The Malaysian Investment Development Authority (MIDA) signed a Memorandum of Understanding (MOU) with the United Overseas Bank Malaysia Bhd (UOB Malaysia) on 10 January 2020 to attract more foreign direct investments (FDI) into high value-added sectors. The signing ceremony was witnessed by MIDA Deputy Chief Executive Officer (CEO) I, Mr. Arham Abdul Rahman and Mr. Wong Kim Choong, CEO of UOB Malaysia.
UOB Malaysia has always been among MIDA’s supporting organisations. The Bank’s Foreign Direct Investment Advisory team, in particular, have been working with MIDA to ensure that investors not only get easy access to the necessary financial services but to make well-informed investment decisions while conducting businesses across various markets globally. With this MOU in place, both parties will collaborate on attracting global companies to contribute positively to Malaysia’s economy through sustainable investments.
In line with nation’s agenda to drive more quality investments for Malaysia, this partnership will target high value, high technology and high impact investments from the key priority industries such as electrical and electronics (E&E), machinery and equipment (M&E), medical devices, aerospace, renewable energy and consumer technology. UOB Malaysia and MIDA will be jointly organising a series of roadshows across key focus markets such as China, ASEAN and Japan to position Malaysia as a viable investment destination within the region.
This partnership will be instrumental in MIDA’s efforts to promote the development of Malaysia’s industrial ecosystem, encourage the transfer of technology and knowledge to local companies as well as create opportunities to train a highly-skilled Malaysian workforce. MIDA, as the principal investment promotion agency of the country, will continue working with reputable organisations such as UOB Malaysia to further propel investment activities in Malaysia.