Miti Blog

Ministry of International Trade and Industry Malaysia Official Blog

MIDA Confident Of Luring RM8 Billion Investments

Posted by admin2 on June 17, 2015 at 5:59 pm
JOHOR BAHRU, March 19 (Bernama) — The Malaysian Investment Development Authority (MIDA) is confident of attracting RM8 billion in investments this year from foreign companies that will establish their regional operations in Malaysia.

Director for Regional Establishment and Supply Chain Management Division, Roeslina Abbas is optimistic of achieving the KPI target, given Malaysia’s strong geographical position in the region and high purchasing power, as well as, its growing national economy.

“The total regional operation investment in Malaysia is showing an upward trajectory and we are expecting some positive growth for this year.

“Definitely we will gain more than what we have set. In fact, in the first two months of this year, we have secured about RM1 billion worth of projects,” she said after briefing reporters on MIDA’s Regional Establishment and Supply Chain Management here Wednesday.

In 2013, the government agency secured RM12.2 billion in regional operation investment in the country, a whopping increase, over its initial target of RM2.5 billion.

Roeslina said the changes in the global business model, the complexity of e-commerce worldwide, as well as, Malaysia’s active involvement in various regional and bilateral levels, including the Free Trade Agreements, would be advantageous to the country.

Against this backdrop, Malaysia is an attractive destination for global businesses to set up their regional business hubs and strategically grow their business in Asia, she added.

On potential investment, she said MIDA was targeting investors from the United States, Singapore and Indonesia, as well as, multinational companies (MNC) that have established their regional hub, to relocate their business to Malaysia.

“US-based manufacturing companies are now focusing on Asean countries, so we want to leverage on that advantage. This country will continue be our major investor.

“For Indonesia, the country is lacking in supply chain services and they are looking at Singapore to do their treasury management and logistics.

“Malaysia has such capabilities and we could influence not only the local investors but also MNCs based in Indonesia particularly the Japanese to invest here,” she said.

Roeslina added that the cost of doing business in Malaysia was much more cheaper than in Singapore and this would attract investors from the republic nation.

Meanwhile, Services Development Executive Director Datuk Mathialakan Chelliah said the intense competition among the countries in the region and perception issue, especially those who think Singapore as the best destination for a regional hub, would be among the challenges for MIDA, going forward.

“We are working hard (to promote Malaysia), its just that they started much earlier. However, we are confident of reaching the target and to attract more investors.

“We are strengthening our ecosystem, we have the infrastructure and language for communication, the products offered here is just the same, and the cost of doing business is more cheaper in Malaysia,” he added.
 

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