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PM: National Investment Aspirations set to attract strategic investments in Malaysia

PM: National Investment Aspirations set to attract strategic investments in Malaysia

02 Nov 2021

The Ministry of International Trade and Industry (MITI) is drafting the new National Investment Aspirations (NIA) to attract strategic investments with high-value economic impact.

Prime Minister Datuk Seri Ismail Sabri Yaakob said this is to ensure that Malaysia remains relevant as a trade partner and preferred investment destination.

“This will support and promote the integration between local industries and supply chains regionally and globally,” he said at the Industry Excellence Award 2020 organised by MITI here tonight.

Ismail Sabri said the government realises that if Malaysia wants to have better access to the international markets especially the United States and European Union, the products exported must comply with the predetermined environmental, social and governance (ESG) standards.

In that regard, he said, the government will strengthen the ESG-based approach in line with the sustainable and green growth agenda.

“We will be left behind if we adopt a lackadaisical attitude and procrastinate in efforts to incorporate the ESG elements,” he said.

The prime minister also said he is proud of the effectiveness and impact of the Public-Private Partnership Covid-19 Industry Immunisation Programme (Pikas) coordinated by MITI.

Pikas, he said, has contributed significantly to government efforts to boost industry workers’ immunisation and reduce the risk of workplace clusters forming.

Ismail Sabri said the government appreciates the industry’s cooperation to ensure the success of the vaccination programme as a means to increase protection and prevention.

In that regard, the prime minster said, he and the Cabinet members are committed to sustaining the economic recovery agenda for the well-being of the Malaysian Family (Keluarga Malaysia).

Meanwhile, Senior Minister and Miti Minister Datuk Seri Mohamed Azmin Ali said his ministry will continue to strengthen the country’s economic fundamentals through the implementation of trade and investment policies which are open, transparent and business-friendly.

“This includes efforts that are being undertaken by the government to ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and Regional Comprehensive Economic Partnership (RCEP).

“The government will continue to target high quality, advanced technology-oriented investments that can generate job opportunities for the Malaysian Family guided by the NIA,” he said in his welcome address at the event.

The Industry Excellence Award is organised once every two years to recognise companies that demonstrate excellence performance and to encourage companies to continue improving the products and services offered.

Source: Bernama