Zafrul: National Investment Council to be established

Zafrul: National Investment Council to be established

08 Mar 2023

The National Investment Council (MPN) will be established to plan an investment-related agenda as well as ensure the empowerment of investment governance in the country.

International Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the MPN is chaired by the prime minister and the first meeting will be held in the near future.

“The establishment of MPN is important as it coincides with the effort to plan the investment agenda according to the interests of the country especially related to strategic investment with commitment at the highest level of the country,” he said during the winding up debate on the Supply Bill 2023 at the policy level in Parliament on Wednesday (March 8).

In addition, Tengku Zafrul said, the Ministry of International Trade and Industry (MITI) will focus on the goals of the New National Investment Policy based on the National Investment Aspiration (NIA) which involves five main cores.

“This New Investment Policy also focuses on inclusion and sustainability which is in line with environmental, social and governance (ESG) goals,” he said.

Meanwhile, Tengku Zafrul said the ministry through the Malaysian Investment Development Authority (MIDA) has established a special unit, the ‘Industrial Estate Unit’, to monitor and develop industrial parks to attract quality investments.

MITI has also received a development expenditure allocation from the Economy Ministry amounting to RM10 million for 2023 for a programme to upgrade the basic infrastructure of existing industrial areas.

“However, there is a need to apply for additional allocations to ensure the capacity and maintenance of the 700 industrial areas in the country are at their best,” he added.

Source: Bernama