The Sarawak government is committed to prioritise the large-scale solar, bioenergy, including biogas and biomass, waste to energy as well as pump hydro storage areas to address the intermittency of variable renewable energy (RE) and clean energy generation technologies, said Premier Datuk patinggi  Tan Sri Abang Johari Tun Openg.

He said there are huge opportunities for investors to collaborate with Sarawak and grow the clean energy generation sector as all economic activities will depend on energy.

“Our strength is hydrogen and if we are able to generate it at a more competitive price, Malaysia can become one of the big players,” he told the media after officiating at the MIDA Invest Series titled ‘Sarawak unfolding its business potentials’ here today.

He also believed the cost to produce green hydrogen would be cheaper within 10 years with the advancement of production technology and would possibly be competitive with fossil fuels such as diesel.

“You would not need any more subsidy for diesel eventually because of having alternative energy,” he said.

Currently, the Sarawak government is exploring various new technologies that can generate more RE sources to achieve its target of producing 10 gigawatts (GW) of power by 2030.

The event, organised by the Malaysian Investment Development Authority (MIDA) and the Sarawak government, aimed to highlight Sarawak’s dynamic business landscape, presenting untapped business and investment opportunities, and facilitating engagement with key state agencies and stakeholders.

The programme featured three sessions, highlighting 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 esteemed speakers from relevant state agencies. 

Source: Bernama

Abg Jo: Sarawak committed to prioritise clean energy to address intermittency of variable renewable energy

The manufacturing sector, under the purview of the Ministry of Investment, Trade and Industry (MITI) and the Malaysian Investment Development Authority (MIDA), recorded RM194.9 billion worth of approved investments from January 2023 to March 2024.

This involved 1,135 projects that created 91,930 new job opportunities.

MITI said that foreign investments contributed RM166.6 billion or 85.5 per cent of the approved investments, with domestic investments contributing RM28.3 billion or 14.5 per cent.

“Out of the total manufacturing projects approved, 445 (39.2 per cent) from foreign investments amounting to RM37.6 billion have been realised and 29,693 jobs created,“ it said in a written response posted on the Parliament’s website today.

MITI was responding to a question from Datuk Dr Ahmad Marzuk Shaary (PN-Pengkalan Chepa) on the value of foreign direct investments (FDI) brought in, approved, and realised from 2023 to 2024.

The ministry said the five main industries in the manufacturing sector that recorded the highest foreign investment realised are electrical and electronics (RM22.5 billion), machinery and equipment (RM9.3 billion), non-metallic mineral products (RM2.9 billion), plastic products (RM1.1 billion and fabricated metal products (RM427.5 million).

It said the five states with the highest realised foreign investments for the period under review are Kedah, Selangor, Penang, Johor and Melaka, totalling RM36.4 billion or 86.7 per cent of total realised investments.

“This is an outstanding development as these projects were implemented in a shorter timeframe compared with the typical 18 to 24 months for realisation, depending on a project’s scale and complexity and prevailing economic conditions,“ it added.

Source: Bernama

Manufacturing sector under MITI, MIDA records RM194.8 bln approved investments in 15 months

The Digital Investment Office (DIO) has approved a total of RM161.97 billion of digital investments from the period of its establishment in 2021 until March 2024, according to the Malaysian Investment Development Authority (Mida).

Mida deputy chief executive officer of investment promotion and facilitation Sivasuriyamoorthy Sundara Raja said this milestone has already surpassed the RM70 billion digitalisation investment target set as part of the Malaysia Digital Economy Blueprint (MyDigital) strategies for 2025.

He noted that one of the areas in which the country has excelled in attracting investments is in hyperscale data centres.

“Malaysia has thrived largely due to its early adoption of cutting-edge technologies and innovative business models that drive broader growth.

“The digital economy has enabled companies to gain access to new markets and opened multiple possibilities to trade by facilitating the seamless flow of goods, services, and data across borders,” he said during a keynote address at the Asean Business Forum 2024 here Wednesday.

According to Sivasuriyamoorthy, in the economic space, Malaysia and Singapore have substantively concluded a framework of cooperation in the digital economy and green economy.

He said the digital economy framework will further empower businesses to digitally integrate their operations globally, hence enhancing economic competitiveness.

“The country is implementing pragmatic investment strategies and criteria for institutions and economies, including rapid technological breakthroughs and broad digitalisation.

“This is key to our continued relevance as an international hub for transport, business and finance,” he added.

Source: Bernama

MIDA: RM162b in digital investments approved as of March 2024

The Malaysian Investment Development Authority (MIDA) and the Malaysian Plastics Manufacturers Association (MPMA) are working closely to drive industry collaboration and understand the demand and supply of recycled plastic resources, which are crucial for many industry players in their decarbonisation efforts.

MIDA said in a statement today that the ongoing collaboration between MIDA and MPMA is set to continue driving Malaysia’s advancements in the plastics industry, ensuring sustained progress and innovation.

MIDA chief executive officer Sikh Shamsul Ibrahim Sikh Abdul Majid said the growth and transformation of the plastics industry in Malaysia are remarkable, showcasing the nation’s commitment to innovation and sustainability.

“As we advance towards a circular economy, we see a significant increase in recycling activities, creating new markets for advanced recycling technologies.

“Our continued progress in this sector is a testament to Malaysia’s dedication to environmental stewardship and economic growth. Malaysia is committed to achieving net zero carbon by 2050,” he said in the statement.

Meanwhile, MPMA president CC Cheah said the main challenge facing the industry is that most of the plastics are disposed after use.

“MPMA has recently proposed a Plastics Neutrality Masterplan which provides thought leadership to drive towards zero plastics to landfills by 2050. In Malaysia, achieving plastics circularity and neutrality poses several formidable challenges.

“The masterplan addresses the challenges by promoting a multifaceted approach, involving policy reforms, investments in infrastructure, public education campaigns and collaboration among stakeholders across the plastics value chain,” he said.

Cheah also said that the masterplan reinforces the industry’s commitment to address concerns related to plastics, by making plastics circular, driving lifecycle emissions to net zero, and fostering the sustainable use of plastics.

MIDA and MPMA are co-organising the MIDA-MPMA Conference on Government Facilitation and Assistance for a Circular and Low Carbon Economy at Avante Hotel, Petaling Jaya today.

With almost 100 participants, the one-day conference was successfully organised to provide an insight into various government policies, facilitations and assistance for the manufacturing sector, specifically the plastics industry.

The conference featured sessions by speakers from the Ministry of Investment, Trade and Industry (MITI), Ministry of Economy, MIDA, Malaysia External Trade Development Corporation (MATRADE), Bursa Carbon Exchange, Alliance Bank and Argus Media.

Source: Bernama

MIDA, MPMA collaborate in plastic recycling efforts

Malaysia saw a 13 per cent jump in approved investments to RM83.7 billion for the January to March 2024 (1Q24) period, the Malaysian Investment Development Authority (Mida) said.

Of this, more than half came from foreign investors, while domestic investments made up the balance 43.8 per cent.

About 51 per cent of investments were for manufacturing, 47 per cent for services and 1.7 per cent for primary sectors.

These approved investments comprise of 1,257 projects, which are expected to generate 29,027 new job opportunities for Malaysians.

Austria topped the list of foreign investors by a very wide margin, with RM30.1 billion (64 per cent) in approved investments, followed by Singapore (RM5.6 billion), The Netherlands (RM3.6 billion), The People’s Republic of China (RM3.4 billion), and The United States of America (RM632.8 million).

