Keyto MY Sdn Bhd’s new fluid manufacturing facility in Batu Kawan, Penang, is set to enhance Malaysia’s industrial capabilities and diversify its high-tech manufacturing sector. 

Malaysian Investment Development Authority (MIDA) said the facility is projected to generate RM65 million in sales revenue over the next three years, reflecting the sector’s robust growth potential. 

MIDA chief executive officer, Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, said the launch of Keyto MY’s facility represents a significant milestone for Malaysia’s economy and aligns with the New Industrial Master Plan (NIMP) 2030, which aims to drive industrial growth and technological advancement. 

“By focusing on high-precision components and fluid technology, this investment will not only attract foreign investments but also foster innovation, create high-quality job opportunities for Malaysians, and strengthen our position in the global value chain. 

“MIDA remains committed to supporting companies like Keyto MY in solidifying Malaysia’s position as a global leader in fluid technology manufacturing,” he said in a statement,

According to the joint statement, the 38,104.24-square-foot facility will produce fluid management systems and precision components critical for medical devices, life science instruments, and environmental monitoring. 

The first phase will focus on manufacturing fluid management solutions, including high-performance pumps, valves, and fluid systems. 

“This positions Keyto MY as a key player in the region’s fluid technology supply chain, meeting rising demand across multiple industries,” it added. 

The plant will incorporate innovative technologies to maximise production efficiency, uphold rigorous quality control, and ensure sustainable manufacturing practices. 

Keyto MY is a subsidiary of Shenzhen Keyto Fluid Technology Co Ltd.

It leverages extensive expertise, industry knowledge, and a global perspective to drive both local and international business success. 

Source: Bernama

New Keyto My plant to advance Malaysia’s high-tech industry – MIDA

The Ministry of Investment, Trade and Industry (MITI) through its agency the Malaysian Investment Development Authority (MIDA) has identified 12 leading Egyptian manufacturing companies interested in exploring investment opportunities in Malaysia.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the companies were interested in exploring investments in the pharmaceutical, medical device, aerospace and petrochemical sectors.

He said the leading Egyptian manufacturing companies expressed their interest when participating in a roundtable meeting held here in conjunction with Prime Minister Datuk Seri Anwar Ibrahim’s official visit to Egypt which ended yesterday.

“This roundtable meeting was attended by around 60 industry and business leaders from 47 leading companies and business associations from Egypt,“ he said at a press conference on the final day of the Prime Minister’s visit yesterday.

Tengku Zafrul said during the roundtable meeting that a total of 28 high-value industrial companies including in the automotive, chemical, oleochemical, food, palm oil-based products, personal care, renewable energy, logistics and finance and construction sectors were invited.

He said all the companies concerned have now imported goods and services from Malaysia worth RM505.2 million.

“The roundtable meeting had generated potential exports of RM4.8 billion. This shows great trade opportunities, particularly in the high-value innovation sectors outlined under Malaysia’s New Industrial Master Plan (NIMP) 2030,“ he said.

Tengku Zafrul added that the companies present at the roundtable conference also expressed interest in acquiring various products and services from Malaysian suppliers including automotive spare parts and components, palm oil, cooking oil and fats, oleochemicals, detergents, special chemicals, solar panels and inverters, building materials, and food and beverage products.

Source: Bernama

MIDA identifies 12 Egyptian companies interested in investing in Malaysia – Tengku Zafrul

The Malaysian Communications and Multimedia Commission (MCMC), in partnership with the Malaysian Investment Development Authority (MIDA), has launched Malaysia’s first-ever “5G Readiness Assessment Survey for Malaysian Industries.”

The initiative aims to gauge the preparedness of local companies in adopting 5G-based technologies, identify adoption challenges, and gather input to drive innovation and service quality enhancements among 5G providers.

With 5G poised to transform critical industries, the survey targets companies across various sectors, with a special focus on empowering Small and Medium Enterprises (SMEs) as enhanced 5G access is expected to accelerate innovation, improve operational efficiency, and bolster competitiveness within Malaysia’s rapidly advancing digital ecosystem.

MCMC and MIDA encourage enterprises to participate, supporting efforts to expand 5G deployment and enhance Malaysia’s digital capabilities.

The survey will run until Dec 1, 2024.

Source: NST

MCMC, MIDA launches survey to gauge industries’ readiness for 5G

The government, through the Ministry of Investment, Trade and Industry (MITI) and the Malaysian Investment Development Authority (MIDA), has introduced two new funds under the 12th Malaysia Plan (12MP), namely the Domestic Investment Accelerator Fund (DIAF) and the Foreign Investment Accelerator Fund (FIAF).

DIAF and FIAF build upon the Domestic Investment Strategic Fund (DISF) and the High Impact Fund (HIF), aligning with the government’s current policies under the MADANI Economy framework and the New Industrial Master Plan (NIMP) 2030, said MITI Deputy Minister Liew Chin Tong.

“DISF and HIF, which were allocated under the 10MP and 11MP, have been fully utilised, with approvals for 526 projects,” he said during a question-and-answer session in the Dewan Rakyat today.

Liew explained that DIAF aims, among other objectives, to support small and medium enterprises (SMEs) and mid-tier companies in obtaining certification or verification for adopting environmental, social and governance elements.

This will be done through matching grants, with a 50:50 or 70:30 ratio for eligible expenses, depending on project evaluation.

“DIAF will also offer a 3.0 per cent interest rate subsidy for hire purchase or term loans, with a 12-month tenure, on eligible capital expenditure for automation and digitalisation projects,” he added.

Liew further noted that FIAF was introduced to attract high-quality foreign direct investment, in line with targets under NIMP 2030.

“This fund is also a matching grant, with a 50:50 ratio for eligible expenses.

“FIAF covers two types of activities, namely research, development and Innovation carried out in Malaysia, and technical training for full-time local workers,” he said.

He was responding to a question from Sim Tze Tzin (PH-Bayan Baru) regarding the government’s plans to reinstate DISF and HIF to help local companies enhance technology and reach international standards.

Liew assured that MITI and MIDA would continue to assess the effectiveness of existing incentives in line with current government policies and industry needs, while ensuring these incentives enhance the competitiveness of local companies.

“In addition, high-impact incentives will attract more quality foreign investment, generating positive spillover effects, including increased technology adoption among local companies,” he added.

Source: Bernama

Govt introduces DIAF, FIAF to support businesses and attract FDI — MITI

Global agri-commodity company Agrocorp International and Megmilk Snow Brand have partnered to invest in eco-friendly protein production, Agro Snow, in Johor Bahru.

This joint project aims to transform the plant-based food industry through innovative and sustainable production practices.

“By harnessing the power of pulses, such as lentils, chickpeas, and beans, the facility will produce high-quality plant-based protein with a significantly lower carbon footprint and water usage compared to traditional protein sources,” said Malaysian Investment Development AUthority (MIDA) in a joint statement released in conjunction with the groundbreaking ceremony for Agro Snow on Nov 4.

The companies highlighted that pulses, known for their low environmental impact and high nutritional content, will serve as the primary ingredient behind this facility’s eco-friendly production advantages.

Once operational, the factory will become a key supplier of affordable, sustainable protein to food manufacturers across Asia, helping to drive growth in the plant-based food sector and advance the region’s shift toward more sustainable dietary options.

