INVESTMALAYSIA: MALAYSIA'S FUTURE-PROOF POLICY FRAMEWORKS SUPPORT FOREIGN INVESTORS

KUALA LUMPUR, Nov 8 (Bernama) -- Malaysia has introduced future-proof policy frameworks to attract and support foreign investors while advancing its economic ambitions.

“Our policy priorities have remained flexible to adapt to the evolving dynamics of the global economic landscape,” the government stated in the “InvestMalaysia” portal, which was launched yesterday to provide comprehensive information for potential investors interested in investing in the country.

Key industries for investments and business growth include electrical and electronics, chemical, aerospace, medical devices, and pharmaceuticals, it said when addressing direct investors in the portal www.investmalaysia.gov.my.

Looking to the future, the government said digital transformation, besides infrastructure development and human capital investment, has been central to propelling Malaysia’s economic growth.

The country’s dedication to sustainability, demonstrated by integrating economic growth with environmental, social, and governance (ESG) factors, significantly enhanced its appeal to foreign investors.

Putrajaya also said that in exploring investment opportunities, investors could leverage Malaysia’s strategic advantages for investments and business growth.

The portal offers a guide on how investors can contact the Malaysian Investment Development Authority (MIDA), which is the government's main agency dedicated to promoting the manufacturing and services sectors in Malaysia.

It also provides customised support and a detailed step-by-step guide for investors.

In touching on equity policy and protection of foreign investment, MIDA said the government encourages joint ventures and partnerships between Malaysian and foreign investors.

MIDA’s global offices include San Jose, New York, Chicago, Stockholm, London, Frankfurt, Munich, Paris, Milan, Istanbul, Tokyo, Osaka, Hokkaido, Kyoto, Shanghai, Guangzhou, Beijing, Taipei, Seoul, Sydney, Dubai, Mumbai and Singapore.

These offices also spread their coverage to nearby countries, cities and areas such as Canada, Norway, Denmark, Finland, Iceland, Ireland, Netherlands, Luxembourg, Spain, Portugal, Central Asia, New Zealand and North Africa.

MIDA also has 12 state offices.

The portal provides information on workforce, visa and immigration, approvals, licensing, tax incentives, as well as investment incentives by sector, registration of business entity, market rates of business space and banking, finance and exchange administration.

The portal highlights that Malaysia is a market-oriented economy with 16 free trade agreements that potentially create a market size of four billion people.

Other plus points are its lower cost of doing business compared with other destinations, strategic location in the centre of Southeast Asia, connection to major ports in Asia and positioning next to one of the world’s busiest shipping lanes.

-- BERNAMA