kuala lumpur: The Malaysian Investment Development Authority (Mida) aims to create a robust and sustainable economic environment to attract and retain significant investment and lead Malaysia towards a prosperous future.
Chairman Tan Sri Sulaiman Mahbob said the global investment environment was becoming increasingly competitive and there was no room for complacency.
“The authority’s main focus is the comprehensive implementation of all government initiatives and directives to achieve desired outcomes in line with the national agenda such as the 12th Malaysia Plan, Madani Economic Framework, New Industry Master Plan 2030 and the National Energy Transition Roadmap,” he said at the National Investment Seminar on “Reinvigorating Domestic Investment” jointly organised by Mida and the Federation of Malaysian Manufacturers (FMM) today.
Sulaiman said Mida has developed a strategy that is aligned with environmental, social and governance principles, seeking to attract high-value, innovative, high-quality and sustainable investment projects. “Mida is keen to work with partners that focus on ‘impact investing,’ with the goal of strengthening local supply chains and helping companies automate processes, increasing cost efficiencies while meeting industry demand and reducing social and environmental impacts.”
He said the performance of foreign and domestic investment should not only be seen as an opportunity to derive financial benefits but also to enhance social and environmental outcomes.
Additionally, Mida is committed to supporting SMEs given the important role they play in the Malaysian economy.
“Mida successfully organized 14 programs between January and March, reaching out to more than 420 SMEs,” Sulaiman said. “Through the SME Investment Desk, Mida will continue to work closely with companies and entities, as well as key partners such as FMM, to foster a more favorable business environment and increase opportunities for growth.”
FMM Vice Chairman Jacob Lee stressed the importance of strengthening domestic investment, saying strong domestic demand will attract more foreign investment and that healthy domestic investment is essential to the success of foreign investment.
“Domestic investment usually creates more jobs, which come from small and medium-sized enterprises that provide employment opportunities and offer local industry players continued opportunities to expand their businesses,” he said.
Li noted that foreign and domestic investments work together effectively, highlighting the need for knowledge exchange by foreign investors and a strong domestic industry that caters to the needs of foreign businesses, fosters innovation and expands local companies.
“Given enough time and support, these local businesses will go beyond simply supporting foreign investment to compete on a global scale and contribute to the international recognition and growth of the Malaysian brand,” he said.