The facility, with an annual production capacity of 6,000 metric tonnes of pulse protein isolates, is scheduled to be completed by the first quarter of 2026 and will employ around 80 local workers, fostering economic growth and job creation.

“This joint venture sets a strong example of how collaboration and innovation can drive positive change, paving the way for a more sustainable food system,” the companies said.

MIDA chief executive officer (CEO) Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said that the Agro Snow facility aligns with the New Industrial Master Plan (NIMP) 2030, enhancing Malaysia’s position in
the alternative protein segment while strengthening its reputation as a premium food ingredients hub.

Sikh Shamsul Ibrahim noted that the facility’s focus on functional foods, health-conscious trends, and halal certification opens new global opportunities.

He said that the incorporation of advanced technology and sustainable processes aligns with goals for safer, more efficient, and eco-friendly production.

This investment represents exactly what we envisioned: a perfect blend of advanced technology, environmental responsibility, and economic growth,” he said.

Agrocorp International CEO Vishal Vijay said, “We hope that the pedigree of our two companies, as well as the competitive advantage we gain from being in Johor, will allow Agro Snow to become a leading supplier of plant-based ingredients to the region.”

Meanwhile, Megmilk Snow Brand managing executive officer Takashi Mori stated that, with rising global demand for sustainable and diverse food sources, plant-based ingredients are becoming a vital solution.

“Leveraging our expertise and quality control from the dairy industry in Japan, we aim to revitalise the global plant-based food market and continue offering new, sustainable options through the production and sales from this project,” he added.

Source: Bernama

Agro Snow set to transform plant-based food industry

Leading developer and operator of high-performance data centres GDS International exchanged Memoranda of Understanding (MOUs) with global suppliers in a series of partnerships that will bring an estimated RM1 billion investments for integrated factories and service centres.

A joint statement between the Malaysian Investment Development Authority (MIDA) and GDS on Sunday, a key player in Malaysia’s data centre industry, said these partnerships are estimated to create up to 5,000 jobs and contribute more than RM5 billion annually to the economy, and forge stronger connections in Malaysia’s data centre supply chain.

Deputy Investment, Trade and Industry Minister Liew Chin Tong said the partnerships exemplified the government’s commitment to cultivate an ecosystem that nurtures technological advancement and innovation, strengthening the foundation and development of Malaysia’s digital infrastructure.

“The five key considerations for the data centre industry should be the creation of meaningful job opportunities, localisation of its supply chain, prevention of speculative build, water and power consumption,” he said in the statement.

The exchange of MOUs took place at the GDS-hosted Data Centre Supply Chain Ecosystem Summit in Johor on Sunday.

At the same event, GDS also exchanged an MOU with Sirim to improve quality and standards in the data centre industry.

MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said Malaysia’s expanding data centres network and cloud infrastructure are crucial for facilitating cross-border data flow.

“Beyond data storage and processing, these data centres provide a veritable goldmine of opportunities for our small and medium-sized enterprises to plug into the global value chain.

“This fosters the development of our local talent, drives technological innovation, and fuels economic growth within the ecosystem,” he said.

Meanwhile, GDS chairman William Huang said the company is dedicated to fostering collaboration across the industry and with key stakeholders.

“Together, we can drive significant growth, enhance our capabilities, and position Malaysia as a leading hub for data centre services in the region,” he said.

The summit gathered over 400 attendees across the data centre supply chain, as well as industry leaders and key government agencies, showcasing the latest technology trends and reaffirming Malaysia’s position as a key player in the global digital economy.

Malaysia is making remarkable strides in its digital economy, with an approved RM185.3 billion in digital investments from 2021 to June 2024.

Data centre and cloud investments accounted for the lion’s share of these total approved investments, at RM131 billion.

Source: Bernama

GDS partners global suppliers to bring in RM1 bil investment — MIDA

The initiatives tabled in Budget 2025 enable Malaysia to attract more high-quality, innovative and sustainable investments, making Malaysia a preferred investment destination in the Southeast Asian region, said the Malaysian Investment Development Authority (MIDA).

Chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said Budget 2025 is an important step to realise the goals of the MADANI Economy framework.

He said MIDA continues to play a role in supporting a fresh investment climate for investors and the business community to drive economic growth and prosperity for the country.

“We are very excited about the range of incentives announced in the budget, which will further enhance the competitiveness of the business community, attract targeted quality investment and create new opportunities to generate inclusive and sustainable economic growth,” he said in a statement today.

In line with the MADANI Economy framework, MIDA said Budget 2025 reflects Malaysia’s commitment to supporting inclusive and sustainable economic growth.

“This budget will also empower the business community, drive innovation, increase the value of the dynamic manufacturing and service sector ecosystem, while generating benefits for the people.

“Through the initiatives outlined, the Ministry of Investment, Trade and Industry (MITI) and MIDA are committed to doubling their efforts and role to strengthen the country’s competitiveness at regional and international levels,” he said.

Last Friday, Prime Minister Datuk Seri Anwar Ibrahim tabled Budget 2025, containing a series of support measures to help the business community and initiatives to stimulate a strong and robust national economy.

Among the measures announced are the implementation of the Global Minimum Tax, Supply Chain Resilience Measures, and a proposal to review the feasibility of the Strategic Investment Tax Credit.

Source: Bernama

Budget 2025 To Attract More Quality Investments, Making Malaysia Preferred Investment Destination – MIDA

The 2025 Budget features  many incentives to enhance business competitiveness and attract high-quality investments.

This aligns with the government’s goal to make Malaysia a preferred investment destination in Southeast Asia, said the Malaysian Investment Development Authority (MIDA).

Its chief execuyive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the budget is a crucial step towards realising the goals of the Madani Economic Framework.

“MIDA remains dedicated to supporting a fresh investment climate for investors and the business community to drive our country’s economic growth and prosperity,” he added.

MIDA welcomed the implementation of the 15 per cent Global Minimum Tax (GMT) under Base Erosion and Profit Shifting (BEPS) Pillar 2 from January 2025.

This will ensure the country’s tax system aligns with international standards without discouraging existing investments, it said.

MIDA also said the supply chain resilience initiative can help local companies to participate in global markets as the tax deduction and investment funds will foster collaboration between multinational enterprises (MNEs) and local suppliers.

The initiatives include MNEs receiving double tax deduction of up to RM2 million annually for three years, while joint venture between MNEs and local suppliers will benefit from investment-related tax deductions.

A matching fund of RM100 million, meanwhile, is available for sectors like electronics, specialty chemicals and medical devices.

Source: NST

Budget offers incentives to drive competitiveness, attract quality investments: MIDA  

The Malaysian Investment Development Board (MIDA) has approved 12 data centre investment projects that include data centre activities, cloud computing, and data hosting with an investment of RM90.2 billion over the period from 2021 to June 30, 2024.

The Ministry of Investment, Trade and Industry (MITI) announced that of the total approved, six projects with an investment of RM68.9 billion – four in Johor and one each in Selangor and Kuala Lumpur, have been completed and are operating.

“Another six projects are in various stages of planning or construction, namely one project in Negeri Sembilan, two projects in Selangor and three projects in Johor,“ MITI said in a written response on the Parliament website today.

