MIDA, CIMB COLLABORATE TO DRIVE SUSTAINABLE GROWTH, BOOST MALAYSIA'S COMPETITIVENESS

KUALA LUMPUR, Oct 23 (Bernama) -- The Malaysian Investment Development Authority (MIDA) and CIMB Bank Bhd have signed a memorandum of understanding (MOU) to accelerate high-value, sustainable investments, deepen industrial ecosystems, and enhance Malaysia’s competitiveness.

MIDA and CIMB said the collaboration aims to create a strategic bridge linking Malaysia’s national investment priorities with CIMB’s regional financial network to drive capital mobilisation that supports technology adoption, supply chain resilience, and enterprise expansion.

Through the MOU, MIDA and CIMB will introduce a series of investment-focused programmes offering tailored financial solutions, cross-border advisory and sustainable financing frameworks.

The initiative also promotes cross-border business expansion,  supporting Malaysian companies to build a presence in new markets and integrate into regional value chains.

"CIMB will leverage its wholesale banking and commercial and transaction banking expertise to deliver end-to-end support for both foreign and domestic investors, particularly in high-impact sectors.

"Through its comprehensive financing ecosystem,  CIMB will help local SMEs scale into regional supply chains, participate in high-value industrial activities, and meet environmental, social and governance (ESG) and green-transition goals," they said in a joint statement.

MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said in the same statement that the collaboration marked a decisive step to elevate Malaysia’s investment ecosystem and deliver high-impact projects.

“By combining our investor relationships and sector expertise with CIMB's financial connectivity and sustainability focus, we are broadening the channels for quality investments that empower Malaysian businesses and strengthen regional linkages.

“Together, we are reinforcing Malaysia’s standing as a trusted and forward-looking destination for strategic and sustainable investments," he added.

CIMB Malaysia and CIMB Bank Bhd chief executive officer Gurdip Singh Sidhu said the collaboration underscores the bank’s commitment to supporting the government’s focus on high-quality and sustainable investment inflows.

“As a vital partner for trade and investment across ASEAN, CIMB is focused on positioning Malaysia as a premier destination for both foreign and domestic investments,” he added. “Leveraging our regional network and financial expertise, we will accelerate cross-border connectivity and catalyse strategic investments that enhance the country’s long-term growth, resilience, and global competitiveness.”

-- BERNAMA