KUALA LUMPUR, October 11 – The Malaysian Investment Development Authority (MIDA) proudly announces the initiation of new funding facilitation initiatives aimed at propelling Malaysia’s industrial growth and nurturing economic development. These groundbreaking initiatives include the Domestic Investment Accelerator Fund (DIAF), the MADANI Smart Automation Grant (SAG MADANI), and the Foreign Investment Accelerator Fund (FIAF), collectively poised to significantly impact Malaysia’s economic landscape.
DIAF and SAG MADANI have been meticulously structured to provide a range of customized solutions that foster the development of high-value economic activities among local manufacturers and service providers. They actively encourage local businesses to enhance their capabilities and broaden their operational horizons, aligning with Malaysia’s steadfast commitment to advancing innovation, automation, digitalisation, and the adoption of sustainable Environmental, Social, and Governance (ESG) practices. MIDA also remains steadfast in its commitment to prioritize targeted and strategic investments that yield exceptional quality and high impact from foreign investments.
In line with this commitment, FIAF has been tailor-made for Multinational companies (MNCs) operating within Malaysia. This fund aims to facilitate the seamless transfer of cutting-edge knowledge within the high-technology sector through research and development (R&D) 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 ever-evolving global industrial landscape.
YB Senator Tengku Datuk Seri Utama Zafrul Aziz, Minister of Investment, Trade, and Industry (MITI), emphasized the pivotal role that funding plays in realizing the vision of the New Industrial Master Plan 2030. This vision aims to transform Malaysia’s industry characterized by innovation, technology, and economic complexity. Strong enablers, such as these newly launched funds by MIDA, are among the first concrete steps to support 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, Malaysia is not only catalyzing sustainable economic growth but is also positioning itself at the forefront of the global industrial landscape by 2030 and beyond, ensuring prosperity for its companies and people. Datuk Wira Arham Abdul Rahman, CEO of MIDA, affirmed the profound impact of DIAF, FIAF, and SAG MADANI. These initiatives transcend mere financial support; they are potent catalysts propelling Malaysia toward the vision of a sustainable and dynamic industrial ecosystem.
Their shared mission is to cultivate a thriving economic landscape, and with these initiatives, a brighter future for Malaysia is being nurtured. With MIDA’s support, these funds are set to empower businesses, especially local Small and Medium-sized Enterprises (SMEs) and Mid-Tier Companies, to innovate, expand, integrate into the technologically evolving global supply chain, and actively contribute to the nation’s economic progress.