Source: Bernama

MIDA approves 12 data centre projects worth RM90.2b from 2021 to June 2024

The Malaysian Investment Development Authority (MIDA) and the Malaysian Technical Universities Network (MTUN) today formalised a collaboration to bolster Malaysia’s high-skilled workforce through the signing of a Memorandum of Understanding (MoU).

The MoU was inked by MIDA Chief Executive Officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid and Vice Chancellors from four MTUN universities – Universiti Malaysia Perlis (UniMAP), Universiti Tun Hussein Onn Malaysia (UTHM), Universiti Malaysia Pahang Al-Sultan Abdullah (UMPSA) and Universiti Teknologi Malaysia Melaka (UTeM).

Representing the universities were Professor Datuk Dr Zaliman Sauli (UniMAP), Professor Datuk Dr Ruzairi Abdul Rahim (UTHM), Professor Datuk Dr Yusserie Zainuddin (UMPSA) and Professor Datuk Dr Massila Kamalrudin (UTeM).

In his remarks, Sikh Shamsul Ibrahim said that the MoU reflects a shared commitment to enhancing Malaysia’s talent pool, particularly in the area of Technical and Vocational Education and Training (TVET).

“This initiative addresses the critical demand for skilled professionals in Malaysia’s burgeoning manufacturing and technology sectors,” he said.

Sikh Shamsul Ibrahim also highlighted that this collaboration exemplifies the synergy between MIDA and academic institutions, paving the way for a new generation of highly skilled professionals tailored to meet the evolving needs of Malaysia’s industrial landscape.

“It aligns with the goals of the New Industrial Master Plan 2030 and the MADANI Economy Framework, positioning Malaysia as a competitive force in the global economy,” he added.

He further noted that the partnership would enable MTUN universities to better prepare their students for careers in advanced sectors such as electronics and engineering.

Leaders from MTUN institutions, UniMAP,UTHM, UMPSA and UTEM, echoed similar sentiments, reaffirming their commitment to equipping graduates with industry-relevant skills and ensuring their job readiness.

Massila who is also MTUN Chairman said the partnership would bridge the gap between education and industry, ensuring that graduates are well-equipped for future high-tech industries. Meanwhile, during the ceremony, Sikh Shamsul Ibrahim was conferred the title of Adjunct Professor under the CEO@Faculty programme in recognition of his contributions to strengthening ties between academia and industry.

Source: Bernama

MIDA, MTUN deal to boost highly-skilled workforce

The Malaysian Investment Development Authority (MIDA) has partnered with the Malaysian Technical Universities Network (MTUN) to develop high-skilled talent through technical and vocational education and training (TVET).

In a statement today, MIDA said this is in response to the growing demand for skilled talent in Malaysia’s rapidly advancing manufacturing sector.

The partnership outlines several key focus areas, including aligning labour market supply with industry demand, developing human capital through TVET talent development programmes, and strengthening collaboration between academic institutions and industries. 

It will also facilitate the transfer of knowledge from industry to academia, particularly in talent development.

MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the importance of such partnerships in ensuring Malaysia’s competitive edge in the global economy.

“This collaboration exemplifies the synergy between MIDA and institutions of higher learning.” 

“By joining forces, we will cultivate a new generation of high-skilled professionals who are perfectly attuned to the evolving needs of Malaysia’s thriving industrial landscape.”

“We aim to create high-skill job opportunities and build a competitive workforce ready to drive economic transformation in line with the New Industrial Master Plan 2030 and the Madani Economy Framework,” he noted.

As part of the event, Sikh Shamsul was also conferred the title of Adjunct Professor under the CEO@Faculty programme, recognising his leadership and contribution to bridging industry and academia. 

The event also featured several memorandum of understanding (MoU) exchanges between MTUN and key industry players, underscoring the collaboration’s broad impact.

Source: NST

MIDA partners MTUN to develop high-skilled TVET talent

The Malaysian Investment Development Authority (MIDA) is actively crafting innovative and strategic pathways, connecting investors and industry players with local talent to meet the ever-evolving demands of the industry.

In an exclusive interview with Bernama, MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said, “A key focus is nurturing stronger ties with Malaysia’s technical universities and cultivating a dynamic talent pipeline for the future.”

As the country’s key agency responsible for promoting and facilitating foreign and domestic investments in Malaysia, MIDA supports investors by helping them source talent through an extensive network of local universities and training institutions.

He said MIDA also facilitates roles where local expertise is still developing and assists in securing necessary expatriate hires while encouraging the growth of local talent.

Between 2021 and 2023, MIDA facilitated the creation of approximately 150,000 job opportunities through 2,386 approved manufacturing projects, with over 81 per cent of these projects already implemented.

“Many of these positions offer high-paying roles for skilled Malaysian talent,” he said.

MIDA Addresses Specific Talent for Companies Expanding in Malaysia

He highlighted that since the start of 2023, MIDA has been leading initiatives to develop specialised software engineering skills, particularly in embedded software for the electrical and electronics
(E&E) sector.

This initiative is a collaborative effort involving key stakeholders such as the Ministry of Higher Education (MoHE), the E&E Productivity Nexus under the Malaysia Productivity Corporation (MPC), MIMOS Bhd, universities, and local E&E companies. Together, they are strengthening Malaysia’s standing as a hub for
technological advancement.

MIDA, in partnership with MoHE, signed a memorandum of understanding (MoU) to produce skilled graduates, to position Malaysia among the world’s top 30 economies by 2033, as targeted by the MADANI Economy Framework.

The event also featured MoUs on workforce development with Micron Memory Malaysia, Stellantis Gurun, and Inari Technology, aimed at improving graduate employability and enhancing Malaysia’s industrial competitiveness.

On the digital front, MIDA, together with the Malaysia Digital Economy Corporation (MDEC), facilitated RM144.7 billion in digital investments from 2021 to 2023, creating 39,231 job opportunities. Of this, RM114.7 billion was invested in establishing data centres by companies such as Amazon, GDS, YTL and ByteDance.

“These efforts highlight Malaysia’s increasing significance in the digital economy and our strategic role in developing a strong talent ecosystem that supports local and foreign investors,” he said.

MIDA’s Role in Industry Talent Management

Malaysia’s workforce consistently ranks among the world’s most competitive, known for being highly educated and skilled. The country is committed to ongoing workforce training to stay responsive to evolving business demands and technological advancements.

“Our public and private sectors collaborate to develop a steady talent pipeline for future-focused industries,” he said.

Beyond promotional efforts, MIDA plays a key role in managing industry talent by partnering with stakeholders to ensure a sustainable talent supply, particularly in advanced manufacturing, services, and technology sectors.

MIDA assists investors in identifying and securing the right talent, facilitating training programmes and providing guidance on relevant policies and incentives.

MIDA also fosters collaboration between industry, academia, and the government to address talent needs, bridge skill gaps, and align education and training programmes with the future demands of the industry.

Eksplorasi Kerja MIDA @ MITI Day 2024

Sikh Shamsul Ibrahim highlighted that the career fairs aimed to give graduates and job seekers the chance to explore a variety of career opportunities from local and international companies.

The event enabled participants to exchange information, network, and discover potential career paths, helping them make informed decisions and connect with future employers.

More than 2,000 participants, mainly graduates from various institutions across Malaysia, attended. A total of 22 companies offered over 2,600 job opportunities and internships.

