Working visit to Los Angeles and San Jose, United States of America (17-23 November 2021)
The Chief Executive Officer of MIDA, Dato’ Arham Abdul Rahman has completed a seven-day working visit (17-23 November) to Los Angeles and San Jose which targeted 11 high quality and strategic companies with confirmed investment plans into Malaysia. The working visit focused on business ventures by new companies with cutting edge technology as well as expansion and diversification projects by notable existing companies in Malaysia, especially in the electrical and electronics, and medical technology industries.
The MIDA delegation also engaged with several main suppliers and customers to anchor companies such as Intel, LAM Research, Jabil, and AT&S. These supporting entities are set to be high profile leads, completing the anchor company’s supply chain ecosystem in Malaysia should they decide to establish their presence in the country.
The working visit managed to shed some insight on the ever-evolving market in high-technology industries right from the heart of Silicon Valley, where giant tech companies are eager to increase their production capacities driven by the sudden boom of electronics demand post-Covid era. These companies implored MIDA to make a preemptive stand and take drastic measures in securing high capital and high technology projects, achievable only through strategic support by the Government in closing the infrastructure gap in the industry. More focus should be placed on the development of high-quality talent with robust technical skills and market-ready capabilities to serve the companies’ state-of-the-art facilities in the country.
Working visit to Republic of Korea (26-31 October 2021)
To further attract Korean investments, MIDA has recently conducted a strike force to Seoul, led by Mr. Sivasuriyamoorthy Sundara Raja, Deputy Chief Executive Officer, Investment Promotion and Facilitation. This initiative is part of the follow-up action with the potential Korean companies during the Trade and Investment Mission to the Republic of Korea (ROK) which has held on 31 March 2021. The visit involved a dialogue session with the Ministry of Trade, Industry and Energy (MOTIE), Republic of Korea, oneto- one meetings, factory visits and roundtable meetings with the potential investors.
One of the highlights was the dialogue session with the Ministry of Trade, Industry and Energy (MOTIE), Republic of Korea. During the dialogue, the Director General of MOTIE, Mr. Seo Karam said that “the initiative of MIDA’s One Stop Centre (OSC) is a timely initiative during this pandemic and has successfully encouraged many Korean companies to invest in Malaysia.”
“The Korean Government is fully aware of the National Investment Aspiration (NIA) policy under the 12th Malaysia Plan (12MP) which focuses on high technology, innovation-driven projects and we believe that quality Korean companies such as SK Nexilis and OCI Company Ltd. will continue to invest in Malaysia,” he continued.
In response to that, Mr. Sivasuriyamoorthy Sundara Raja shared that, “The Government of Malaysia is optimistic on the economic recovery given our high vaccination rate and the lifting of more restrictions on the economic and social sectors.”
He continued to reiterate that the Government of Malaysia is looking further in driving sustainable development efforts especially in introducing policies for the green economy to push for more renewable energy investment.
Working visit to United Arab Emirates and Turkey (13-23 November 2021)
MIDA recently concluded the working visit to United Arab Emirates (UAE) and Turkey, led by Mr. Ahmad Khairuddin Abdul Rahim, Deputy Chief Executive Officer, Investment Development. This working visit to both countries signifies MIDA’s continuous effort in attracting high value and high-tech investment into Malaysia. The working visit involved one-to-one meetings, site visits and roundtable discussions with potential investors and the local business chambers in Dubai and Istanbul.
The year 2020 and 2021 are important years for the UAE as Dubai continues to be the host for Expo Dubai 2020. Despite the pandemic, the expo anticipates a total of 25 million visitors. Malaysia is among the 192 countries that are participating in this expo, oficially themed ‘Connecting Minds, Creating the Future’. The Malaysia Pavilion is under the stewardship of the Ministry of Science, Technology and Innovation Malaysia (MOSTI) together with Malaysian Green Technology and Climate Change Corporation (MGTC) as the implementing agency. Malaysia’s participation in this expo reflects our commitment towards global cooperation and sustainable development.
The working visit to Dubai is part of MIDA’s continuous effort to seek for potential investments and re-engage with potential UAE companies following the previous Trade and Investment Mission held on 26 April – 4 May 2021.
With Dubai recognised as the region’s gateway to the Arab, Asian, and African markets, its transportation, logistics and retail industry has been known as important sectors for Dubai’s economy. Several engagements and visits to Dubai’s most prominent logistics and retail companies show that these companies are aggressively expanding their business networks and capabilities, and have selected Malaysia as their preferred global and regional hub.
UAE is undeterred by the global pandemic and aims to expand its hospitality and tourism brand into Malaysia as the global economy is moving towards the recovery phase.
The working visit in Turkey held from 17 to 22 November 2021 targeted industries with elements of high quality and technology investments. A series of meetings with the Turkish industry association, business chambers and selected Turkish companies were conducted as part of MIDA’s continuous efforts to promote Malaysia as the preferred investment destination in the region.
The meeting facilitated a fruitful exchange between MIDA and members of the Turkish associations and targeted companies to share on the investment and business opportunities in Malaysia. Notably, Malaysia and Turkey are members of the D-8 Organisation for Economic Cooperation, and are committed to utilise the long-established platform to leverage and boost economic and industrial development in both nations.