In terms of states, Mida said Kedah recorded the highest value of approved investments (RM31.3 billion), followed by Kuala Lumpur (RM21.5 billion), Selangor (RM12.4 billion), Sarawak (RM4.2 billion), and Johor (RM4.1 billion).

Target sectors stipulated by the National Investment Aspirations (NIA) contributed RM53.7 billion, accounting for 64.1 per cent of the total approved investments across 252 projects, which are expected to create 17,056 new job opportunities.

Of the total approved investments, RM47.5 billion, or 56.8 per cent, fall under the jurisdiction of the Ministry of Investment, Trade and Industry (Miti)/Mida, covering 500 projects with 18,517 new job opportunities.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the approved investments of almost RM84 billion for 1Q24 reflect how Malaysia has earned investors’ trust.

He added that working closely with Mida, his ministry has delivered not just the investment numbers, but also their speedy realisation to quickly translate these investments into business opportunities for SMEs and jobs for Malaysians.

Making reference to Malaysia’s drop in world competitiveness ranking by the International Institute for Management Development, Tengku Zafrul said the real proof of Malaysia’s competitiveness is in the actual, continuous inflow of investments.

Malaysia now places at 34 among 67 countries on the list, from 27 in 2023.

On a sectoral basis, Malaysia’s manufacturing sector experienced significant momentum with approved investments of RM43.0 billion, registering a jump of 174.9 per cent compared to 1Q23.

Mida said a total of 252 projects were approved, which would create 17,991 new employment opportunities.

Of these, 80.8 per cent or 14,528 are for Malaysians, with 50.6 per cent in management, professional, technical, supervisory, and skilled labour roles.

FI accounted for RM38.2 billion or 88.8 per cent of the total approved investments in the manufacturing sector.

DI contributed RM4.8 billion or representing 11.2 per cent of the total.

Meanwhile, the country’s services sector recorded RM39.3 billion in investments across 994 projects, creating 10,988 employment opportunities.

DI accounted for RM30.6 billion (77.9 per cent), while FI contributed RM8.7 billion (22.1 per cent).

Mida said DI’s robustness was driven by government incentives, a stable economic environment, strategic national initiatives for digital transformation and infrastructure enhancement, and supportive policies for local enterprise development.

On the other hand, the primary sector secured RM1.4 billion in approved investments across 11 projects, mainly in mining.

The approved investments, dominated by domestic sources with RM1.3 billion (88.7 percent), while foreign sources contributed RM161.1 million (11.3 percent), are expected to create 48 new jobs.

Since beginning of the year, Miti and Mida have executed nine high-level overseas investment missions to key countries such as Germany, France, Australia, Italy, Singapore and Japan.

According to Mida, as of May 31, 2024, it is actively pursuing 1,775 proposed projects worth RM68 billion, with 1,709 in the services sector (RM44.7 billion) and 66 in manufacturing (RM23.3 billion), while negotiations are ongoing for high-potential leads totaling RM60.4 billion.

The National Committee on Investment also approved 2,638 manufacturing projects between 2021 and March 2024. Notably, 77.2 per cent of these projects are in various stages of implementation, ranging from production to factory construction and machinery installations. Meanwhile, 21.1 percent are in the planning phase, focusing on initial steps like site selection and consultations with developers and consultants, while a minimal 1.6 per cent remain unimplemented. Malaysia also achieved a high ranking in the UN Trade and Development (UNCTAD) Technology and Innovation Report 2023, securing the seventh position in the industry rank and placing 32nd among 166 countries in the Frontier Technologies Readiness Index.

Source: NST

MIDA: Malaysia approved RM83.7b investments for January-March period, a 13pct jump from last year

Malaysia has recorded a total value of RM83.7 billion in approved investments across various sectors for the period from January to March 2024 (1Q 2024), representing a 13 per cent increase from RM74.1 billion in the same period last year.

Minister of Investment, Trade, and Industry (MITI) Tengku Datuk Seri Zafrul Abdul Aziz said approved investments of almost RM84 billion for 1Q 2024 reflect on how Malaysia has earned investors’ trust.

“Hopefully this momentum (investment) will continue, but there are many issues that may be quite challenging (among them) in terms of geopolitical trade issues that occur between this trade war between China and the US. We have to monitor this closely,” he told reporters after launching the Bursa Malaysia Bhd’s Centralised Sustainability Intelligence (CSI) Solution here today.

Meanwhile, Tengku Zafrul said in a statement that working closely with the Malaysian Investment Development Authority (MIDA), MITI has delivered not just the investment numbers, but also the speedy realisation to quickly translate these investments into business opportunities for small and medium enterprises (SMEs) and jobs for Malaysians.

He said the real proof of Malaysia’s competitiveness is in the actual, continuous inflow of investments into key target sectors outlined by the New Industrial Master Plan (NIMP) 2030, including in high-growth industries such as semiconductors, data centres, renewable energy and electric vehicles.

“This is why we will also continue to focus on longer-term industrial reforms and other strategic policy efforts to nurture a conducive investment ecosystem, to drive productivity as well as sustainable, inclusive growth that will pave the way for Malaysia to be one of the top 30 largest economies globally by 2033,” he said.

MIDA chief executive officer Sikh Shamsul Ibrahim said the 1Q 2024 investment performance is a testament to MITI and MIDA’s tireless dedication to attract investors and nurturing a fertile ground for growth and innovation.

“We are steadfast in our mission to propel Malaysia to unprecedented economic heights through strategic partnerships with MITI and other key ministries and agencies.

“Our vision is to shape Malaysia into a leader in technological prowess, sustainable practices and a thriving investment landscape,” he said.

With forward-thinking policies and bold initiatives, he said Malaysia stands as a premier destination for both global and local investors, driving prosperity for the rakyat, SMEs and the wider business community.

“This united effort will steer us towards a future of unparalleled growth and innovation,” he added.

According to MIDA, the total approved investments for 1Q 2024 comprise 1,257 projects, which are expected to generate 29,027 new job opportunities for Malaysians.

“Foreign investments accounted for 56.2 per cent, or RM47 billion of the total investments, while domestic investments made up the balance of 43.8 per cent, valued at RM36.7 billion.

“Austria topped the list of foreign investors by a very wide margin, with RM30.1 billion (64 per cent) in approved investments, followed by Singapore (RM5.6 billion), the Netherlands (RM3.6 billion), China (RM3.4 billion) and the United States (RM632.8 million),” it said.

In terms of states, MIDA said Kedah recorded the highest value of approved investments at RM31.3 billion, followed by Kuala Lumpur (RM21.5 billion), Selangor (RM12.4 billion), Sarawak (RM4.2 billion) and Johor (RM4.1 billion).

“Target sectors stipulated by the National Investment Aspirations (NIA) contributed RM53.7 billion, accounting for 64.1 per cent of the total approved investments across 252 projects, which are expected to create 17,056 new job opportunities.

“The NIA is built on five robust pillars: enhancing economic complexity, creating high-value job opportunities, expanding domestic linkages, developing new and existing clusters, and promoting inclusivity,” it said.

Of the total approved investments, MIDA said RM47.5 billion, or 56.8 per cent, fall under the jurisdiction of MITI/MIDA, covering 500 projects with 18,517 new job opportunities.

Malaysia’s manufacturing sector experienced significant momentum with approved investments of RM43 billion, registering a remarkable 174.9 per cent increase compared to 1Q 2023, with electrical and electronics (E&E) being the major industry underpinning manufacturing economic growth with approved investments of RM34.3 billion.

