kuala lumpur: Malaysia attracted investments worth RM329.5 billion last year, the highest amount since Malaysian Investment Development Authority (Mida) was established in 1967, outgoing CEO Datuk Alham Abdul said. Rahman said.
Notably, Mr. Arham, who was appointed to head the agency in April 2021, has attracted domestic and foreign investment and achieved a favorable ranking in the Global Opportunity Index of the Milken Institute, a US economic think tank. It was indeed a remarkable success for the country. Last month was 2024.
“This success is a testament to our collective efforts. It’s not just Mithi and Midha, this is a national issue and involves the government’s approach and efforts involving other ministries,” he said. told Bernama in an interview here today.
Mr Arham, 61, who has been with Mida for 34 years and eight months, said the current He said we should not rest on our laurels. “Even if we achieve a good record in terms of investments secured, especially in 2023, my advice is that we should not get complacent because there is still a lot of work to do,” he added.
On achieving the goals of the New Industries Master Plan 2030 (NIMP 2030), Arham said the investment profile is shifting towards higher value-added and innovation-focused activities. Malaysia is very focused on attracting quality investments. He said this is to ensure Malaysians benefit from the jobs created and secure the future and resilience of the economy.
“Rather than relying on low-skilled and labor-intensive investments, Malaysia needs to invest in capital, knowledge and More focus on technology-intensive investments.
“Quality investments will foster the domestic investment climate through knowledge and technology transfer,” he added.
Accordingly, Mida will continue to attract targeted strategic projects under the National Investment Board with incentives to develop local talent through internship programs and develop local vendors through vendor development programs. Arham said.
He stressed that NIMP 2030 will guide Malaysia in attracting quality investments over the next six years and complements broader national policies, including the mid-term review of the 12th Malaysia Plan and the Madani Economic Framework.
He said Malaysia’s targeted approach to foreign investment has so far been highly effective in maximizing returns while mitigating potential risks.
“This allows us to strike a balance between openness to foreign capital and protecting national interests, ultimately contributing to sustainable and inclusive economic development,” he said. – Bernama
