NIAs framework needs to enhance the value proposition of investing in Malaysia — Economist
25 Apr 2021
KUALA LUMPUR: The National Investment Aspirations (NIAs) framework should strengthen the country’s value proposition that can be offered to foreign investors who wish to participate in the country’s long-term growth stories.
Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said Malaysia has always been a pro business and investor-friendly country, as reflected in its policies via tax incentives, economic zoning, and various government agencies that are responsible to handhold incoming investors.
“On top of that, the state of basic infrastructure such as ports, airports, highways, electricity supplies, and telecommunication have been reliable and are able to facilitate the movement of goods and services in the most effective way.
“Not to mention that Malaysia is a peaceful country and multiracial whereby it is very unique in cultural aspects,” he told Bernama.
On Wednesday, Senior Minister cum International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said the Cabinet had approved the NIA, a forward-looking growth framework that would outline the basis for Malaysia’s investment policy reforms.
He said the NIA would be central to revitalising Malaysia’s investment climate, attracting high-quality investments into the country and creating high-income jobs, particularly post-Covid-19.
Mohd Afzanizam said Malaysia has what it takes to attract foreign investors.
“The country has a stronghold in the electric and electronics sector and since technology will likely to be integrated in the various aspects of people’s lives. Therefore, it is quite natural for the country to go into the downstream sector whereby there would be more research and development activities.
“And along the way, the demand for highly skilled workers would also rise as a result,” he added.