MIDA’s newest office in Istanbul is set to provide Malaysia and Türkiye with new economic opportunities and drive the steady growth of Malaysia-Turkiye’s bilateral trade relations. MIDA Istanbul will serve as a gateway for aspiring Turkish investors who wish to expand their businesses in Malaysia and vice-versa. Investors will be able to gain access to the latest information on investment policies and opportunities, joint venture partnerships, or technological collaborations.
The opening of MIDA’s office in Istanbul is to fully exploit the potential upside for enhanced Turkish investments in manufacturing and services, particularly in the areas of advanced manufacturing, machinery and equipment, aerospace, digital investment, ICT, and food manufacturing including the Halal segment. This is in tandem with the National Investment Aspirations (NIA).
In terms of Türkiye’s investments in Malaysia, as of June 2022, a total of 14 manufacturing projects were approved with total investments worth RM525.2 million (USD156.3 million). Among sectors of the approved manufacturing projects include scientific and measuring equipment, textiles and textiles products, chemical and chemical products, food manufacturing; and electrical and electronics products. Four manufacturing projects with Turkish investments worth RM377.93 million (USD111.6 million) have been implemented in Malaysia.
