MITI identifies 5 main sectors under NIA initiative
24 Jan 2022
The International Trade and Industry Ministry (MITI) has identified five key sectors under the National Investment Aspirations (NIA) initiative that can attract more foreign investors to invest either in research and development or manufacturing facilities using new technologies.
The sectors are electrical and electronics, pharmaceutical, digital economy, aerospace and chemicals, said Senior International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali.
“These five sectors are among the new economic growth sectors identified when we drafted the NIA and they are in line with the NIA’s initiative to focus on high-impact and technological investments.
“This initiative will create quality and high-skilled employment opportunities for locals and strengthen the country’s competitiveness,” he told the media after attending the MITI and Agencies 2022 Assembly here today.
Earlier on in his speech, Mohamed Azmin said MITI is also committed to spearheading the environmental, social and corporate governance (ESG) in implementing the NIA.
“This ESG agenda, in particular, will have a major impact in respect of the automotive industry.
“In this regard, MITI will do its utmost to ensure we achieve the objectives of the National Automotive Policy and meet the net-zero Greenhouse Gas (GhG) emissions target by 2050 as outlined in the 12th Malaysia Plan,” he added.
To this end, Mohamed Azmin said the Electric Vehicle (EV) Task Force has been established to act as a platform to discuss the strategies and implement measures to drive the development of EVs and its entire ecosystem.
“MITI will continue to support the industry to realize the digital transformation and industrial revolution 4.0 through the New Industrial Masterplan 2022-2033 (IMP).
“Among the game-changers identified are Smart Manufacturing, Everything-As-A-Service and Next-Gen Mobility,” he added.