MIDA Sees Malaysia’s Economic Growth Being Favourable With High Fiscal Support For Expansion In 2023 – BusinessToday

Speaking exclusively to BusinessToday recently, MIDA Chief Executive Officer Datuk Wira Arham Abdul Rahman shared that MIDA is at the forefront of progress and we assume the responsibility of empowering the future. Taking lessons from the past and building on our experiences, we are ready to create a new paradigm in our investment landscape.

MIDA pursues high-quality and technology-driven investments to boost socio-economic development and trade growth, guided by our newly launched New Investment Policy (NIP), which emphasises nurturing innovative, high-impact, high-tech investments that would be imperative in creating high-skilled jobs he said, adding: “We want to push ourselves, work harder and deliver outstanding results. Malaysia has attracted a total of RM193.7 billion worth of approved investments in the services, manufacturing and primary sectors involving 2,786 projects from January to September 2022 and is expected to create 98,414 job opportunities in the country.”

This is a 2.5 per cent increase as compared to the RM189 billion investments approved in the same period last year. FDI remained the major contributor, at 67.5 per cent or RM130.7 billion, while DDI contributed 32.5 per cent to RM63 billion. It is to be noted that this is a 15 per cent increase as compared to the FDI approved in the same period in 2021, he said.

Malaysia remains steadfast in its fundamentals as the pre-eminent preferred investment destination in the region. Changing times present new opportunities. “We’re here to seize them and not afraid to change course when we learn new things and jump at every opportunity to do better.

“As we forge ahead on the path of economic revitalisation supported by ongoing policy reforms and accelerated digitalisation, the Government remains committed to prioritising the needs of our people and businesses.”