MIDA has undertaken many initiatives aimed at enhancing the domestic investment landscape. One of the initiatives is MIDA Invest Series, aims to showcase the distinctive qualities and benefits of each state in Malaysia, presenting a range of investment prospects. MIDA believes through this platform, the State Government can effectively communicate the latest advancements, state’s economic development and investment opportunities within their respective regions to the business community.

On 23 October 2023, MIDA and the Perak State Government jointly organised the “Invest Series Perak: Unfolding Its Business Potentials”. The goal of the event is to promote strategic and high-impact projects in the State of Perak to potential investors and MIDA is delighted to note that it has attracted the interest of over 250 participants from various industries, including stakeholders such as industry leaders, government officials, and entrepreneurs.

Setting the stage for this dynamic gathering was Datuk Wira Arham Abdul Rahman, the Chief Executive Officer of MIDA. In his welcoming remarks, he underscored Perak’s immense potential to drive investments and job creation, particularly in the manufacturing, agriculture and tourism sectors.

Noteworthy is, Malaysia’s   remarkable achievement of RM132.6 billion in approved investments for the first half of 2023 across the manufacturing, services and primary sectors. While for Perak, as of 30 June 2023, the state has garnered over RM22.3 billion in realised investments from 283 manufacturing projects, generating more than 22,000 jobs.

The highlight of the event was the keynote address by YAB Dato’ Seri Saarani Mohamad, Menteri Besar Perak, who not only graced the occasion as the guest of honour but also shared insights into the ongoing efforts to attract investments to the state.  His commitment to fostering conducive business environment was evident, with plans to introduce incentives and reduce obstacles for investors.

Notable, he highlighted the significance of the Automotive High-Tech Valley (AHTV) in Tanjung Malim, Perak, which is expected to accelerate the Malaysian automotive industry, attracting investments totaling RM32 billion over the next decade and creating thousands of job opportunities. It aims to position Malaysia as a regional leader in the production of next-generation vehicles.

Furthermore, the announcement of a new High-tech Industrial Hub in Kerian, Perak, as part of the Belanjawan MADANI 2024 by Prime Minister, YAB Dato’ Seri Anwar Ibrahim, is set to bolster high-technology and capital incentive projects, contributing significantly to the state’s economic growth. Perak is actively shaping its economic landscape with the development of  four (4) new industrial parks; Silver Valley Technology Park, Perak Halal Industrial Park (HiP), Lumut Maritime Industrial City (LuMIC) and Ipoh Raya Integrated Park. These parks are designed to provide an enabling business environment for investors, further enhancing Perak’s economic growth.

The success of the Perak Invest Series this year demonstrated the state’s appeal to investors. The Malaysian Government, through MITI and MIDA, is committed to both attracting foreign direct investment (FDI) and nurturing domestic direct investment (DDI) within the state.