Malaysian Investment Development Authority (MIDA) has unveiled its strategic focus on attracting investment that prioritises high-impact projects, resulting in substantial economic multiplier effects of driving innovation and improving advance technological capability across local supply chains, according to a press statement circulated by MIDA on Tuesday.
The strategic initiative aligns with Malaysia’s New Industrial Master Plan (NIMP) 2030 and sustainable development goals as MIDA promotes high impact projects in advanced technology sectors, digital transformation, and sustainable industries that could potentially create high-income jobs.
In an unprecedented display of economic unity, MIDA hosted a landmark gathering of the nation’s most influential investment ecosystem partners at The Majestic Hotel. The exclusive event, marking Chief Executive Officer (CEO) Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid’s first major convening since his April appointment, brought together an elite coalition of government agencies, state bodies, economic corridors, diplomatic missions, financial institutions, strategic partners and consulting powerhouses.
The event showcased MIDA’s evolution into a dynamic investment facilitator, positioning itself as a strategic ally for investors navigating Malaysia’s diverse economic landscape. Distinguished attendees engaged in discussions about transformative investment opportunities, sustainable development initiatives, and innovative approaches to economic growth.
“Malaysia’s success is a team effort… It’s about partnerships, creating jobs, and building a legacy of growth that benefits everyone – Malaysians and investors. MIDA is committed to supporting investors every step of the way, acting as their biggest supporter, trouble- shooter, and sounding board,” said CEO of MIDA.
The evening revealed impressive figures that underscore Malaysia’s growing economic momentum. Investment approvals have soared to RM254.7 billion in the first nine months of 2024, marking a robust 10.7% year-on-year increase. This surge in investment is projected to create more than 159,000 high-value job opportunities across various sectors, significantly boosting the nation’s employment landscape.
MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices.