Source: Bernama

Malaysia records RM83.7 bln approved investments in 1Q 2024

Malaysian Investment Development Authority (Mida) aims to create a robust and sustainable economic environment to attract and retain significant investments, driving Malaysia towards a prosperous future.

Chairman Tan Sri Sulaiman Mahbob said the global investment environment has become increasingly competitive, leaving no room for complacency.

“The authority’s primary focus is on the comprehensive implementation of all government initiatives and mandates to achieve the desired outcomes aligned with the national agendas namely the 12th Malaysia Plan, Madani Economy Framework, New Industrial Master Plan 2030, and National Energy Transition Roadmap,” he said at the National Investment Seminar: Re-energising Domestic Investment, jointly organised by Mida and Federation of Malaysian Manufacturers (FMM) today.

Sulaiman said Mida is aligning its strategies with environmental, social and governance principles to attract high-value, innovative, quality, and sustainable investment projects. “Mida is keen to collaborate with partners focused on ‘impact investing’ and the goal is to empower the local supply chain, support companies in automating processes and enhance cost-efficiency while meeting industry demands and mitigating social and environmental impacts.”

He said foreign investment and domestic investment performance should be seen as opportunities not only to unlock financial returns but also to enhance social and environmental outcomes.

In addition, Mida is dedicated to empowering small and medium enterprises due to the crucial role they play in Malaysia’s economy.

“Mida has successfully organised 14 programmes and has reached out to more than 420 SMEs between January and March,” Sulaiman said. “With the SME investment desk, Mida will continue to work closely with companies and businesses as well as key partners such as FMM, to foster a more conducive business environment and increase growth opportunities.”

FMM vice-president Jacob Lee highlighted the importance of strong domestic investments, saying that strong domestic demand results in more foreign investment, and healthy domestic investment is essential for successful foreign investment.

“Domestic investments usually create more jobs, and this arises from the small and medium industries which provide employment opportunities and provide continuous opportunities to local industry players to expand their businesses,” he said.

Lee observed that foreign and domestic investments work together effectively, which highlights the exchange of knowledge from foreign investors, coupled with the necessity for a strong domestic industry to cater to foreign enterprises, foster innovation and the expansion of local businesses.

“Given adequate time and support, these domestic businesses can evolve beyond merely supporting foreign investments and can instead compete on a global scale, contributing to the international recognition and growth of the Malaysian brand,” he said.

Source: The Sun

MIDA to create robust, sustainable economic environment to attract investments

The Ministry of Investment, Trade, and Industry (Miti) today said Invest KL Corporation (InvestKL) will be parked under the Malaysia Investment Development Authority (Mida) from June 1, as part of its consolidation of investment promotion functions.

In a statement today, the ministry said the move follows resolutions of the National Investment Council (NIC) meetings to improve investors’ journey and eliminate duplicative functions.

Miti said the initiative reflects the Madani government’s overarching approach towards improved public resource use and better public service delivery.

“Miti will ensure a smooth transition, particularly in transferring InvestKL’s operations to Mida, and aligning all functions efficiently within Mida’s operational framework.  “During this transition phase, all existing investors under InvestKL will continue to be facilitated and guided accordingly, as Miti remains committed to positioning the Greater Kuala Lumpur area as a leading global services hub,” it added.

According to Miti, these efforts will also be implemented in tandem with, among others, a mapping of existing skills and expertise within Mida. 

t said this is crucial to support the efficient implementation of various key policies such as the New Industrial Master Plan (NIMP) 2030, the Chemical Industry Roadmap 2030 and the recently announced National Semiconductor Strategy.

“The transfer of InvestKL under Mida signifies the Madani government’s determination to ensure minimal duplication of investment promotion functions among all Investment Promotion Agencies (IPAs), and a cohesive approach to promoting investments for the country,” it noted.

Meanwhile, Miti also said it prioritises simplifying processes to enhance the investor experience, such as through the Invest Malaysia Facilitation Centre established in Dec 2023, a multi-agency centre based in Mida to speed up the resolution of investors’ administrative issues. 

Based on updated data for the first quarter of 2024 (1Q24), 725 cases were facilitated, out of which 612 cases (84.4 per cent) were completely resolved.

“As we move forward, Miti and its supporting agencies remain steadfast in our commitment to ensure that Malaysia remains a preferred destination for global and local investors. “This is while building on our current resources to develop a more resilient investment, trade and industrial landscape for the prosperity of the people, small and medium enterprises (SMEs) and investors,” it said.

Source: NST

MITI: InvestKL to be parked under MIDA from June 1

Malaysia stands out as a prime destination for investors looking to capitalise on the thriving electrical and electronics (E&E) industry within the region, said the Malaysian Investment Development Authority (MIDA).

In 2023, Malaysia’s manufacturing sector attracted a total of RM152 billion in approved investments, with the E&E industry securing the lion’s share of investments with RM85.4 billion, said MIDA, Invest Selangor Bhd and SEMICON Southeast Asia in a joint statement today.

“Ranked sixth globally for semiconductor exports, Malaysia plays a critical role in the global E&E supply chain.

“The nation is responsible for seven per cent of the global semiconductor trade and 13 per cent of global chip assembly, testing and packaging activities,” it added.

MIDA said six out of the 12 largest semiconductor companies currently operate in Malaysia, underscoring its strategic importance and attractiveness as a hub for major industry players.

In response to this growing interest, SEMICON Southeast Asia 2024 is featuring INVEST@Southeast Asia Pavilion, a dynamic platform for investment agencies or organisations to connect with potential investors keen on exploring opportunities in Malaysia.

MIDA chief executive officer (CEO) Sikh Shamsul Ibrahim Sikh Abdul Majid said the agency is steadfast in its commitment to position thriving E&E industry.

“With our investor-friendly policies, well-established infrastructure, and highly skilled talent pool, Malaysia offers an ideal environment for businesses seeking to establish and broaden their presence in Asia.

“Innovations such as nanometre technology, new semiconductor materials, sustainability-based processes, artificial intelligence (AI), and IoT-driven features are bifurcating and gaining significant momentum here,” he said.

As global leaders, it is imperative to stay ahead of the curve, and Malaysia’s supportive environment propels us towards this goal, Sikh Shamsul Ibrahim said.

“We are all the more ambitious than ever and look forward to showcasing Malaysia’s position as a strategic hub for innovation and investment at SEMICON Southeast Asia 2024,” he added.

Invest Selangor CEO Datuk Hasan Azhari Idris said the state offers a multitude of investment opportunities, apart from being a great place to work and live.

“Its robust economic growth is propelled by rich natural resources, world-class land, sea and air connectivity, and unrivalled urban commercialisation – an advanced commercial ecosystem,” he
said.

Meanwhile SEMI Southeast Asia president Linda Tan said MIDA and Invest Selangor’s collaboration and dedication towards driving investment opportunities during SEMICON Southeast Asia 2024 play a key role in attracting participants to the show.

“With their unwavering support, we are confident SEMICON Southeast Asia 2024 will be a dynamic platform for industry leaders, innovators, and stakeholders to come together, exchange ideas and explore the latest trends and opportunities in the electronics industry,” she said.

