The MADANI Economic Framework is to map the name of Malaysia as a regional economic champion. To achieve that desire, structure the economy needs to be overhauled and reorganized so that the potential that exists can be realised and developed. NIMP 2030 targets total investment up to 95 billion ringgit in addition to involving 3.3 million opportunities jobs with an intermediate salary of up to 4,510 ringgit per month by 2030.
The government will provide an allocation of up to 10 percent of the total NIMP investment as a catalyst to drive NIMP mission with an initial fund of 200 million ringgit in 2024.
HGHV Sector Priorities
Among the structural issues that plague the economic system include an industrial sector that contracted prematurely. Contribution the manufacturing industry remains below the level of 25 percent to GDP. For curbing this problem, future investment priorities are focused to high-growth and high-value fields high value (HGHV).
The results-based incentive approach is one-dimensional new that uses a tiering system in giving incentives. It is will stimulate companies to generate economy through investment in high-growth and high-value areas and so on creating new economic clusters, expanding domestic networks and balancing economic and environmental sustainability. Hereby, companies enjoy incentives commensurate with their commitment implemented.
For starters, the Government plans to provide a tiered reinvestment tax incentive form of investment tax allowance of 70 percent or 100 percent.
To support the ecosystem of high-value activities, the Government proposed Pengerang Integrated Petroleum Complex (PIPC) made a hub for the development of the chemical and petrochemical sectors with giving a tax incentive package in the form of a special tax rate or investment tax allowance.
The MADANI Economic Framework is to map the name of Malaysia as a regional economic champion. To achieve that desire, structure the economy needs to be overhauled and reorganized so that the potential that exists can be realised and developed. NIMP 2030 targets total investment up to 95 billion ringgit in addition to involving 3.3 million opportunities jobs with an intermediate salary of up to 4,510 ringgit per month by 2030.
The government will provide an allocation of up to 10 percent of the total NIMP investment as a catalyst to drive NIMP mission with an initial fund of 200 million ringgit in 2024.
HGHV Sector Priorities
Among the structural issues that plague the economic system include an industrial sector that contracted prematurely. Contribution the manufacturing industry remains below the level of 25 percent to GDP. For curbing this problem, future investment priorities are focused to high-growth and high-value fields high value (HGHV).
The results-based incentive approach is one-dimensional new that uses a tiering system in giving incentives. It is will stimulate companies to generate economy through investment in high-growth and high-value areas and so on creating new economic clusters, expanding domestic networks and balancing economic and environmental sustainability. Hereby, companies enjoy incentives commensurate with their commitment implemented.
For starters, the Government plans to provide a tiered reinvestment tax incentive form of investment tax allowance of 70 percent or 100 percent.
To support the ecosystem of high-value activities, the Government proposed Pengerang Integrated Petroleum Complex (PIPC) made a hub for the development of the chemical and petrochemical sectors with giving a tax incentive package in the form of a special tax rate or investment tax allowance.
The government will provide an allocation of up to ten per cent of the total investment of NIMP as a catalyst to drive the mission of NIMP with an initial fund of RM200 million in 2024.
Under the New Industrial Master Plan 2030 (NIMP 2030), the government is targeting a total investment of up to RM95 billion in addition to involving 3.3 million job opportunities with an intermediate salary of up to RM4,510 per month by the year 2030.
In order to further improve the level of public service efficiency, the development of the National Digital Identity (NDI) will be accelerated as a trusted self-verification platform.
- The responsibilities of the Ministry of International Trade and Industry (MITI) and the Malaysian Investment Development Authority (MIDA) will no longer be solely focused on investment incentive approvals but will also involve facilitating foreign direct investment (FDI) and domestic direct investment (DDI) from the application process to investment realisation.
- The government will implement several new policies and directives to facilitate business operations to allow Malaysia to become a foreign investment destination.
