KUALA LUMPUR: The government will introduce the New Investment Incentive Framework (NIIF) which will be implemented from the third quarter of 2025, said Deputy Minister of Investment, Trade and Industry (MITI) Liew Chin Tong.
He said the NIIF is an improvement by focusing on high-value activities and economic spillover effects for investment proposals submitted, compared to existing practices or mechanisms that offer investment incentives based on specific products or activities.
“In an effort to increase the influx of foreign investments, the MADANI Government is focusing on creating a paradigm shift that is no longer focused on the concept of ‘made in Malaysia’, but is more concerned with the new paradigm of ‘made by Malaysia’.
“From MITI’s perspective, this effort is also focused on the aspiration to develop a ‘local champion’, he said during a question and answer session at the Dewan Rakyat today in reply to a question by Datuk Dr Zulkafperi Hanapi (Tanjong Karang) who asked about the additional measures that will be taken to ensure that foreign investments continue to increase in 2025.
According to Liew, the government will also take advantage of Malaysia’s role as ASEAN chair in 2025 to strengthen regional economic cooperation by ensuring ASEAN continues to be a high-impact platform.
MITI will also promote Malaysia’s investment ecosystem as a selected investment destination in the region, which at the same time encourages foreign investments, including strengthening the supply chain ecosystem from ASEAN member countries, he added.