SEMICON Southeast Asia 2024 is held from May 28 to 30, 2024 at MITEC, Kuala Lumpur, with the theme ‘Boosting Agility and Resiliency of the Global Electronics Supply Chain’ and features two roundtable discussions at the Market and Industry Trends Forum – COLLABORATE@Southeast Asia and Forging Forward – Strengthening Malaysia’s Position in the Global E&E Value Chain.

Source: Bernama

Malaysia stands out as prime destination for investors to capitalise on E&E industry — MIDA

The Malaysian Communications and Multimedia Commission (MCMC) and the Malaysian Investment Development Authority will sign a memorandum of understanding to help micro, small and medium enterprises (MSMEs) adopt 5G for their businesses, Communications Minister Fahmi Fadzil said.

He said the MoU will be inked soon, within a week or two.

“This is in the process, since we have reached over 80 per cent COPA (coverage of populated areas) and since the adoption at this time is satisfactory… but it can be improved.

“The next step is for telcos or mobile network operators to complete the share subscription agreement process, their equity holdings in Digital Nasional Bhd (DNB),” he said at a press conference after the Cabinet meeting here today.

Fahmi said the Cabinet was informed the first meeting of the DNB board of directors was held yesterday where each of the five telcos was represented by a board member and given 20 days to make a decision.

“We hope to complete and finalise the equity holdings of the telcos.

“One of the conditions imposed on the telcos that want to be involved in the second network is they must complete this share subscription, that is, the equity holdings in DNB.

“Soon, the MCMC will announce a tender process that will allow companies that want to be involved in bidding for the second network,” he said.

Fahmi said the decision made today was a follow-up to decisions made on May 3 and August 23 last year, where the Cabinet agreed the implementation of the 5G network will shift from a single network to a dual network.

He said up till April 30 this year, the 5G network COPA had reached 81.5 per cent, while the acceptance or adoption rate for the 5G network reached 39.2 per cent.

“This is a 3.8 per cent increase compared with the end of March this year, which means as of the end of April, there are 13.2 million 5G accounts in our country.”

Source: Bernama

MCMC, MIDA to ink deal helping entrepreneurs adopt 5G — Fahmi

A series of investments in Malaysia that focused on the semiconductor industry signals the country’s shift to attracting investors in high-end manufacturing. 

Malaysian Investment Development Authority chairman Tan Sri Sulaiman Mahbob told the NSTP group that Malaysia had shifted from a nation that does assembly to one that manufactures high-end products which require more high-skilled workers.

“If you view it from a structural perspective, we have elevated to a more high-end industry. This can be seen in the technology industry, among which includes the semiconductor sector which has seen an increase in demand for high-skilled workers. 

“We are not merely in the assembly line anymore. All the investments that were announced showed that we have shifted to producing high-end products,” he said. 

Commenting on the need for talent in these uplifted industries, Sulaiman said Malaysia’s existing talent pool was able to adapt to the shift and already acquired basic skills. 

“We need to train and upskill these talents by providing courses that are needed by the industries. Our talents are able to adapt to these changes and they already have the basic skills. 

“With these skills, the companies that invest here will take these talents to the respective countries or the headquarters here for training,” he said.

Among notable semiconductor investments that Malaysia has secured are from German-based global semiconductor company, Infineon Technologies AG, which will invest up to 5.0 billion euros over the next five years to build the world’s largest 200mm silicon carbide (SiC) power fabrication (power fab) plant in Malaysia.

The company said the investment on its Kulim facility in Kedah will lead to an annual SiC revenue potential of about 7.0 billion euros by the end of the decade.

Meanwhile, Sulaiman said Malaysia still has its competitive edge to attract investors as reflected in the amount of approved investments recorded as of last year. 

“The amount of approved investments from 2021 until 2023 was high with a fast implementation of projects which was up to 70 per cent. This shows that the country is still competitive and can attract investments,” he added. 

Previously, MIDA stated that Malaysia achieved a historic investment performance in 2023, with RM329.5 billion of approved investments across various economic sectors.

Within the manufacturing sector alone, which accounted for RM152 billion of the total approved investments, 62.9 per cent or RM95.5 billion originated from existing businesses expanding and diversifying their operations.

Sulaiman, who is also the Malaysian Institute of Economic Research board of trustees chairman, said Malaysia is poised to achieve the estimated growth of between 4.0-5.0 per cent for this year. 

“It is still early (to tell) but I am confident that we can hit the 4.0-5.0 per cent target for gross domestic product. Between 4.2 and 4.3 per cent is definitely achievable,” he said. 

On the ringgit, Sulaiman added that the government needs to take measures that support local-made brands to offset the declining value of the local currency against the US dollar. 

Among key steps that the government can consider is sending scholars to local universities instead of abroad to avoid currency exchange. 

He said specific courses that do not have the expertise in Malaysia or post-graduate studies can be done abroad but undergraduate students can benefit more by studying locally. 

“Some of the courses we have here apply syllabus from international universities so the students can reap the benefit by studying locally as well,” he added.

Source: NST

Spate of investments in semiconductor signals Malaysia’s shift to high-end manufacturing: Sulaiman Mahbob

The Malaysian Investment Development Authority (Mida) and Shanghai-based integrated solar technology company LONGi have organised the Solar Synergistics Conference 2024 to serve as a dynamic platform uniting major solar enterprises and critical stakeholders across the solar industry supply chain.

In a joint statement yesterday, Mida and LONGi said the conference will coincide with the 50th anniversary of bilateral relations between Malaysia and China.

“With a turnout of over 200 participants comprising mostly engineering, procurement, construction, and
commissioning firms, also known as system integrator firms, the conference facilitated insightful discussions to drive Malaysia’s solar ecosystem forward.

“The event is timely with the recent announcement of the renewable energy programs launched on April 1, and the enhanced green tax incentives,” it said.

Mida CEO Sikh Shamsul Ibrahim Sikh Abdul Majid said Malaysia is dedicated to assuming a significant
role in the global effort to combat climate change.

“Solar energy stands out as a beacon of hope in our quest for sustainability. Its abundance, accessibility and renewability make it a key component for a transition towards a low-carbon economy.”

Shamsul said that by harnessing the power of the sun, Malaysia will not only reduce its dependence on
fossil fuels but also create opportunities for economic growth and job creation.

LONGi Asia Pacific president Frank Zhao echoed the company’s resolute commitment to Malaysia’s energy transition during the Solar Synergistics Conference 2024.

“We are dedicated to propelling Malaysia’s energy transition and fostering the development of a
comprehensive solar ecosystem,” he said.

Source: Bernama

MIDA, LONGi organise conference to advance solar power ecosystem

The strategic cooperation between the Malaysian Investment Development Authority (Mida) and the Ministry of Higher Education (MOHE) is expected to catalyse the country’s industrial growth, especially in supporting the development of more talents at the global level. 

Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said a trained and competitive workforce is key to the success of the New Industrial Master Plan 2030 (NIMP 2030).

“The shortage of skilled talent has become a constant issue among our investors, both domestic and foreign.

“Without a holistic solution on talent development and supply, Malaysia can never achieve the economic complexity, high-tech industrial ecosystem, net-zero target, or the economic security envisaged by the NIMP 2030,” he said at the memorandum of understanding (MOU) signing ceremony between MOHE and Mida here on Tuesday. 

The ceremony was also attended by Higher Education Minister Datuk Seri Zambry Abd Kadir.

Tengku Zafrul said the collaboration is in line with the aspirations of the Madani Economy framework, the NIMP 2030, and also the Malaysian Higher Education Action Plan 2022-2025 — which aims to create graduates and skilled talent to crown Malaysia among the 30 largest economies in the world by 2033.

