The Investment Committee (IC) established in October 2010 is a joint initiative of MITI and PEMANDU to ensure better coordination in the area of investments between all Government and investment agencies involved in investment promotion. The IC also looks into the objectives and targets of the Economic Transformation Programme (ETP) to ensure that this initiative is fully realised.

The IC is co-chaired by Y.B. Minister of MITI and CEO of PEMANDU. Members of the Committee are representatives from the Ministry of Finance (MOF), Economic Planning Unit (EPU), Bank Negara Malaysia (BNM), Performance and Management Delivery Unit (PEMANDU), Ministry of International Trade and Industry (MITI), Malaysian Industrial Development Authority (MIDA) and Department of Statistics Malaysia (DOSM). Ministry of Federal Territories and Urban Wellbeing and Regional Corridors Authority are co-opted when necessary.

The IC’s main focus is to promote and facilitate overall investment in achieving the RM115 billion annual investment targets as set out in the ETP. Apart from that, the IC has been tasked to monitor and ensure that the economic growth target of 6% and private investment growth target of 12.8% are achieved.

The IC’s main functions are to:
• collect and collate data both on planned and actual investment;
• assess the investment gaps;
• identify the strategic issues and impediments to investments; and
• address the issues.
Data collation and information sharing is a priority of the IC. It is important that all agencies adhere to the consistency of definitions set out by the IC on all data that is required to be reported.
 
MITI Weekly Bulletin Vol.146, 14 June 2011