of MIDA.
“Our goal is to not only maintain Malaysia’s position as a prime investment destination in Asia but also to elevate our standing on the global stage. We are devoted to making Malaysia the ultimate investment sweet spot by ensuring a more seamless and efficient investment process across the nation,” he said in a statement.
MIDA, in collaboration with MITI and other ministries and agencies at both federal and state levels, will continue to drive forward Malaysia’s investment agenda and ease of doing business, leveraging the country’s strategic location, political stability, robust infrastructure, and dynamic workforce.
“As Malaysia strides into the future, MIDA invites investors from around the globe to explore the diverse opportunities in the country that is not only strategically positioned but is also committed to fostering responsible and sustainable investments and building an inclusive economic landscape for the nation.”
Meanwhile, the recent working visit to Germany, led by the Prime Minister, Dtuk Seri Anwar Ibrahim, together with the Minister of Investment, Trade, and Industry (MITI), Tengku Datuk Seri Utama Zafrul Abdul Aziz, marked a significant milestone, with prospective investments amounting to RM45.4 billion.
A similarly fruitful mission to Australia resulted in commitments from Australian companies to invest RM24.5 billion.
MIDA regards the recent Global Opportunity Index (GOI) 2024 report by the Milken Institute, which ranked Malaysia as the best country in Asia for overall investment conditions, as a major achievement.
Globally, Malaysia is ranked 27th, higher than competitors from the region like Thailand and China.
MIDA said this accomplishment is seen as a turning point in the country’s economic development path.
According to the research, Malaysia is among the top 10 rising and developing nations in Asia, possessing a strong institutional structure and well-rounded strengths in the financial, regulatory, and economic domains.
Malaysia offers a much lower-risk investment environment that sets it apart from other growing Asian economies. It has outperformed its peers in all five categories of the Global Opportunity Index.
MIDA said this prestigious ranking is a direct reflection of the relentless efforts by the Malaysian Government, spearheaded by MITI, with MIDA playing a crucial role in enhancing the ease of doing business and smoothing out the investment process across the nation.
From extensive trade and investment missions to forging international partnerships, Malaysia’s concerted efforts are bearing fruit, unlocking potential investments worth billions, MIDA said.
Source: NST