He said that investment in the industrial sector is one of the most stable job creators for a country.

“This is the kind of slow but enduring capital that Malaysia needs,” Tengku Zafrul said.

For the 2021-2023 period, he noted that as many as 150,000 job opportunities have been created through 2,386 approved manufacturing projects.

Out of this, more than 81% have already been implemented and most of these opportunities are for high-income skilled talents for Malaysians.

“For manufacturing projects which have been approved for the 2021-2023 period so far, a total of 3,678 or more than 83% have been implemented, while 612 projects representing almost 14% are at the planning stage,” he said. 

Tengku Zafrul said that in 2023 alone, the project implementation rate showed that more than 63% or 559 projects had been implemented, covering projects in the production stage, factory construction, or machine/machinery installation.

“Typically, each project takes 18 to 24 months to implement. Next, almost 35% or 309 projects are at the planning stage, including activities such as location determination and discussions with developers and consultants

“Only 1.25% or 11 projects have yet to be implemented, and 0.45% or four projects cannot be implemented for certain reasons, including changes in investor strategy,” he explained.

Tengku Zafrul added that this rate is encouraging, because this investment is not like the capital market, where funds can go in immediately, but can also be withdrawn in just a few hours.

In addition, a “whole-of-nation” approach in fostering a resilient, robust and available industrial ecosystem with world-class talent is important for the ministry, government agencies and industry to ensure Malaysia remains competitive and investor-friendly, he said. 

“When we ensure a robust talent pipeline, we will strengthen Malaysia’s industrial capacity, and this is where we can push our value proposition that Malaysia is where global starts,” he said, adding that Malaysia is where global companies can situate their regional hubs, and where homegrown companies can grow into global champions. 

Source: Bernama

MIDA’s strategic cooperation with Higher Education Ministry to accelerate local industrial growth — Tengku Zafrul

Microsoft Corporation’ s ongoing investment in Malaysia underscores the country’s allure as a prime digital investment destination, boasting a compelling ecosystem for companies looking to establish operations in the region.

Malaysian Investment Development Authority (MIDA) chief executive officer (CEO) Sikh Shamsul Ibrahim Sikh Abdul Majid said this continued investment endorses Malaysia’s preparedness to emerge as a leading centre for technology, drawing significant interest from major tech enterprises.

“As digitalisation increasingly reshapes global economies, we welcome Microsoft’s announcement of new investments in Malaysia.

“We look forward to continuing to work with Microsoft to foster innovation in startups, create jobs, and harness the transformative power of artificial intelligence (AI) for the betterment of Malaysian society. AI now stands as a pivotal, game-changing technology that impacts us all,” he said in a statement. Microsoft yesterday announced

a substantial US$2.2 billion (RM10.5 billion) investment in cloud and AI infrastructure over the next four years, aligning with the ‘Bersama Malaysia’ initiative launched in 2021.

This initiative aims to elevate Malaysia as a premier digital hub, bolstering economic growth and inclusivity through innovative technology.

Microsoft’s chairman and CEO, Satya Nadella reportedly expressed the company’s commitment to supporting Malaysia’s AI transformation for the benefit of all Malaysians.

“We believe that Microsoft’s cloud and AI infrastructure will create a ripple effect of opportunities that bridge the digital divide while empowering businesses to thrive in the digital age.

“Malaysia has been taking steps to master and make good use of AI. By leveraging AI, this initiative promises to unlock new possibilities for innovation, economic growth and inclusivity,” said Sikh Shamsul Ibrahim.

He added Malaysia’s robust commitment to digital infrastructure has laid a strong foundation for its journey towards digitalisation.

Source: Borneo Post

Microsoft’s new investment highlights Malaysia’s appeal as digital investment hub — MIDA

Building on the success of last year’s launch of the National Biomass Action Plan 2023-2030, Malaysia is stepping up its commitment to sustainable energy, focusing on the integration of palm-based biomass. A pivotal session held at Mida Sentral brought together key stakeholders from the biomass ecosystem, demonstrating a concerted effort to drive high-value investments and progress towards Malaysia’s goal of achieving net-zero carbon emissions by 2050.

The guest of honour, Deputy Minister of Investment, Trade and Industry (Miti), YB Liew Chin Tong, joined by top officials including Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of Mida, and Mida’s Chairman, YBhg. Tan Sri Dato’ Seri Dr. Sulaiman Mahbob. Moderated by YBhg. Dato’ Sri Ahmad Shabery Cheek, Chairman of Felda, the meeting attracted 120 participants from the ministries, government agencies, GLICs, private sector, foreign chambers, academic institutions as well as financial institutions and aimed to catalyse the adoption of biomass technologies across various industries.

In his closing remarks, Deputy Minister YB Liew Chin Tong emphasised the government’s strategy to bolster the biomass sector, stating, “Biomass is often seen as the byproduct of the palm oil industry. It’s time forus to see biomass as the feedstock for new and advanced fuels as well as other green industries. The mindset shift means biomass is seen as a necessary enabler for new and high value-added industries that will help achieve the missions set out in the New Industrial Master Plan 2030.”

The session also featured two insightful presentations on “Overall Biomass Investment and Prospects” and “Palm-Based Biomass Market Trends,” which outlined opportunities to attract investments in high-value biomass products like biogas and biofuels.

Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid welcomed the participants, highlighting Mida’s role in fostering a favourable environment for the growth of the biomass industries in Malaysia. He remarked, “As Malaysia’s principal investment promotion agency, Mida continues to fulfill the Government’s agenda of attracting quality and sustainable investments from both domestic and foreign sources. We recognise the Government’s intention to promote investments that leverage innovative technologies to drive our economic growth, aligned with sustainable development goals. The biomass sector not only presents exciting business opportunities but also plays a crucial role in contributing to a circular economy for a sustainable future. In this regard, we are working to accelerate the use of biomass and help communities realise a clean energy future.”

YBhg. Tan Sri Dato’ Seri Dr. Sulaiman Mahbob commented on the investment trends, noting a fluctuation in the biomass sector since 2019 and the challenges this poses. “The scope of oil palm biomass is staggering, encompassing renewable energy, biofuels, biochemicals, bioplastics, bio-fertilizers, and more. However, we also observe a concerning trend of fluctuating investments in the biomass sector since 2019, not meeting our ambitious target of RM10 billion as set in the Twelfth Malaysian Plan (12MP).

This elusive goal underscores the challenges we face in harnessing the full potential of our biomass resources. Hence, Mida recognises the imperative of collective action between relevant authorities and stakeholders, as well as industry players to address challenges within the biomass value chain, including feedstock stability, mobilisation, and pricing mechanism, which are key to attracting long-term investment.”

This session highlighted Malaysia’s dedication to promoting sustainable investments in the biomass sector, crucial for achieving its Net-Zero Target by 2050 as per the Paris Agreement 2016.

Source: Borneo Post

MIDA generates high value investment in circular bio-econ for palm-based biomass

Malaysia attracted investments worth RM329.5 billion last year – the highest since the establishment of the Malaysian Investment Development Authority (MIDA) in 1967, said its outgoing chief executive officer Datuk Arham Abdul Rahman.

Notably, Arham, who was appointed to lead the agency back in April 2021, said it was indeed a remarkable success for the country in attracting foreign and domestic investments as well as achieving a favourable ranking in the US economic think tank Milken Institute’s Global Opportunity Index (GOI) 2024 last month.

