KUALA LUMPUR: The government has formulated a comprehensive strategy to protect foreign direct investment and minimise economic impact from recent US retaliatory tariffs.
Ministry of Investment, Trade and Industry revealed the plan through its agency MIDA focuses on industrial infrastructure improvements and strengthening local supply chains.
Enhanced ease of doing business initiatives form another key component to maintain Malaysia’s investment attractiveness.
Talent development in high-tech sectors receives priority alongside intensified research activities nationwide.
An Automation Capital Allowance encourages manufacturing and services companies to adopt Industry 4.0 technologies.
Additional incentives include carbon taxes for hard-to-abate sectors like iron and steel industries.
Reinvestment incentives under NIMP 2030 and Investment Tax Allowance further support investment retention.
MITI provided these details in a written parliamentary reply to Senator Robert Lau Hui Yew’s query about trade war impacts.
The ministry is streamlining investment processes through project facilitation services and the MySite Selection portal.
Malaysia Investment Facilitation Centre provides comprehensive information for potential investors.
Market access expansion for Malaysian exports remains a key focus through strengthened trade relations.
Maximising benefits from 18 free trade agreements forms part of the broader trade strategy.
MITI agencies continue intensifying efforts to strengthen international trade and FDI inflows.
These measures align with objectives in the 13th Malaysia Plan and various national policies.
The National Semiconductor Strategy and Green Investment Strategy complement these protection efforts. – Bernama