Among the multinational companies present were Stellantis, Base Maintenance Malaysia, Texas Instruments, TF AMD, Shopee and Bytedance. Local industry champions such as Proton, Pentamaster, YTL DC and Straits Orthopaedics also took part in the fair.

The companies received over 1,000 resumes and conducted almost 300 on-site interviews.

Following the event, companies will continue to reach out to promising candidates for further interview sessions based on the resumes collected.

“This event underscores the success of collaboration between academia and industry,” Sikh Shamsul Ibrahim added. “MIDA remains committed to supporting local talent development and bridging the gap between education and employment.”

Source: Bernama

MIDA Connects Investors With Local Talent Through Innovative Pathways – CEO

The Malaysian Investment Development Authority (MIDA) is on track to achieve its target of RM2.5 billion in investments from green investment leads at the International Greentech & Eco Products Exhibition and Conference Malaysia (IGEM) 2024.

As Malaysia assumes the ASEAN Chairmanship in 2025 on Oct 11, 2024, the country is poised to play a leading role in promoting sustainable development in the region.

The theme of “Inclusivity and Sustainability” reflects the urgent need for policies that address both immediate and long-term challenges, including climate change, environmental degradation, and social inequality.

Malaysia’s leadership has emphasised ASEAN’s commitment to contributing to a greener and more sustainable future, a vision that aligns with the growing importance of green investments for the region’s economic growth and resilience.

MIDA chief executive officer, Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, said the investment leads included seven companies, with five agreements being signed between Solarvest Group and its partners as part of the Memorandum of Understanding (MoU) exchange, focusing on advancing green energy initiatives, renewable energy projects, and sustainability efforts in Malaysia.

“These exchanges, with a cumulative investment value exceeding RM1 billion in several aspects of the green ecosystem such as training and research, development of Battery Energy Storage Systems (BESS), green financing, and solar farms are poised to make a significant impact on Malaysia’s green technology landscape,” he told Bernama.

Among the companies are Greenrock Energy Co Ltd, Atlantic Blue Sdn Bhd, Wezmart International Bhd and UKM Pakarunding Sdn Bhd.

The event also featured the announcement of four quality green projects approved by MIDA for the period from January to June 2024, with a total combined investment worth RM1.82 billion.

All four projects, with an investment value exceeding RM100 million, represent some of the Green Investment Strategy (GIS) levers, such as renewable energy (RE) and green mobility, which underscore MIDA’s commitment to promoting sustainable development in Malaysia.

The largest projects are from Chery Corporate Malaysia Sdn Bhd, worth RM1.4 billion for energy-efficient vehicles including an electric passenger vehicle plant, and Asiabina Solar Sdn Bhd, worth RM200 million for a Large Scale Solar Photovoltaic (LSSPV) plant.

Co-organised by the Ministry of Natural Resources and Environmental Sustainability (NRES) and the Malaysian Green Technology and Climate Change Corporation (MGTC), IGEM 2024 was held from Oct 9 – 11, 2024, under the theme ‘Race Towards Net Zero: Regional Leadership for Climate Urgency’.

The event attracted 48,000 participants and 480 exhibitors from 48 countries, targeting business leads estimated at RM4.8 billion in total.

Sikh Shamsul Ibrahim said IGEM 2024 is gearing up, reaffirming its status as the premier trade event for green technologies and eco-solutions in Southeast Asia.

He added that MIDA, as the strategic partner of IGEM for the last fifteen years, has been instrumental in driving green investment leads contributing to the event.

“Moving forward, we have to emphasise this kind of investment. This event is crucial for advancing sustainability and green technology, as the government aims to achieve a target of RM300 billion in green investments by 2030, demonstrating a strong commitment to green energy,” he said.

He added that Malaysia is dedicated to the global effort against climate change and has committed to reducing greenhouse gas (GHG) emissions intensity, with the goal of achieving Net Zero emissions by 2050.

Key master plans, such as the New Industrial Master Plan (NIMP) 2030 and the National Renewable Energy Roadmap (NETR), as well as the newly launched Green Investment Strategy (GIS), play pivotal roles in Malaysia’s strategy to expand its renewable energy (RE) capacity.

These initiatives are part of Malaysia’s ambitious goal to achieve 70 per cent renewable energy by 2050, aligning with its broader objective of achieving net-zero carbon emissions as early as 2050.

Hence, Sikh Shamsul Ibrahim said MIDA, as Malaysia’s central Investment Promotion Agency, is pivotal in making Malaysia a prime green hub by 2030.

Green Investments

Sikh Shamsul Ibrahim stated that from January to June 2024, MIDA approved 399 green projects under the Green Investment Tax Allowance (GITA) and Green Income Tax Exemption (GITE) incentives, with a total value of RM1.02 billion.

“Of these, 391 were RE projects, mostly dominated by solar, accounting for RM887.4 million in investment, while the remaining eight projects were focused on energy efficiency with a total investment value of RM130.6 million,” he said. 

Source: Bernama

MIDA on track to achieve RM2.5bln green investment goal at IGEM 2024

The Malaysian Investment Development Authority (Mida) on Thursday unveiled seven memoranda of understanding (MOUs) with potential investments of over RM1 billion in the green sector at the International Greentech and Eco Products Exhibition and Conference 2024 (IGEM) here.

This amount represents nearly half of the agency’s total investment goal of RM2.5 billion set for the three-day trade event that began on Wednesday.

MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said Thursday’s milestones are poised to bring Malaysia a step closer to realising its net-zero vision and ensuring that the country stays at the forefront of green innovation.

Five of the MOUs were signed by Solarvest Holdings Bhd, including with Greenrock Energy Co Ltd for joint development and deployment of a battery energy storage system, with Vista Contracting & Investment Global Pte Ltd (Samsung) for the preparation for the Corporate Renewable Energy Supply Scheme (CRESS), and with Chailease Holding Co to collaborate in solar farm development in Malaysia.

Solarvest also inked an MOU with Alliance Bank Malaysia Bhd to explore collaborations in providing green financing, and another MOU with UKM Pakarunding Sdn Bhd for training and research in the renewable energy sector.

Meanwhile, Wezmart International Bhd and Green Quarter Sdn Bhd will collaborate on green services, including consultancies, sustainability reporting, and environmental, social and governance (ESG) audits.

Green Quarter will also work with CREX Private Ltd to provide one-stop consultative services for carbon reduction and sustainability solutions.

Sikh Shamsul Ibrahim said as IGEM continues to grow, Mida had received strong interest from both local and international delegates to invest in Malaysia.

“For the remaining RM1.5 billion, our team is working with the companies. We have a mixture of interest from both [local and foreign companies].

“In fact, some of them came to us a few days ago. One of the delegates are from Sweden with interesting technologies,” he told reporters at the MOU exchange ceremony on Thursday.

He also announced that four quality green projects with total investments amounting to RM1.8 billion were approved in the first half of 2024.

“These projects, spanning renewable energy to green mobility, represent the kind of high-impact investments that are essential for our transition to a sustainable economy.

“The success of Malaysia’s green agenda will need to be a whole-of-nation effort to succeed. We know that sustainable development will require strong commitment by all stakeholders — businesses, workers, and every one of us,” he said.

He highlighted that Malaysia had taken a bold step forward in efforts to decarbonise the economy through the Green Investment Strategy launched in August.

