The Malaysian Investment Development Authority (MIDA) kickstarted their 2022 to build relationships in appreciating partners and stakeholders’ contribution towards MIDA in 2021.
During their annual media appreciation and networking event, YBhg. Dato’ Arham Abdul Rahman, Chief Executive Officer of MIDA, thanked the unwavering commitment and support from the media team in helping MIDA highlight Malaysia’s potential as an investment destination in 2021 and shared a brief insight into the organisation’s theme for this year, “Rebuilding a sustainable economy through quality investment and strategic investment supply chain development in 2022”.
The Government, via MIDA, remains focused on attracting high-quality investments from foreign and domestic companies into Malaysia through various investment strategies and policy initiatives amid the COVID-19 pandemic.
From January to September 2021, Malaysia attracted RM177.8 billion approved investments in the manufacturing, services and primary sectors and generated 79,899 job opportunities. Within the first nine months of 2021, foreign direct investments (FDI) contributed RM106.1 billion, accounting for nearly 60 percent of the total approved investments.
The remainder, 40.3per cent or RM71.7 billion, were channeled from domestic direct investments (DDI), thanks to the existing and new aspiring local companies meeting the growing industrial needs of different MNCs.
Many Fortune 500 and local companies made pivotal decisions to leverage Malaysia’s role as a strategic supply chain hub with cost advantages and pro-business policies, a friendly economic environment and ASEAN trade and bilateral relations.
YBhg. Dato’ Arham Abdul Rahman shared, “We focused on accelerating the adoption and adaptation of digitalisation to transition brick and mortar hubs into “smart factories” to enhance flexibility and optimise productivity and growth remotely.
We strive to ensure that Malaysia remains welcoming of investors by rolling out several game-changing measures to ease the challenges of operating businesses in the country while encouraging and facilitating the adoption of technology, innovation and research by companies”