KUALA LUMPUR, June 19 — The government through the Ministry of Investment, Trade and Industry and Malaysian Investment Development Board is constantly working on improving strategies and approaches to strengthen the country’s ecosystem and investment facilitation.
He was responding to a question from Senator Tan Sri Low Kian Chuan on the DDI target for 2023 compared with FDI. “Most notably, the ratio of FDI to DDI is almost 50:50, which is 52.5 per cent for FDI and 47.5 per cent for DDI,” he said. He said the total investment included projects from the manufacturing sector with a proposed investment of RM37.5 billion involving 61 proposed projects.
He said this included offering tax incentives to domestic companies that implement projects promoted under the Promotion Of Investment Act 1986, increasing the capacity of local investors through the Industry4WRD Intervention Fund for SMEs, encouraging the use of automation among companies in the manufacturing and service sectors through the Automation Capital Allowance and organising the Mida Invest Series Conference to identify investment potentials of each state.
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