“We aim to attract RM300 billion in green investments by 2030, aligning with our 2050 net-zero carbon emissions target outlined in the National Energy Transition Roadmap and the New Industrial Master Plan 2030.

“Our strategy focuses on seven key areas, namely renewable energy, energy efficiency, hydrogen, bioenergy, green mobility, carbon capture, utilisation, and storage, and the circular  economy,” he said.

These investments are designed to drive sustainable socioeconomic development while ensuring the nation reduce carbon emissions intensity against gross domestic product by 45% by 2030, as compared to 2005 levels.

Source: Bernama

MIDA unveils MOUs with potential green investments of over RM1b on second day of IGEM

Schott Glass Malaysia Sdn Bhd’s new state-of-the-art production facility in Kulim, Kedah, further solidifies Malaysia’s position as a global manufacturing hub for high-end specialty glass solutions, according to the Malaysian Investment Development Authority (Mida).

Its chief executive officer, Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said Schott’s continued investment in Malaysia aligns with the vision outlined in the New Industrial Master Plan (NIMP) 2030. 

“NIMP 2030 aims to transform Malaysia into a high-income economy, and Schott’s new facility in Kulim underscores the country’s appeal as a hub for high-tech industries.

“This expansion will not only create valuable job opportunities but also drive economic growth in innovation, technology, and entrepreneurship,” he said in a joint statement on Monday.

The Kulim facility is expected to create approximately 400 skilled engineering and production jobs, providing valuable employment opportunities in the local economy.

This new site will significantly enhance Schott’s capacity to supply high-quality optical components to international high-tech industries, including augmented reality (AR).

The company’s first Asian production site is located in Penang and was established in 1974.

The plant has evolved into an advanced facility employing over 1,300 skilled engineers and production workers, producing optical components and specialty materials for various high-tech applications.

Schott board member Dr Andrea Frenzel stated that the inauguration of the Kulim plant is a milestone achievement for the international technology group.

“Half a century ago, Schott established our first production site in Asia, which is in Penang. Today, we are thrilled to continue this journey by expanding and strengthening our presence in Malaysia,” she said.

Source: Bernama

Schott’s new factory in Kedah strengthens country’s position as global manufacturing hub — MIDA

The Malaysian Communications and Multimedia Commission (MCMC) and the Malaysian Investment Development Authority (Mida) organised a workshop on the Implementation of the Industry Readiness Assessment Framework for 5G Services in Malaysia.

The one-day workshop, held here on Tuesday, aimed to develop a framework to assess the readiness of key economic sectors, including manufacturing, services, construction and agriculture, in adopting 5G technology.

The workshop is a follow-up to the Memorandum of Understanding (MOU) exchanged between MCMC and Mida on July 4, aimed at implementing various initiatives leveraging 5G networks in vertical sectors and small and medium enterprises (SMEs), MCMC said in a statement on Wednesday.

“The parameters to be used in assessing the readiness of key sectors will cover aspects such as location, investment, skills or talent, digital infrastructure and services.

“The feedback gathered will then be used to develop a comprehensive assessment framework for the adoption of 5G technology across various industries in Malaysia, including SMEs,” said MCMC.

Among the agencies participating in the workshop, attended by more than 100 participants, were the Land Public Transport Agency (APAD), the Malaysian Palm Oil Board (MPOB), the Malaysia Productivity Corporation (MPC), SIRIM Berhad, SME Corporation Malaysia (SME Corp), Digital Nasional Berhad (DNB), telecommunications companies and relevant industry associations.

MCMC described the workshop as a significant step toward ensuring industry readiness in adopting 5G technology.

“It has the potential to increase productivity and efficiency in the manufacturing, services, construction, agriculture and mining sectors,” said the commission.

Meanwhile, Mida, in the same statement, emphasised its commitment to creating a conducive environment for the adoption of advanced technologies.

“The adoption of 5G technology will not only enhance productivity in key industries but also position Malaysia as a digital innovation leader in the region, driving economic growth and improving the country’s competitiveness on the global stage,” said Mida.

Source: Bernama

MCMC, MIDA collaborate to develop 5G readiness assessment framework for SMEs

As Tan Seri Sulaiman Mahbob concludes his tenure as chairman of the Malaysia Investment Development Authority (MIDA) on Sept 2, 2024, his leadership has left an indelible mark on Malaysia’s investment landscape.

Under his stewardship, MIDA navigated unprecedented global challenges and positioned Malaysia as a resilient and attractive destination for high-quality investments.

MIDA’s success is a testament to the authority’s commitment to attracting and retaining investments that drive economic prosperity and create opportunities for the nation.

Navigating through a global crisis

The post-COVID-19 era presented unprecedented challenges to the global economy, with widespread disruptions to investment flows and business operations.

Malaysia, like many other countries, was severely impacted, with stringent lockdowns and travel restrictions affecting the country’s economic landscape.

However, MIDA  adapted to these challenges, ensuring Malaysia remained a viable investment hub despite the crisis.

To sustain investment momentum, MIDA introduced the One-Stop Centre (OSC) in October 2020.

“The OSC was pivotal in facilitating the entry of business travellers into Malaysia, ensuring that critical investments could proceed even as borders were closed.

“This was further strengthened by establishing the Business Travellers Centre (BTC) at Kuala Lumpur International Airport in March 2021, offering a seamless process for business travellers, including on-site COVID-19 testing,” he told Bernama.

Sulaiman explained that these initiatives were critical in maintaining investor confidence at a time when many economies were retracting.

The result was a remarkable achievement, resulting in Malaysia approving over RM900 billion in investments between 2021 and 2023, with a substantial portion currently in various stages of implementation.

“These figures underscore the resilience of Malaysia’s investment ecosystem and the effectiveness of MIDA’s crisis management strategies, and I am proud of what we have achieved,” he added.

Accelerating digital transformation

Malaysia is on track to become one of the world’s most digitally advanced societies. To keep pace in this era where digital efficiency equals economic competitiveness, MIDA must stay ahead of the curve.

Sulaiman recognised the need to transform MIDA’s operations to adapt to the demands of a rapidly changing global market.

His tenure saw the introduction of several digital initiatives designed to streamline processes and enhance Malaysia’s appeal to investors.

A key milestone in this transformation was the launch of the InvestMalaysia Portal.

“This digital platform significantly reduced the time and complexity associated with applying for manufacturing licences, tax incentives, and import duty exemptions.

“The portal represents MIDA’s commitment to making Malaysia a more accessible and business-friendly environment for both domestic and international investors,” said Sulaiman.

Building on this foundation, he noted that MIDA introduced digital certificates for critical approvals in August 2023.

“These include certificates for the manufacturing licence under the Industrial Co-ordination Act 1975, the permit under the Petroleum Development Act 1974 and Pioneer Status certificates.

“This shift towards digitalisation not only accelerated approval processes but also enhanced transparency and efficiency, further solidifying Malaysia’s reputation as a top-tier investment destination,” he opined.

Strategic consolidation and policy alignment

MIDA’s strategic vision extended beyond immediate crisis management to include long-term structural reforms to ensure Malaysia’s competitiveness in a post-pandemic world.

A key initiative in this direction was centralising investment promotion activities within MIDA.

By bringing entities like InvestKL Corporation under MIDA’s umbrella, he ensured a more coordinated and effective approach to attracting and retaining investments.

