The Ministry of Investment, Trade and Industry has established the Center Facilitating Investment Malaysia or Invest Malaysia Facilitation Centre (IMFC) a one-stop center for matters related to investment at the Malaysian Investment Development Authority (MIDA) Headquarters.
This will facilitate the business community with affairs and investors in the sector manufacturing and selected service sectors. The centre is an improvement to the existing advisory service center at MIDA and its physical establishment is intended to accelerate various approval processes including providing consultation and advice services at the same time reducing bureaucracy in the delivery of public services.
The implementation of the IMFC will be successful based on a whole-of-government concept (whole-of-government) and will be directly supported by ministries and agencies, namely: (a) Royal Malaysian Customs Department (JKDM); (b) Malaysian Immigration Department (JIM); (c) Inland Revenue Board of Malaysia (IRB); (d) Department of Manpower (JTK); (e) Malaysian Communications and Multimedia Commission (SKMM) and the Company Telecommunications; (f) Tenaga Nasional Berhad (TNB); and (g) other ministries and agencies subject to current requirements.
MITI said it is also committed to improving existing facilities and facilities under MIDA in an effort to facilitate investment. One of the existing initiatives under MIDA is the establishment of an Office Project Implementation and Facilitation (TRACK) in 2020. TRACK is a facilitation platform for all investment projects approved by the National Committee on Investment (NCI) to ensure projects approved can be implemented within the specified period.
Since the establishment of TRACK, the percentage of implementation of projects that are approved has increased by over 80 percent, for the period from January 2016 to June 2023.
