The Ministry of International Trade & Industry has stated that the Ministry and its agencies have an existing robust and comprehensive monitoring and facilitation mechanism to monitor and secure commitments on potential investments and exports made through the Ministry’s Trade and Investment Missions, or other means. In ensuring the implementation of approved projects, potential investments will be followed up by the Malaysian Industrial Development Authority (MIDA) and InvestKL, whereas potential exports will be pursued by the Malaysia External Trade Development Corporation (MATRADE).
“MITI’s monitoring and facilitation of projects are also supported by the global and national networks of MITI, MIDA, InvestKL and MATRADE. This enables MITI and its agencies to be highly responsive in providing support to ensure that announced commitments – be it on investments or exports – are well facilitated and materialised. Further, I have also emphasized on the proper monitoring of KPIs for each project, which must support our national goals including providing more higher-paying jobs for Malaysians, ensuring knowledge transfers, and moving SMEs further up the value chain,” said
Minister Tengku Datuk Zafrul Aziz.
He cited examples of appropriate tracking of potential projects and leads including MIDA’s online real-time Investment Tracking Mechanism, by MIDA’s Project Implementation and Facilitation Office (TRACK) which facilitates the approval process and speeds up the implementation of investment projects.
Both MIDA and InvestKL have established end-to-end facilitation services to handhold each investor during the company’s investment journey, from announced commitment to implementation. There are also appropriate milestone checks and periodic post-investment reviews to ensure that these investments will contribute to a more prosperous, inclusive, and sustainable Malaysia.
“The Cabinet is also updated quarterly on committed investment figures before a press release on the same is issued to the media. In terms of export performance figures, MATRADE issues its press release monthly. All these are also made available to the public,” continued Tengku Zafrul.
The investment project monitoring update will be part of Malaysia’s National Investment Council’s (NIC) standing agenda to ensure the nation’s highest level of commitment in realising major potential investments. The Prime Minister
Dato’ Seri Anwar Ibrahim, is the Chair of the newly established NIC, whose first meeting will be scheduled soon Tengku concluded.