This strategic consolidation was complemented by his active involvement in formulating national economic policies.

Sulaiman said MIDA played a crucial role in shaping the New Industrial Master Plan (NIMP) 2030, the National Energy Transition Roadmap (NETR), the National Semiconductor Strategy (NSS) and the Green Investment Strategy (GIS).

These policies are designed to align Malaysia’s industrial and investment strategies with global trends and economic shifts, particularly in high-tech and sustainable sectors.

“We are also focused on building and strengthening the industrial ecosystem in Malaysia. This involves working closely with various stakeholders, including government bodies, industry leaders, and educational institutions, to enhance the overall investment experience.

“By fostering collaboration and improving investment facilitation and aftercare, we aim to streamline processes and support investors throughout their journey,” he added.

Focusing on high-value, high-growth sectors

Throughout his term, Sulaiman strongly advocated focusing Malaysia’s investment efforts on high-growth, high-value sectors.

He understood that for Malaysia to transition into a high-income nation, it needed to attract investments in industries that would drive innovation, create high-skilled jobs and contribute to sustainable economic growth.

MIDA successfully attracted substantial investments in key industries such as digital services, electrical and electronics (E&E), aerospace and medical devices.

“These sectors are not only crucial for Malaysia’s economic future but also its positioning in the global economy.

“The E&E sector, for example, has been a significant driver of Malaysia’s export performance, while investments in aerospace and medical devices have placed the country on the map as a hub for high-tech manufacturing and services,” Sulaiman said.

The chairman said MIDA established the Invest Malaysia Facilitation Centre (IMFC) to further enhance the investment ecosystem in December 2023.

He explained that the IMFC aimed to reduce bureaucratic hurdles and expedite the implementation of investment projects.

“By providing a direct link between investors and government agencies, the IMFC ensures that investments are not only approved quickly but also implemented efficiently, thereby maximising their economic impact,” he noted.

A vision for the future

As Sulaiman steps down, his legacy at MIDA is one of strategic foresight, adaptability and a relentless focus on positioning Malaysia for long-term economic success.

His contributions not only strengthened Malaysia’s investment climate but also laid the groundwork for future growth in an increasingly complex and competitive global environment.

Looking ahead, Sulaiman emphasised the importance of agility and strategic alignment with the MADANI Economy Framework, which focuses on building a high-tech, high-skilled, and high-wage economy.

He advised his successor to continue leveraging digital technologies, fostering innovation, and focusing on high-value sectors to ensure Malaysia remains an attractive destination for global investors.

Sulaiman’s tenure at MIDA has come to an end, but the foundations he has laid will undoubtedly continue to benefit Malaysia for years to come.

He leaves behind an institution that is resilient and well-prepared to navigate the challenges and opportunities of the future, ensuring that Malaysia remains at the forefront of global investment destinations.

Source: Bernama

Sulaiman Mahbob: Steering MIDA through economic crossroads

The Malaysian Investment Development Authority (Mida) and the Malaysian Institute of Economic Research (MIER) have established a strategic partnership focused on enhancing Malaysia’s economic and investment climate through data-driven research, analysis and collaboration.

The Memorandum of Agreement (MOA) was exchanged on Thursday between both parties by Mida chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid and MIER executive director Dr Anthony Dass.

Mida board member Tan Sri Soh Thian Lai and MIER board member Tan Sri Dr Sulaiman Mahbob witnessed the exchange.

Sikh Shamsul Ibrahim said that by integrating Mida’s extensive experience in investment facilitation with MIER’s comprehensive economic research, both parties will be able to foster a more competitive and resilient investment environment.

“This partnership is the first of its kind between Mida and MIER, and I am confident it will unlock new opportunities for both organisations and the nation at large.

“Our collaborations will be guided by shared values of transparency, strategic foresight, and innovation, ensuring that Malaysia continues to be well-positioned to tackle economic challenges and capitalise on emerging opportunities,” he said in his welcoming remarks during the MOA exchange here.

He said the MOA aligned with strategic objectives under the New Industrial Master Plan (NIMP) 2030 and reflected a commitment to positioning Malaysia as a premier investment destination on the global stage.

Echoing Sikh Shamsul Ibrahim, Dass said that Malaysia is demonstrating resilience while the global economy continues to face geopolitical uncertainties and financial market turbulence.

“With our gross domestic product (GDP) growth outpacing expectations — growing from 4.2% in the first quarter of 2024 (1Q 2024) to 5.9% in the second quarter of 2024 (2Q2024) — and private consumption forecasted to rise by 5.6% in 2024, the outlook remains positive.

“Strong domestic demand and robust private investments, with RM160 billion in approved investments in the first half of the year, show the confidence investors have in Malaysia,” he said.

During Thursday’s event, Mida and MIER also launched the Mida-MIER Monthly Business Conditions Survey Report, which will be published monthly to provide key insights into Malaysia’s manufacturing sector.

The survey, conducted in July 2024, reveals that the sector is expected to maintain its growth momentum, with over 70% of companies expressing optimism about current and future sales and production prospects.

Mida-MIER Monthly Business Conditions Survey Report will be accompanied by MIER’s Monthly Economic Review, which offers a broader analysis of global and domestic economic trends, covering key markets such as the US, China, and Europe, along with forecasts on Malaysia’s economic growth and the performance of the ringgit.

Source: Bernama

MIDA partners MIER to strengthen Malaysia’s investment climate

The Malaysian Investment Development Authority (MIDA) and Alliance Bank Malaysia Bhd hosted the inaugural Carbon Border Adjustment Mechanism (CBAM) workshop to explore the potential of CBAM in revolutionising sustainable industrial practices.

CBAM is a carbon border tax aimed at preventing carbon leakage by charging a fair price for carbon emissions from goods entering the European Union (EU) countries.

It said in a joint statement that about 75 per cent of Malaysia’s exports to the EU will be affected, albeit collectively accounting for about eight per cent of the country’s total exports from 2021 to 2023.

Malaysian exporters, especially those dependent on EU sales and those producing carbon-intensive products like cement, iron and steel, aluminium, fertilisers, electricity and hydrogen would be affected in the initial phase.

Ministry of Investment, Trade and Industry (MITI) deputy secretary general (investment and management) Datuk Bahria Mohd Tamil said the ministry is actively engaging with international partners to promote a low-carbon economy, ensuring Malaysia’s interests are represented in global climate negotiations and to facilitate trade for exporters affected by CBAM.

“The transition to a low-carbon economy presents both challenges and opportunities for Malaysia. While it is a new regulatory challenge, CBAM also incentivises sustainable practices and can enhance the long-term competitiveness of our businesses.

“With strategic planning and government support, we can navigate this transition successfully and drive innovation, improve our environmental credentials and secure a leading position in the global market,” she said.

Meanwhile, MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said it is crucial for everyone in the supply chain of European importers to understand the CBAM requirements thoroughly and be prepared to meet these new regulations.

“The shift towards greener practices is not just a regulatory hurdle, but a chance to innovate, to enhance efficiency and to position Malaysian businesses at the forefront of sustainable trade,” he said.

Alliance Bank Group chief strategy, marketing and business development officer Dr Aaron Sum said the bank has developed a long-term relationship with the small and medium enterprises (SME) community, which benefited both financial and nonfinancial solutions to enable the growth of businesses.

