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Malaysia's MIDA launches fund facilitation initiatives for economic growth

Malaysia's MIDA launches fund facilitation initiatives for economic growth

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The Malaysian Investment Development Authority (MIDA) has launched new funding facilitation initiatives aimed at catalysing Malaysia’s industrial growth and fostering economic development, according to a statement by MIDA.

These initiatives include the Domestic Investment Accelerator Fund (DIAF), the MADANI Smart Automation Grant (SAG MADANI) and the Foreign Investment Accelerator Fund (FIAF), which aim to play a pivotal role in advancing Malaysia’s economic landscape.

Don't miss: Malaysia secures over RM37.4bn in investments to boost digital economy

According to MIDA, DIAF and SAG MADANI have been strategically designed to offer a variety of tailored solutions that assist in the development of high-value economic activities for local manufacturers and service providers.

They also encourage local Malaysian businesses to upgrade their capabilities and expand their scope of operations, aligning with the country's commitment to fostering innovation, automation, digitalisation, and the adoption of sustainable ESG practices.

MIDA also stated that it steadfastly centres its efforts on prioritising targeted and selective investments that yield high quality and high impact from foreign sources.

 In line with this commitment, FIAF has been tailored for Multinational companies (MNCs) operating in Malaysia to facilitate the seamless transfer of cutting-edge know-how within the high-technology sector through research and development initiatives and comprehensive training activities.

This strategic approach is poised to nurture a highly skilled and high-income local workforce while preserving Malaysia’s competitiveness in an evolving global industrial landscape.

Minister of Investment, Trade and Industry (MITI), Zafrul Aziz, explained, “The realisation of the New Industrial Master Plan 2030’s vision to transform Malaysia’s industry – characterised by innovation, technology and economic complexity – requires strong enablers, one of which is funding.”

He added that to that end, MIDA’s newly launched funds are among the first concrete steps to support Malaysia’s industries in upgrading their capacity for higher-value economic activities and facilitating knowledge transfer from foreign investors to domestic companies.

By nurturing local talent, fostering partnerships, and promoting technological advancement, he explained that the government is not only catalysing sustainable economic growth. Rather, it is also setting the stage for Malaysia to be at the forefront of the global industrial landscape by 2030.

“DIAF, FIAF and SAG MADANI are more than just funds; they are powerful catalysts propelling our nation towards the vision of a sustainable and dynamic industrial ecosystem. Our shared mission is to cultivate a thriving economic landscape, and with these initiatives, we are nurturing a brighter future for Malaysia,” explained Wira Arham Abdul Rahman, CEO of MIDA.

Earlier this year in September, Malaysia secured over RM37.4 billion in investment commitments in the digital technology sector, according to Fahmi Fadzil, the country’s Communications and Digital minister. Speaking at the Malaysia Digital Expo (MDX), Fadzil reportedly said that this inflow of investments promises the creation of at least 15,895 high-value jobs. This, he added, is a reflection of foreign investors’ confidence in Malaysian Digital, which is the national strategic initiative driving the digital economy.

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