KUALA LUMPUR, Aug 2 (Bernama) -- The Malaysian Investment Development Authority (MIDA) in collaboration with the Malaysian Indian Network of Entrepreneurs (1MINE) organised a Briefing and Networking Session to increase awareness of local companies on latest updates on government policies, incentives, facilities and support services available. The half-day seminar has brought together up to 250 participants from the value chain of the manufacturing and services sectors.
 
The event featured presentations by various divisions of MIDA on initiatives and programmes for domestic investment, Investment Coordination Platform (ICP), High Impact Fund, Domestic Investment Strategic Fund, and Industry 4.0 Incentives including the Introduction and Readiness Assessment for Industry 4.
 
According to Mr. Sivasuriyamoorthy Sundara Raja, Executive Director of Investment Promotion, MIDA, “The Government has adopted proactive economic measures to assist and facilitate Malaysian businesses in these challenging economic times. Today’s engagement is part of our outreach programmes to assist domestic companies in becoming regional or global champions. We believe there is much room for existing companies in Malaysia to expand or diversify, particularly in high value-added, high technology, knowledge-intensive and innovation-based activities. On MIDA’s part as the country’s principal investment promotion agency, we will continue to work closely with all stakeholders to ensure that we sustain a conducive business environment for businesses to grow.”
 
“We want our SMEs to look beyond Malaysia’s market and become regional or global champions. So far, the majority of SMEs, despite making up 98.5 per cent of the country’s businesses cater only to the local market. With the presence of digital platforms, the market has become borderless. ASEAN market alone consists of a population base of 650 million, which we can tap on,” added Mr. S. Siva. 

ABOUT MIDA
 
MIDA is Malaysia's principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram and Facebook, @OfficialMIDA. 

Source: Malaysian Investment Development Authority (MIDA)

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid
Director, Domestic Investment and Supply Chain Coordination Division, MIDA
Tel: 03-2267 6633
Email: shamsul@mida.gov.my 

--BERNAMA