MIDA: Negeri Sembilan Has The Card To Attract Foreign Investments

The Malaysian Investment Development Authority (MIDA) is currently negotiating RM81.9 billion worth-investments from 240 high profile projects including Fortune 500 companies.

MIDA’s Strategic Planning And Development Senior Executive Director, Ahmad Khairuddin Abdul Rahim said these 240 companies are actually being target across the world to pursue them to invest in Malaysia.

“A few may be of within Fortune 500 group network, but we are still at the very early stages of negotiations by our international offices. They are mostly within the manufacturing sectors and a few in-services subsectors,” Khairuddin said.

Khairuddin stated that MIDA’s also have received an additional RM65.9 billion in investment that is currently being evaluated.

Based on internal records, these investments are mainly from the automotive, chemical, and advance electronic sectors.

“With this, Negeri Sembilan has the card to attract investments into the said areas because the state has the Malaysian Vision Valley (MVV) along with the automotive, chemical and the advantageous electronic industries.

“These are the potential areas for both Malaysia and Negeri Sembilan to attract investors from overseas,” said Khairuddin.

MVV is an integrated economic region complementing the development of Greater Kuala Lumpur and the National Conurbation and is a new growth area located in the state of Negeri Sembilan named MVV 2.0.

It is a state-led private sector-driven development envisioned to be a world-class metropolis that is Competitive, Inclusive and Clean.

Khairuddin further stated that Negeri Sembilan’s investment landscape is gaining momentum and 2020 attracted the most number of investments.

“If we look in into our 2020 performance, yearly investments are 25% from electrical & electronic; 23% chemicals & chemical product; 22% in F&B industry; 10% food manufacturing; 6% transport equipment; 5%rubber product; and 9% from sectors.

“Some notable companies approved in Negeri Sembilan are On Semiconductor, Dutch Lady, Cabot, Coca Cola, Petron, Worldsign Industries among others,” Khairuddin added.

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