MIDA Launches Istanbul Office As A Gateway For Malaysia-Türkiye Cross-flow Investments

From Left:
YBhg. Datuk Lokman Hakim Ali, Secretary General of MITI; YBhg. Datuk Wira Arham Abdul Rahman, MIDA CEO; YB. Dato’ Seri Mohamed Azmin bin Ali, Senior Minister and Minister of International Trade and Industry; Mr. A.Burak Dağlıoğlu, President of Invest In Turkey; Ms. Suheyla Cebi Karahan, Chairperson of DEIK Turkey Malaysia Business Council; Mr. Çağatay Özden, Head of Department Ministry of Trade of Turkey South Asian Countries; YM Tengku Mohd Dzaraif Raja Abdul Kadir, Consul General of Malaysia in Istanbul.

30 September 2022, MIDA officially launched its newest office in Istanbul. The historical day is evidence of stronger Malaysia-Türkiye’s bilateral trade and investment relations.

MIDA Istanbul was officiated by the Senior Minister and Minister of International Trade and Industry (MITI), YB. Dato’ Seri Mohamed Azmin Ali, in the presence of Secretary General, YBhg. Datuk Lokman Hakim Ali, MIDA Chief Executive Officer, YBhg. Datuk Wira Arham Abdul Rahman, MATRADE Chief Executive Officer, YBhg. Datuk Mustafa Abdul Aziz, Consul General of Malaysia in Istanbul, YM Tengku Mohd. Dzaraif Raja Abdul Kadir, Invest Türkiye President, Mr. A. Burak Dağlıoğlu, and Türkiye Ministry of Trade Head of Department, Mr. Catagay Ozden.

MIDA Istanbul office signifies MIDA’s continuous efforts in attracting Türkiye high-value and high-tech investments into Malaysia. These include targeted sectors such as advanced manufacturing (machinery and equipment, aerospace and food manufacturing including the Halal segment) and services (ICT and digital business). Over the decades, Malaysia’s expertise in connectivity and business-friendly policies are the magnets that have drawn greater investments from all over the globe.

MIDA Istanbul will also serve as a main gateway for Malaysian businesses to expand their commercial interests and investment horizons in Türkiye and beyond, including adjoining regions such as the Middle East and the European Union. This is in line with Malaysia’s initiative to strengthen cross-border investments to facilitate more Malaysian companies to invest globally.

As Malaysia is centrally located in Southeast Asia, the country serves as the prime gateway for Turkish investors to penetrate the ASEAN market. Similarly, Türkiye is also strategically located at the crossroads of Europe, Central Asia, Middle East and North Africa. Malaysian companies should consider using Türkiye as a base to tap into the large European market as well as the emerging markets of Central Asia and the Middle East.

For the first half of 2022, Malaysia attracted a total of RM123.3 billion (USD28.0 billion) worth of approved investments in the manufacturing, services and primary sectors involving 1,714 projects that are cumulatively expected to create 57,771 job opportunities in the country.

Foreign direct investments (FDI) remained the major contributor, at 70.9% or RM87.4 billion (USD19.9 billion), while investments from domestic sources contributed 29.1% or RM35.9 billion (USD8.2 billion).

With the newly-launched MIDA Istanbul office, Türkiye will no doubt contribute immensely to Malaysia’s socio-economic development and bring about new growth areas in the country’s investment landscape.

For more information, contact MIDA Foreign Investment Division or email to [email protected].