KUALA LUMPUR, November 30 – The Malaysian Investment Development Authority (MIDA) illuminated the thriving business potentials of Perak at the “MIDA Invest Series – Perak: Unfolding Its Business Potentials” event held at Perdana Hall, MIDA Sentral in Kuala Lumpur. In collaboration with the Perak State Government through its investment promotion body, InvestPerak, this gathering attracted over 250 participants. The event served as a crucial platform to spotlight compelling investment opportunities within Perak.
The project is expected to attract RM32 billion in investments over the next 10 years, creating thousands of job opportunities and positioning Malaysia to become a regional leader in the production of next-generation vehicles. The establishment of a new High-tech Industrial Hub in Kerian, as announced by the Prime Minister, YAB Dato’ Seri Anwar Ibrahim in the recent Belanjawan 2024, is foreseen to greatly support high technology and capital incentive projects, which will directly nurture Perak and further spur the conducive business environment for investors, targeting especially the niche sectors.”
In his opening speech, Datuk Wira Arham Abdul Rahman, CEO of MIDA, underscored Perak’s potential, stating, “Perak is a region brimming with potential, boasting manufacturing, agriculture, and tourism sectors. Hubs like the Automotive High-Tech Valley (AHTV) and Lumut Maritime Industrial City (LuMIC) are driving investments and job creation, reflecting our commitment to progress. He further added, “In the first half of 2023, Malaysia achieved a remarkable RM132.6 billion in approved investments across the manufacturing, services, and primary sectors. It is worth noting that as of June 30, 2023, Perak has garnered over RM22.3 billion in realized investments from a total of 283 manufacturing projects, creating more than 22,000 jobs.
Esteemed companies such as Toyo Tire Malaysia, Coherent Malaysia, Murata Electronics, and Hume Cement, among many others, have made their marks in Perak. Perak strategically prioritizes key sectors like manufacturing, tourism, food security, and minerals beneficiation for sustainable growth. The focus on maximizing the E&E supply chain in northern Perak, capitalizing on the automotive sector, and developing maritime industries in Lumut highlights the region’s dynamic potential. Additionally, Perak’s renowned eco-tourism offerings, including Royal Belum’s lush forests and the tranquil Pulau Pangkor, present enticing investment prospects.
The “Invest Series – Perak: Unfolding Its Business Potentials” program was a resounding success, offering in-depth insights into available opportunities and outlining the support and facilitation provided to companies and prospective investors. This initiative is geared towards fostering quality employment opportunities for the local population, thus contributing to the state’s overall economic growth and prosperity. With its strategic location, thriving manufacturing sector, diverse economic clusters, and rich natural resources, Perak remains one of the promising investment destinations in the country, and MIDA is dedicated to supporting and facilitating investments in the state.