“This partnership will help us reach out to more businesses, particularly local manufacturers and exporters who are most impacted by the CBAM policy, and aide them in preparing their business roadmap for it,” he said.

The workshop that gathered industry leaders and an environmental expert from Riverstone Environmental Sdn Bhd was divided into three parts, focusing on CBAM’s impact on businesses, implementation timelines, compliance processes and strategies to navigate them.

Source: Bernama

MIDA, Alliance Bank Host CBAM Workshop To Explore Sustainable Industrial Practices

China-based manufacturer of electronic test equipment, RIGOL Technologies Co Ltd, has established its first overseas plant, research and development (R&D) centre and service centre in Penang, with a total investment of over RM100 million.

In a joint statement on Monday, Malaysian Investment Development Authority (Mida) and RIGOL said the new facility is located on 2.07 acres (3,365 square metres), with a factory footprint of 7249 square metres.

Mida chief executive officer (CEO) Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the investment offers an opportunity for Malaysia to move up the supply chain ladder, while also generating high-value jobs.

“We are excited that RIGOL chose Malaysia for its first manufacturing plant outside of China.

“At Mida, we are fully committed to facilitating developments like this that take Malaysia’s manufacturing sector to the next level,” he said in the statement.

Phase one of the new facility, which has already commenced operations, consisted of multiple production lines, focusing on the production of electronic test and measurement instruments. 

Phase two will have additional production lines and will focus on establishing an advanced R&D centre, as well as a comprehensive overseas service centre to support RIGOL’s ongoing commitment to innovation and customer service. 

Meanwhile, RIGOL Technologies (Malaysia) Sdn Bhd CEO Wang Ning said the Penang facility is a significant milestone in its global expansion strategy, and underscores the company’s dedication to delivering exceptional service to its international customers.

By enhancing its service capabilities in overseas markets, RIGOL is positioning itself to better meet the growing demands of clients, while maintaining steady growth within the industry. 

InvestPenang CEO Datuk Loo Lee Lian said: “Penang, also known as the Silicon Valley of the East, has over half a century of industrialisation experience, making it a natural hub to attract players within the electrical and electronics sector”.

Source: Bernama

Rigol Technologies sets up RM100m Penang facility — MIDA

The Northern Corridor Implementation Authority (NCIA), in collaboration with the Malaysian Investment Development Board (Mida), has secured RM31.38 billion in investments for Penang during the first half of 2024.

NCIA chief executive Mohamad Haris Kader Sultan said that this substantial investment demonstrates strong investor confidence in the long-term prospects of the Northern Corridor Economic Region (NCER), particularly in Penang.

“These investments encompass key sectors outlined in the NCER Strategic Development Plan, including High Value Manufacturing, Advanced Services, and Modern Agriculture. As a result, more than 6,600 job opportunities have been created during this period.

“This positive performance will serve as a catalyst for NCER to continue driving investment and business ecosystem development in the second half of the year, leveraging the region’s strengths, especially in the electrical and electronic (E&E) and semiconductor sectors,” he said.

Haris also announced that the NCER Technology Innovation Center (NTIC) building in Bayan Lepas has been completed and will soon be operational. This facility is expected to significantly enhance innovation, research and development (R&D) activities, and strengthen the value chain for small and medium enterprises (SMEs), further establishing Penang as a regional hub for technology and innovation.

“In the first half of 2024, 16 local SME companies in Penang received support through matching grants under the NTIC programme to improve their value chains via the Centre of Excellence (CoE) and Technology and Innovation (T&I) initiatives.

“Additionally, 144 local workers have been approved to undergo technical skills training under the Advanced Technology Meister Programme (ATMP) initiative,” he added.

NTIC is a key component of NCER’s “Technology Valley” initiative, which focuses on research, product development, and specialised design. The programme also serves as a platform for large local companies (LLCs), multinational corporations (MNCs), start-ups, individual technocrats, and young entrepreneurs to engage in technological and high-value-added activities within NCER, ultimately enabling them to generate their own intellectual property (IP).

Source: NST

NCIA and MIDA secure RM31.38 billion in investments for Penang

The Malaysian Investment Development Authority (MIDA) and Invest Selangor Bhd (ISB) have co-hosted the MIDA Invest Series – Selangor: “Unfolding Its Business Potential” to showcase Selangor’s investment landscape and opportunities.

MIDA chief executive officer Sikh Shamsul Ibrahim Sikh Abdul Majid said the event, which attracted 200 participants, reflected MIDA’s commitment to engage with local investors and explore the vast opportunities available within Selangor.

“This effort underscores MIDA’s pivotal role as a facilitator, connecting investors with promising opportunities and fostering a robust investment environment in Malaysia.

“Following the success of the first Invest Selangor series in August 2019, we are excited to witness the growth and expansion of this initiative in 2024,” he said at the event here today.

Sikh Shamsul Ibrahim said the collaboration with ISB is instrumental in broadening outreach and strengthening Selangor’s position as an investment magnet.

“This expansion signifies our unwavering commitment to elevating Selangor’s status and creating an even more attractive proposition for investors,” he added.

The event’s key highlight was the dynamic panel session, “The Future of Industrial Parks: Adapting to Emerging Trends and Challenges”.

This discussion dived into the transformative forces shaping the industrial development landscape, including sustainability and green technologies; digitalisation and smart manufacturing; and supply chain resilience.

Sikh Shamsul Ibrahim noted that MIDA, under the guidance of the Ministry of Investment, Trade and Industry (MITI), remains committed to creating wealth that benefits all Malaysians.

“Our efforts, combined with strategic partnerships with the Selangor state government, are aimed at positioning Malaysia and Selangor as a beacon of progress and prosperity on the global stage,” he said.

Source: Bernama

MIDA Invest Series Showcases Selangor’s Business Potential

The establishment of Sarawak Petchem Sdn Bhd’s RM7 billion methanol complex is a defining milestone in helping establish Malaysia as a leading methanol producer in the Asia-Pacific (Apac) region, says Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

“This will not only advance Malaysia’s capabilities in the chemical industry, as envisaged by the Chemical Industry Roadmap (CIR) 2030, but also drive job creation and stimulate our economy by providing opportunities to surrounding industries, as well as small and medium-sized enterprises (SMEs),” he said in a statement issued by the Malaysian Investment Development Authority (Mida) on Tuesday.

Mida said Sarawak Petchem’s methanol complex, which was launched in Tanjung Kidurong, Bintulu, is expected to drive further investments and stimulate the production of other downstream products.

The agency said this significant project, with an annual production capacity of 1.75 million tonnes, solidifies the company’s position as Malaysia’s second-largest methanol producer, after Petronas Chemicals Group Bhd (KL:PCHEM).

Methanol is a critical raw material for the production of chemicals such as acetic acid and formaldehyde, which are essential in industries including adhesives, solvents, and foams.

Mida chief executive officer Sikh Shamsul Ibrahim Sikh Abdul Majid described the milestone achievement by Sarawak Petchem as a testament to Malaysia’s attractiveness as a destination for large-scale, high-impact investments. 

“All of this is a prelude. As we move forward with the New Industrial Master Plan (NIMP) 2030 and CIR 2030, we are committed to driving high-value addition and diversifying into higher value-added products that will propel our economy forward,” he said.