“This success is a testament to our collective efforts. Not only MITI and MIDA, but this is about the whole country and also the government’s approach and initiatives that involve other ministries and agencies,“ he told Bernama in an interview here today.

The 61-year-old chief executive officer, who has served MIDA for 34 years and eight months, reminded that they should not rest on their laurels in boosting efforts to promote Malaysia’s attractiveness as other neighbouring countries are also eyeing a piece of the investment cake. “Even though we have achieved a good record in terms of the investments secured, especially in 2023, my advice is that we should not be complacent because there is still a lot of work to be done,“ he added.

Creation of jobs, economic resilience

On accomplishing objectives of the New Industrial Master Plan 2030 (NIMP 2030), Arham said the profile of investments has moved towards higher value-added and innovation-focused activities. Malaysia is very focused on attracting quality investments. He said this is to ensure that Malaysians can benefit from the jobs created and to secure the economy’s future and resilience.

“Malaysia is no longer dependent on low-skilled, labour-intensive investments but is focusing more on capital, knowledge and technology-intensive investments to create high-paying, high-quality jobs and contribute to sustainable investments aligned with Net-Zero objectives.

“Quality investment will spur the domestic investment landscape through knowledge and technology transfer,“ he added.

Therefore, Arham said MIDA would continue to attract targeted strategic projects with incentives under the National Committee on Investment (NCI) to develop local talents through internship programmes and to develop local vendors through the Vendor Development Programme (VDP).

He highlighted that the NIMP 2030 would guide Malaysia in attracting quality investments over the next six years, complementing broader national policies including the Mid-Term Review (MTR) of the 12th Malaysia Plan and the MADANI Economy Framework.

He said Malaysia’s targeted approach to foreign investments has so far been very effective in maximising the benefits while mitigating potential risks.

“It allows us to strike a balance between openness to foreign capital and safeguarding national interests, ultimately contributing to sustainable and inclusive economic development,“ he said.

Source: Bernama

Arham: Investments worth RM329.5b in 2023 the highest since establishment of MIDA

As a linchpin in advancing Malaysia’s economic development, the Malaysian Investment Development Authority (MIDA) is strategically driving top-tier investments into the nation.

Amid shifting global economic landscapes that challenge conventional resilience and supply chain strategies, MIDA distinctively aligns its efforts with the ambitious New Industrial Master Plan (NIMP) 2030, aiming to foster a complex and sustainable economic structure.

Under the visionary leadership of MIDA chief executive officer Datuk Arham Abdul Rahman, the organisation has dynamically crafted and pursued a strategy to secure high-value investments.

Concentrating on pivotal sectors such as aerospace, electrical and electronics (E&E), specialty chemicals, pharmaceuticals, medical devices, and the fast-evolving electric vehicle industry, MIDA is setting the stage for Malaysia to emerge as a global industrial powerhouse.

“Each sector is integral to our comprehensive strategy, positioning Malaysia as a competitive player in the global industrial arena,” Arham emphasised.

Strategic Impact of the Delivery Management Office

Highlighting its comprehensive role, MIDA is directly involved in 36 of the 62 action plans outlined in the NIMP 2030.

Given this extensive involvement, he said it was essential to establish an internally structured unit, known as the Delivery Management Office, that is dedicated to coordinating, monitoring, and reporting on the implementation of these action plans under MIDA’s purview.

This structured approach underscores MIDA’s commitment to ensuring effective and efficient execution of its strategic objectives, of which key roles include coordinating efforts across governmental and industrial sectors, monitoring progress, and ensuring effective communication of updates.

Arham said MIDA’s influence on Malaysia’s investment landscape is profound.

Through the development of conducive policies and attractive incentives, it has successfully lured significant investments into its targeted sectors, he added.

In 2023 alone, Malaysia saw a surge in investments, drawing RM329.5 billion across services, manufacturing, and primary sectors — an impressive 23.0 per cent increase from the previous year.

The E&E industry, particularly, has seen substantial growth, driven by MIDA’s strategic focus.

In 2023, notable E&E projects included significant expansions by companies like Infineon and X-Fab, which contributed to the highest-ever recorded investment figures in this sector.

“Our focus on the E&E sector not only caters to current global demands but also strategically positions Malaysia in the high-tech industrial space,” said Arham, who is retiring today.

Navigating Global Economic Uncertainties

Despite prevailing global economic uncertainties, MIDA’s strategies are deftly crafted to leverage these conditions to the country’s advantage.

“We don’t just react to global trends; we anticipate them to ensure Malaysia remains at the forefront,” Arham asserted.

These strategies include the integration of digital technologies and bolstering international collaborations, aligning with global innovation and investment patterns, he added.

The Malaysian government has already invested huge resources into becoming more digitally-focused while encouraging companies, particularly small and medium enterprises, to do the same.

“Our country is ahead of the curve on its digitalisation roadmap.

“Having a plan is one thing; executing it should go hand in hand. As such, with ongoing government support and international collaboration, we are poised to achieve the ambitious objectives
outlined in NIMP 2030,” said Arham.

As these strategic initiatives unfold, MIDA is steering Malaysia towards becoming a global leader in high-value industries, marking a significant stride in the nation’s economic development trajectory.

Source: Bernama

MIDA’s Strategic Role in NIMP 2030 to Attract High-Value, Quality Investments

The East Coast Rail Link-Economic Accelerator Projects (ECRL-EAPs) is set to boost socio-economic activities in various sectors such as construction, tourism, trade and industrial development, says the Malaysian Investment Development Authority (Mida).

The ECRL-EAP is an infrastructure project which started in April 2019 in collaboration with Mida and China Communications Construction Co.

Mida emphasised that the ECRL is replete with opportunities for local companies and it would be a huge loss if these were to go untapped.

Given that the project is the largest ever to be undertaken along the East Coast alignment, it would be ideal for all companies to seize opportunities that arise.

“Areas that could be further explored – being EAP enablers – are construction (products and services); renewable energy; sustainability products and services; education and training centres; shared utility service like waste management and research and development.

“This will create more economic opportunities and new jobs at each of the EAPs,” the agency told Bernama.

Mida also said that the successful implementation of the ECRL requires cooperation and collaboration among all stakeholders including local governments, key transportation players, government-linked investment companies (GLICs), financial institutions and local communities.

“Mida is eager to support businesses eyeing ECRL-EAP investments. This will enhance the project’s allure for investors.

“This effort is crucial in maintaining an edge over competing initiatives, like the proposed Thailand’s Kra Land Bridge.

“We are calling on more companies to join forces with the government via Mida, amplifying this groundbreaking initiative,” it said.

Mida will also promote programmes in Kelantan, Terengganu, Pahang and Selangor related to the ECRL-EAPs.

It has also initiated engagements with key stakeholders including local governments, industry associations, park managers and developers, GLICs and real-estate investment trusts to raise awareness of the EAPs and to reach a wider audience among potential investors.

“Participation from all stakeholders is highly important. Issues like environmental challenges – such as floods, infrastructure, utility readiness, zoning restrictions and land categorisations – have been identified.

“To address these concerns, Mida is currently working closely with key stakeholders such as utility providers, state governments, associations and developers and other key stakeholders to make sure that the issues are addressed and an enabling environment is provided for development and investment along the route,” it said.

Mida, through the domestic investment coordination platform (DICP), which is under the domestic investment division, plays a role in connecting investors with financiers.

According to the agency, the DICP facilitates direct engagement between investors and financiers, allowing them to discuss funding options, negotiate terms and explore alternative financing arrangements.

