MIDA has 249 projects with potential investments of RM14.6 bln in pipeline

MIDA has 249 projects with potential investments of RM14.6 bln in pipeline

08 Mar 2023

The Malaysian Investment Development Authority (MIDA) has a number of promising projects in the works with potential investments totalling RM14.6 billion.

The manufacturing sector has 31 projects with a potential investment of RM10.6 billion, while the services sector has 218 projects with a potential investment of RM4 billion.

Chairman Tan Sri Dr Sulaiman Mahbob said, despite the global economic landscape’s challenges, Malaysia has shown unwavering determination in navigating these difficult times.

This reflects the Ministry of International Trade and Industry( MITI) and MIDA’s commitment to promoting sustainable economic growth and job creation in Malaysia, he said during the MIDA annual media conference on Malaysia’s investment performance for 2022 here, today.

“We are focused on attracting more high-quality and sustainable investments. Hence, we are expanding our presence into new high-value clusters so as to create a high return to the economy,” he said.

Sulaiman said to transform Malaysia into a supply chain hub in Asia, MIDA aspires to entice new high-value investments in the technology sector, accelerate the digital economy to innovate service and commercial products, extend domestic linkages, and build new bilateral and trade relations to ensure the country remains as an ideal destination for Fortune 500 companies and emerging unicorns.

“Malaysia has seen immense success over the past five decades, and we are determined to keep pushing forward for new markets and empowered communities,” he noted.

Source: Bernama