While expressing confidence that the project will encourage further growth and investment in the region, Sikh Shamsul Ibrahim gave assurance that Mida will continue rendering the necessary facilitation to Sarawak Petchem in the company’s journey to become a leading entity in the global petrochemical industry.

Sarawak Petchem chairman Tan Sri Dr Abdul Aziz Husain said the project would catalyse more economic development in the region, driving job creation, fostering sustainable growth, and strategically positioning Sarawak as a key player in the global petrochemical industry.

“The establishment of Sarawak Petchem has also provided a platform for Sarawak to develop and attract a skilled workforce to come and work in Sarawak,” he said, adding that, in fact, some Sarawakians have returned to work with Sarawak Petchem, to complete this project.

According to Mida, the methanol complex is part of the Sarawak state government’s efforts to establish Bintulu as a petrochemical hub in the region. 

It said that the plant will require skilled personnel, predominantly engineers, technicians, operators and specialists, to oversee its operations, and there will also be secondary opportunities stemming from the plant’s operation, including services and maintenance.

Mida noted that Malaysia hosts a significant petrochemical industry, comprising over 100 companies that manufacture a diverse range of chemical products. 

It said foreign investments in the country have increased in recent decades, driven by its access to oil and gas resources, extensive infrastructure, a strong services sector, and a strategically advantageous geographic location that serves important markets in Asia and the Middle East.

“Malaysia’s petrochemical production currently focuses on olefins, polymers, and aromatics, with ambitious plans to advance into more sophisticated speciality chemicals beyond basic commodities,” the agency added.

Source: Bernama

MIDA: Sarawak Petchem’s RM7b complex to reinforce country’s status as top methanol producer in APAC

The Malaysian Investment Development Authority (Mida) and the Sarawak state government have successfully organised the first instalment of the Mida Invest Series – Sarawak: Unfolding Its Business Potential.

In a joint statement, they said the event aimed to highlight Sarawak’s dynamic business landscape, presenting untapped business and investment opportunities as well as facilitating engagement with key state agencies and stakeholders.

Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said there are huge opportunities for investors to collaborate with Sarawak and grow the clean energy generation sector.

“We are currently prioritising key areas such as large-scale solar, bioenergy including biogas and biomass, waste to energy, and pump hydro storage to address the intermittency of variable renewable energy and many more clean energy generation technologies that can be commercially deployed in Sarawak,” he said in his address.

Held at Mida Sentral in Kuala Lumpur, the event attracted over 200 participants, including industry leaders, government officials, entrepreneurs, and senior management from various sectors.

Meanwhile, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the recent approval of the Green Investment Strategy by the National Investment Council marks a significant milestone in efforts to drive sustainable socio-economic development.

He noted that the GIS aims to effect Malaysia’s energy transition and attract green investment in a more systematic way.

“Our aim is to attract roughly eight times the current value of green investments into Malaysia, guided by the seven low-carbon thrusts; as well as leveraging foreign investments in green technology and improving the green investment ecosystem.

“Sarawak’s ambitious green energy agenda, which aims to decarbonise its transport system and transition towards a low-carbon economy, is highly complementary to our national-level strategy on green investments, the New Industrial Master Plan 2030 (NIMP 2030) and the National Energy Transition Roadmap (NETR),” he explained.

Besides Sarawak Deputy Premier Datuk Amar Awang Tengah Ali Hasan, who is also the state’s Minister of International Trade, Industry, and Investment, said Sarawak offered a compelling value proposition across various economic sectors aligned with sustainable development goals and environmental, social and governance principles.

He also said that these principles are integral parts of the nation’s development strategy.

“Therefore, unfolding a sustainable future for Sarawak is about showcasing balanced economic growth with environmental stewardship and inclusive future,” he added.

Meanwhile, Mida chief executive officer Sikh Shamsul Ibrahim Sikh Abdul Majid said that one of the reasons Mida Invest Series events are held is to help all states achieve their full potential in bringing about development.

“This programme aims to provide the business community with essential information on government facilities and initiatives designed to build and sustain the competitive edge of domestic companies.

“Additionally, we strive to keep everyone informed about the latest industry and investment developments. Today, we continue the momentum by spotlighting the business and investment opportunities in Sarawak,” he said.

The recent programme featured three insightful sessions that highlighted Sarawak’s strategic initiatives and investment opportunities in key sectors, sustainable port infrastructure development, and the roadmap of digital economy and digital transformation in Sarawak, presented by speakers from relevant state agencies.

According to the statement, Sarawak stands at the forefront of investment potential, driven by its vast natural resources, strategic initiatives and recent advancements

In 2023, Sarawak achieved a significant milestone with a total approved investment of RM7.8 billion in manufacturing and selected services which are under Mida’s purview, reflecting a substantial growth of 387.5 per cent compared to 2022.

It said this upward trajectory is expected to continue in 2024, with Sarawak securing RM1.3 billion in approved investments under the same sectors in the first quarter of this year.

This was contributed by foreign private investment, encompassing eight projects which are expected to create 1,171 potential employments in Sarawak.

Source: Bernama

Investment opportunities in Sarawak highlighted at MIDA investment series event

The first installment of the Malaysian Development Investment Authorities'(Mida) Invest Series – Sarawak: Unfolding Its Business Potential” in Kuala Lumpur which attracted over 200 participants, showcased Sarawak’s potential in the clean energy generation sector.

The programme featured three sessions that highlighted Sarawak’s strategic initiatives and investment opportunities in key sectors, sustainable port infrastructure development, and the roadmap of digital economy and digital transformation in Sarawak, presented by speakers from relevant state agencies.

Sarawak Premier Tan Sri Abang Johari Tun Openg who was in attendance at the event said there are huge opportunities for investors to collaborate with Sarawak and grow the clean energy generation sector.

“We are currently prioritising key areas such as Large-Scale Solar, BioEnergy including Biogas and Biomass, Waste to Energy, Pump Hydro Storage to address the intermittency of Variable Renewable Energy, and many more clean energy generation technologies that can be commercially deployed in Sarawak,” he said.

Sarawak’s Deputy Premier/Second Minister Natural Resources and Urban Development/Minister for International Trade, Industry and Investment Datuk Amar Awang Tengah Ali Hasan also said that the state offers a compelling value proposition across various economic sectors aligned with sustainable development goals and environment, social and governance principles.

“These principles are integral parts of our development strategy. Therefore, unfolding a sustainable future for Sarawak is about showcasing balanced economic growth with environmental stewardship and inclusive future,” he added.

Mida CEO Sikh Shamsul Ibrahim Sikh Abdul Majid said one of the core reasons Mida Invest Series events are held is to help all states achieve their full potential in bringing about development.

He added that Mida organises such strategic promotional events to highlight each state and region’s unique comparative and competitive advantages.

In 2023, Sarawak achieved a significant milestone with a total approved investment of RM7.8 billion in manufacturing and selected services which are under Mida’s purview, reflecting substantial growth of 387.5 per cent compared with 2022.

Mida said this upward trajectory is expected to continue in 2024, with Sarawak securing RM1.3 billion in approved investments under the same sectors in the first quarter (January to March), contributed by the foreign private investment, encompassing eight projects expected to create 1,171 potential employments in Sarawak.

Source: NST

MIDA’s Invest Sarawak showcases Sarawak’s potential in clean energy generation sector