The ECRL is a Malaysian project costing RM50.27bil. It is currently under construction and aims to connect the east coast city of Kota Baru in Kelantan to Port Klang, Selangor, on the the west coast.

The electrified train will run on a standard gauge double-track railway connecting the East Coast Economic Region states of Pahang, Terengganu and Kelantan to the central region.

It is expected to spur economic growth in areas along its route.

Spanning 665km, the ECRL is poised to be a game changer for Malaysia, linking the country closely to the Pan-Asia railway network and enhancing connectivity with Asean and Eurasia regions.

The project is targeted for completion in December 2026 and operational in January 2027.

The ECRL is expected to raise Malaysia’s gross domestic product by 3.8% in 2047 by enhancing trade, boosting tourism and stimulating regional development.

The ECRL-EAPs are anticipated to generate RM1.4 trillion for the Malaysian economy by 2047, with a focus on industrial parks, logistic hubs and transit-oriented developments.

“This strategic initiative aims to improve connectivity and economic activities along the ECRL route and to ensure inclusive growth across all participating states.

“The EAPs seek to tackle income and wealth disparities by fostering a shared prosperity agenda,” said Mida.

As of February 2024, the project had reached 62.4% completion, with each state’s alignment progressing steadily.

Source: The Star

Opportunities in ECRL-related projects

The Malaysian Investment Development Authority (Mida) has appointed Sikh Shamsul Ibrahim Sikh Abdul Majid as its new chief executive officer, effective April 18, 2024.

Sikh Shamsul will be succeeding Datuk Arham Abdul Rahman who retires on April 17, Mida said in a statement today.

“Since joining Mida in 1996, Sikh Shamsul has occupied various leadership roles, including executive director for manufacturing development and investment promotion, and most recently, senior executive director of investment policy advocacy.

“He brings approximately 28 years of dedicated service to Mida, during which he has been pivotal in defining the strategic direction of the agency and elevating Malaysia’s investment environment,” said the agency.

Mida said Sikh Shamsul has led initiatives that significantly bolstered both domestic and foreign investments, showcasing his profound grasp of economic trends and policy advocacy.

“This strategic appointment underscores Mida’s commitment to fostering economic growth and diversification, in line with its mission of building dynamic and sustainable investment ecosystems to attract quality investments,” it said.

Meanwhile, MIDA also lauded Arham for being instrumental in steering the agency towards groundbreaking achievements since becoming its chief executive officer on April 1, 2021.

“Under his leadership, Mida has seen historical achievements in approved investments and unprecedented growth in areas such as high-tech investments and digital transformation.

“These have significantly enhanced Malaysia’s economic resilience and competitiveness on the global stage,” it added. 

Source: Bernama

MIDA appoints Sikh Shamsul as new CEO

The Malaysian Investment Development Authority (Mida) plays an instrumental investment facilitator role in removing obstacles for prospective investors, said Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

He noted that Mida, which was established in 1967, has now transformed into Malaysia’s key investment promotion and marketing agency, a strategic move to strengthen the country’s investment landscape, ensuring that the nation remains a competitive and attractive investment destination.

“It is on that note that I would like to further expand on Mida’s contribution to Malaysia’s socio-economic growth, and what better way to recognise Mida’s valuable legacy than through the coffee-table book that we are launching,” he said at the launch of the coffee-table book, titled “Stepping Stones: Mida’s Journey”, here on Tuesday.

Also present was Mida’s chief executive officer (CEO) Datuk Arham Abdul Rahman and Hong Leong Bank (HLB) group managing director and CEO Kevin Lam.

The book was penned by Malaysian National News Agency (Bernama) former chairman Datuk Seri Azman Ujang and former editor-in-chief Datuk Yong Soo Heong, along with biographer and publisher Bernice Cynthia Narayanan.

Tengku Zafrul said that the book is a must-read for anyone looking to delve into Malaysia’s industrial policymaking and nation-building journey, post-independence.

“I was told that the ‘Stepping Stones: (Mida’s Journey)’ book project began a decade ago, so I must say well done to Datuk Arham, whose leadership eventually brought Mida’s stories from concept to print. 

“The collaboration with Mida also goes deeper than a simple partnership; banks like Hong Leong [Bank Bhd] (HLB) have a key role to play in supporting a vibrant industrial and investment ecosystem, and in advancing Malaysia’s socio-economic prosperity,” he added.

Meanwhile, in a joint statement on Tuesday, Mida and HLB said they have inked a memorandum of understanding, forming a strategic collaboration that pledges to support the overall investment ecosystem and provide comprehensive financing and banking services for businesses entering the Malaysian market.

The collaboration is aligned with the government’s commitment to making Malaysia the chosen investment destination for foreign and domestic investors and businesses, the joint statement said.

The agreement marks a commitment by both parties to foster a strategic alliance that promotes sustained business growth and engagement across Malaysia’s small and medium enterprises and commercial sectors, Mida and HLB said.

Source: Bernama

Tengku Zafrul: MIDA a vital instrument to remove obstacles for prospective investors

Hong Leong Bank Bhd (HLB) has formed a strategic collaboration with the Malaysian Investment Development Authority (Mida), pledging to support the country’s overall investment ecosystem and provide comprehensive financing and banking services for businesses entering the Malaysian market.

Malaysia approved RM329.5bil in investments across various economic sectors for 2023.

Boosted by the recent injection of investments and a robust economic framework, the government hopes to elevate Malaysia’s standing on the global stage, establishing the country as a prime investment destination by ensuring a seamless and integrated investment process, the two parties said in a joint statement.

The agreement also marks a commitment by both parties to foster a strategic alliance that promotes sustained business growth and engagement across Malaysia’s small and medium enterprises and commercial sectors, said HLB and Mida.Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, who witnessed the signing of the memorandum of understanding (MoU) for the collaboration, said the key to all development activities is partnership.

“Partnerships with government, civil society and the private sector are crucial for nation-building as well as regional cooperation. Through such partnerships, we are setting the stage for Malaysia to shine as a preferred investment destination.

“The Mida-HLB MoU aligns with our roadmap for a thriving economy, with opportunities for all, enabling us to look forward to a future where we build on our proud achievements, and collaborate towards more economic innovation and success,” Tengku Zafrul added.

“The collaboration with Mida also goes deeper than a simple partnership; banks like HLB have a key role to play in supporting a vibrant industrial and investment ecosystem, and in advancing Malaysia’s socio-economic prosperity,” he added.

Tengku Zafrul noted that Mida, which was established in 1967, has now transformed into Malaysia’s key investment promotion and marketing agency, a strategic move to strengthen the country’s investment landscape, ensuring the nation remains a competitive and attractive investment destination.

Source: The Star

Hong Leong Bank signs MoU to promote investments in Malaysia

The East Coast Rail Link-Economic Accelerator Projects (ECRL-EAPs) is set to boost socio-economic activities within various sectors such as construction, tourism, trade and industrial development, said the Malaysian Investment Development Authority (Mida).

The ECRL-EAP is an infrastructure project which started in April 2019 in collaboration with Mida and China Communications Construction Company (CCCC).

Mida emphasised that the ECRL is replete with opportunities for local companies and it would be a huge loss if these were to go untapped. Given that the project is the largest ever to be undertaken along the East Coast alignment, it would be ideal for all companies to seize opportunities that arise.

“Areas that could be further explored — being EAP enablers — are construction (products and services); renewable energy; sustainability products and services; education and training centres; shared utility service like waste management, research and development.

