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Milken Institute’s recognition highlights Malaysia’s economic policies’ effectiveness – MIDA

Milken Institute’s recognition highlights Malaysia’s economic policies’ effectiveness – MIDA

15 Mar 2024

The Milken Institute’s recognition underscores the effectiveness of Malaysia’s economic policies and the concerted efforts of all stakeholders, including government agencies, industry players, and the investment community, said the Malaysian Investment Development Authority (Mida).

According to its Global Opportunity Index (GOI) 2024 report, Malaysia was recognised as the leading nation among Asia’s emerging and developing nations in terms of overall investment conditions.

Mida said Malaysia’s commendable global rank of 27, surpassing regional competitors like Thailand and China, marks a significant milestone in the nation’s economic development journey.

“The prestigious ranking was a direct reflection of the relentless efforts by the government, spearheaded by the Investment, Trade, and Industry Ministry (Miti), with Mida playing a crucial role in enhancing the ease of doing business and smoothing out the investment process across the nation,” it said in a statement today.

Notably, the recent strategic working visit to Germany marked a significant milestone with prospective investments amounting to RM45.4 billion, coupled with a similar mission to Australia, which resulted in commitments from Australian companies to invest RM24.5 billion.

Mida chief executive officer Datuk Arham Abdul Rahman said the investment promotion agency is dedicated to building upon this success by continually enhancing its services and support systems for investors.

“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 line with the sentiments expressed by Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Mida reiterated its commitment to addressing the key pain points along the investor’s journey and optimising the investment climate in Malaysia.

It said future initiatives will focus on digitalisation, sustainability, and innovation, ensuring Malaysia remains attractive to sectors pivotal for future economic growth and in sync with current policies, namely the New Industrial Master Plan 2030, the National Energy Transition Roadmap, and the 12th Malaysia Plan.

“Mida’s strategic approach includes enhancing partnerships, both locally and internationally, to foster a collaborative investment environment.

“These efforts are part of a broader national strategy to secure Malaysia’s position as the gateway to Asia for investors seeking growth, innovation, and sustainability,” it said.

Mida, in collaboration with Miti and other ministries and agencies at both the 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.

Source: Bernama