: Malaysian Investment Development Authority anticipates that foreign investors will continue to leverage Malaysia to expand their footprint in this region albeit the challenges and uncertainty in the global economy caused by the COVID-19 pandemic.
At the same time, Malaysia is also positioning itself as a global supply chain hub in Asia, he added. He said MIDA continues to encourage high-quality investments in the manufacturing sector, especially in the catalytic subsectors – namely chemicals, electrical and electronic , machinery and equipment, aerospace and medical devices; while in the service sector, it aims to attract more investment in the field such as logistics, e-commerce, green technology and renewable energy.
“In light of the on-going international border closures and strict governmental standard operating procedures in place worldwide to contain the spread of COVID-19, MIDA continues to be responsive in providing advice and support to the existing and potential investors. These include organising webinars in collaboration with chambers of commerce, banks and international business communities such as the China Enterprises Chamber of Commerce in Malaysia , EU-Malaysia Chamber of Commerce and Industry , Malaysian French Chamber of Commerce and Industry , American Malaysian Chamber of Commerce , Deloitte, HSBC, and Standard Chartered.
He said to date, MIDA has a pipeline of investment project worth RM54 billion and this is expected to increase further as the economy returns to normal.