KUALA LUMPUR, July 23 (Bernama) — The Malaysian Investment Development Authority (MIDA) has approved a sum of RM220.5 million under the Domestic Investment Strategic Fund (DISF) as of July 19, 2013 for 36 projects, which have an investment value of RM2.074 billion.
The announcement was made by International Trade and Industry Minister Datuk Seri Mustapa Mohamed today.
The RM1 billion DISF was launched by Prime Minister Datuk Seri Najib Tun Razak on July 3 last year.
“We expect by 2015 we can fully allocate the total fund as the timeline for the DISF is within the 10th Malaysia Plan,” he told a media briefing here today.
Projects involving electrical and electronics, services, transport, life sciences and machinery and advanced engineering industries amounted to RM213.7 million or 96.9 per cent of the total grants approved.
The breakdown of approvals by industry is as follows: electrical and electronics with 10 projects approved; services (eight projects); transport (five projects); life sciences (four projects); machinery and advanced engineering (three projects); research and development (three projects); ICT (two projects); and wood-based (one project).
“We don’t go by sector but we look at the company that wants to be part of the global value chain.
“It just happens that many of the applicants are electronics companies, and electronics is the biggest component in the manufacturing sector in Malaysia,” said Mustapa, who also urged more Malaysian companies to apply for the grant.
“MIDA will customise the package based on the needs of the individual company.
“This is to ensure that the companies are able to sustain themselves in the long run and contribute towards high value-added and high employment generation,” he said.
Mustapa said DISF is one of the strategies being pursued to assist Malaysia to make the quantum leap required in driving the national investment agenda in transforming the economy.
DISF provides matching grants to cater for expenditures incurred for training for Malaysian research and development activities carried out locally, modernisation and upgrading facilities, and licensing or purchase of new or high technology.
The promoted sectors under the DISF are aerospace, medical devices, pharmaceuticals, machinery and equipment, advanced electronics and services including research and development, testing, quality and standards certification, engineering services, technical and skills training, and logistics services.
The announcement was made by International Trade and Industry Minister Datuk Seri Mustapa Mohamed today.
The RM1 billion DISF was launched by Prime Minister Datuk Seri Najib Tun Razak on July 3 last year.
“We expect by 2015 we can fully allocate the total fund as the timeline for the DISF is within the 10th Malaysia Plan,” he told a media briefing here today.
Projects involving electrical and electronics, services, transport, life sciences and machinery and advanced engineering industries amounted to RM213.7 million or 96.9 per cent of the total grants approved.
The breakdown of approvals by industry is as follows: electrical and electronics with 10 projects approved; services (eight projects); transport (five projects); life sciences (four projects); machinery and advanced engineering (three projects); research and development (three projects); ICT (two projects); and wood-based (one project).
“We don’t go by sector but we look at the company that wants to be part of the global value chain.
“It just happens that many of the applicants are electronics companies, and electronics is the biggest component in the manufacturing sector in Malaysia,” said Mustapa, who also urged more Malaysian companies to apply for the grant.
“MIDA will customise the package based on the needs of the individual company.
“This is to ensure that the companies are able to sustain themselves in the long run and contribute towards high value-added and high employment generation,” he said.
Mustapa said DISF is one of the strategies being pursued to assist Malaysia to make the quantum leap required in driving the national investment agenda in transforming the economy.
DISF provides matching grants to cater for expenditures incurred for training for Malaysian research and development activities carried out locally, modernisation and upgrading facilities, and licensing or purchase of new or high technology.
The promoted sectors under the DISF are aerospace, medical devices, pharmaceuticals, machinery and equipment, advanced electronics and services including research and development, testing, quality and standards certification, engineering services, technical and skills training, and logistics services.