Kuala Lumpur (VNA) - The Ministry of Investment,Trade and Industry (MITI) of Malaysia has announced that the country will speedup the implementation of approved investments to generate positive economicspillovers to domestic small and medium enterprises (SMEs) and the creation of127,000 job opportunities for the people.
MITI and the Malaysian Investment Development Authority(MIDA) are working hard to fully realise the approved investments for 2023, whichwas 329.5 billion RM (69 billion USD), a 23% increase compared to 2022, localmedia reported.
Of the total, foreign investment (FDI) was the maincontributor, at 57.2% compared to domestic investment (DDI) at 42.8%.
MITI affirmed that the 35.1% increase in DDI alsoreflected the encouraging confidence of local investors in the MADANIGovernment’s economic policies.
MITI, through its agencies such as the Malaysia ProductivityCorporation (MPC), is also striving to train as many local workers as possiblethrough programmes such as the Academy in Industry (AiI) to meet the demand forquality and trained talent from high-tech and high-impact industries.
By now, the MPC has successfully placed andimproved the skills of 2,665 youths who did not have the opportunity to go tohigher education institutions, it said.
Through the trade and investment mission to China from March29 until April 3, 2023, MITI said the investment potential from conferences,roundtable meetings, and the Malaysia-China Business Forum was estimated to beworth 170 billion RM.
MITI and the Malaysian Investment Development Authority(MIDA) are working hard to fully realise the approved investments for 2023, whichwas 329.5 billion RM (69 billion USD), a 23% increase compared to 2022, localmedia reported.
Of the total, foreign investment (FDI) was the maincontributor, at 57.2% compared to domestic investment (DDI) at 42.8%.
MITI affirmed that the 35.1% increase in DDI alsoreflected the encouraging confidence of local investors in the MADANIGovernment’s economic policies.
MITI, through its agencies such as the Malaysia ProductivityCorporation (MPC), is also striving to train as many local workers as possiblethrough programmes such as the Academy in Industry (AiI) to meet the demand forquality and trained talent from high-tech and high-impact industries.
By now, the MPC has successfully placed andimproved the skills of 2,665 youths who did not have the opportunity to go tohigher education institutions, it said.
Through the trade and investment mission to China from March29 until April 3, 2023, MITI said the investment potential from conferences,roundtable meetings, and the Malaysia-China Business Forum was estimated to beworth 170 billion RM.
Disciplined implementation is one of MITI’s main focusesthis year. Thus, MITI and MIDA are always committed to providing advice,support and facilitation services to potential investors to ensure theimplementation of approved projects can be realised as soon as possible, saidthe ministry.
MITI has established, among others, the Investment and TradeImplementation Action Committee (JTPPP) which is chaired by the MITI Ministerto immediately solve implementation issues and obstacles related to investmentand trade.
The establishment of the Invest Malaysia Facilitation Centreand the Project Implementation and Facilitation Office at MIDA has also helpedspeed up the process of approval and implementation of investment projects.
Various manufacturing projects that will generally take18-24 months to complete were successfully implemented in less than 18 months.Among the projects that were successfully implemented quickly was EnovixMalaysia Sdn Bhd, which developed a silicon carbide battery manufacturingfacility involving an investment of 5.8 billion RM over 15 years./.
MITI has established, among others, the Investment and TradeImplementation Action Committee (JTPPP) which is chaired by the MITI Ministerto immediately solve implementation issues and obstacles related to investmentand trade.
The establishment of the Invest Malaysia Facilitation Centreand the Project Implementation and Facilitation Office at MIDA has also helpedspeed up the process of approval and implementation of investment projects.
Various manufacturing projects that will generally take18-24 months to complete were successfully implemented in less than 18 months.Among the projects that were successfully implemented quickly was EnovixMalaysia Sdn Bhd, which developed a silicon carbide battery manufacturingfacility involving an investment of 5.8 billion RM over 15 years./.
VNA