“This will create more economic opportunities and new jobs at each of the EAPs,” the agency told Bernama.

Mida also said that the successful implementation of the ECRL requires cooperation and collaboration among all stakeholders, including local governments, key transportation players, government-linked investment companies (GLICs), financial institutions and local communities.

“Mida is eager to support businesses eyeing ECRL-EAP investments. This will enhance the project’s allure for investors. This effort is crucial in maintaining an edge over competing initiatives, like the proposed Thailand’s Kra Land Bridge.

“We are calling on more companies to join forces with the government via Mida, amplifying this groundbreaking initiative,” it said.

Mida will also promote programmes in Kelantan, Terengganu, Pahang and Selangor related to the ECRL-EAPs. It has also initiated engagements with key stakeholders including local governments, industry associations, park managers and developers, GLICs and real-estate investment trusts to raise awareness of the EAPs and to reach a wider audience among potential investors.

“Participation from all stakeholders is highly important. Issues like environmental challenges, such as floods, infrastructure, utility readiness, zoning restrictions, and land categorisations, have been identified.

“To address these concerns, Mida is currently working closely with key stakeholders such as utility providers, state governments, associations and developers, and other key stakeholders to make sure that the issues are addressed and an enabling environment is provided for development and investment along the route,” it said.

Mida, through the domestic investment coordination platform (DICP), which is under the domestic investment division, plays a role in connecting investors with financiers.

According to the agency, the DICP facilitates direct engagement between investors and financiers, allowing them to discuss funding options, negotiate terms, and explore alternative financing arrangements.

The ECRL is a Malaysian project costing RM50.27 billion. It is currently under construction and aims to connect the east coast city of Kota Bharu in Kelantan to Port Klang, Selangor on the the west coast.

The electrified train will run on a standard gauge double-track railway connecting the East Coast Economic Region states of Pahang, Terengganu, and Kelantan to the central region. It is expected to spur economic growth in areas along its route.

Spanning 665 kilometres, the ECRL is poised to be a game changer for Malaysia, linking the country closely to the Pan-Asia railway network and enhancing connectivity with Asean and Eurasia regions.

It is targeted to be completed in December 2026 and operational in January 2027. The ECRL is expected to raise Malaysia’s gross domestic product (GDP) by 3.8 per cent in 2047 by enhancing trade, boosting tourism, and stimulating regional development.

The ECRL-EAPs are anticipated to generate RM1.4 trillion for the Malaysian economy by 2047 with a focus on industrial parks, logistic hubs, and transit-oriented developments (TODs).

“This strategic initiative aims to improve connectivity and economic activities along the ECRL route and to ensure inclusive growth across all participating states. The EAPs seek to tackle income and wealth disparities by fostering a shared prosperity agenda,” said Mida.

As of February 2024, the project is 62.4 per cent complete, with each state’s alignment progressing steadily.

Source: Bernama

ECRL-related projects to boost socio-economic activities in various sectors — MIDA

The Malaysian Investment Development Authority (MIDA) has approved 4,230 green technology projects worth RM41 billion until 2023, said Deputy Minister of Investment, Trade and Industry Liew Chin Tong.

He noted that the government’s comprehensive ‘whole-of-government’ approach has yielded significant growth in green technology investments.

“This underscores Malaysia’s potential in green technology investment. It has been noted that most approved projects are in the solar segment,“ he said during a question and answer session in the Dewan Negara today.

He was replying to Senator Datuk Dominic Lau Hoe Chai’s query regarding the government’s strategic plan to enhance investment in green technology.

Liew said the government has enhanced the Green Technology Incentive through a tiered approach to further incentivise investment in green technology.

He elaborated that the incentives now encompass a broader range of green investment activities, including green hydrogen, electric vehicle charging stations, and wind energy.

“This enhancement aims to spur both new and existing companies to invest, thereby advancing the goal of achieving a carbon-neutral country by 2050,“ he added.

Source: Bernama

MIDA approves 4,230 green tech projects worth RM41 bln up to 2023

Foreign Minister Datuk Seri Mohamad Hasan wants Malaysian ambassadors and High Commissioners to be knowledgeable on trade aspects to attract investment into the country.

He said that apart from maintaining good bilateral relations with other countries, expertise in exploring and attracting investment and trade is crucial to drive the country’s economy forward.

“Foreign policy should not only follow the standard operating procedures (SOPs) when it comes to building and maintaining bilateral diplomacy.

“I want the Ministry of Foreign Affairs, ambassadors and High Commissioners to also be competent in trade to attract as many investors as possible to Malaysia,“ he told reporters after the Khatam Al-Quran Ramadan event held here today in conjunction with Nuzul Al-Quran.

Mohamad, who is also Rembau MP, said apart from the role of the Malaysian Investment Development Authority (MIDA) and Malaysia External Trade Development Corporation (MATRADE) in attracting investments, it is more effective for the envoys to speak directly to investors and convince them.

He suggested that newly appointed envoys should first be placed in MIDA to familiarise themselves with the investment environment and effectively persuade potential investors to invest in Malaysia.

Source: Bernama

Malaysian envoys urged to be savvy on investment, trade

The planning and implementation of a 10-gigawatt renewable energy (RE) project signed by the Malaysian Investment Development Authority (Mida) and United Arab Emirates company Abu Dhabi Future Energy Co PJSC (Masdar) is a commercial arrangement between the two entities.

Deputy Prime Minister and Minister of Energy Transition and Water Transformation Datuk Seri Fadillah Yusof said that in this regard, the planning and implementation of the project’s joint venture will be determined by both parties.

“However, the government adheres to the policy that approval for the development of RE projects in this country must be carried out transparently, fairly and based on current regulatory provisions.

“Therefore, Masdar’s investment, like other RE development companies in the country, needs to be done through participation in the existing RE programmes that are being and will be implemented,” he said.

According to him, existing RE programmes include the Large Scale Solar (LSS) Programme for utility-scale solar development; Feed-in Tariff Programme for the development of non-solar resources; New Enhanced Dispatch Arrangement Programme for the development of non-solar resources; and Rooftop Solar Programme for solar installation on the roof of building premises.

Fadillah was replying to an oral question from Yeo Bee Yin (PH-Puchong) on the implementation of the collaboration and the party responsible for the “off take” of RE in Dewan Rakyat today.

At the same time, Fadillah said, the government planned and drafted the implementation of third party access (TPA) to enable developers to supply RE directly to consumers by using the grid infrastructure of utility companies.

Therefore, according to him, the RE offtaker for the investor company will be determined based on the type of RE programme that the company participates in.

“For example, if a company participates in the LSS programme, then the energy offtaker is the utility or Tenaga Nasional Bhd (while) if an investor participates in the rooftop solar programme, then the energy offtaker under this programme is the electricity user himself.

“If the company participates in the TPA programme in the future, then the corporate user who has a contractual relationship with the developer will be an offtaker for the RE generated,” Fadillah explained.

Overall, he said, the entry of new capacity by Masdar and other RE developer companies should be based on the planning and development of electricity supply generation agreed by the government and carefully refined taking into account all economic, technical and regulatory aspects.

Fadillah said this approach will ensure the introduction of intermittent solar sources will not affect the capacity and safety of the grid system and infrastructure, provide fair and equitable opportunities and competition while safeguarding the interests of local RE industry players.

Source: Bernama

MIDA, Masdar to determine planning, implementation of RE project