KUALA LUMPUR, Feb  21 (Bernama) --  Negeri Sembilan continues to be one of the recipients of investments in the country despite the challenging global economic environment.  As at June 2019, there were 901 manufacturing projects implemented in Negeri Sembilan, with total investments of RM37.2 billion. Majority of these investments were from the foreign source recording a total of RM25.3 billion or 68% while the rest were from domestic sources. These projects, which have created over 100,000 job opportunities, were mainly in the electrical and electronics (E&E) products, textiles and textile products, and rubber products industries. For January-September 2019, Negeri Sembilan attracted a total of 33 additional manufacturing projects worth RM2.6 billion. Notable companies operating in Negeri Sembilan include Samsung, On Semiconductor, Coca-Cola, Ajinomoto, Daihatsu, Safran and Kibing.
 
“Malaysia offers sound economic fundamentals and capabilities in providing the right mix of ingredients as a profitable destination for new companies to grow in the region. Malaysian Investment Development Authority (MIDA) also believes there is much more room for expansion or diversification for existing companies in Malaysia to reinvest, particularly in new growth areas. The Government has been persistently undertaking efforts to promote and facilitate local companies, particularly for SMEs, to scale up and accelerate their adoption of smart manufacturing and Industry 4.0 technology through various incentives and facilities. For example, the Industry4WRD Intervention Fund, managed by MIDA, is a good financial support facility for Malaysian SMEs in the manufacturing and related services sectors to embrace Industry 4.0. The fund is provided on a matching basis (70:30), based on eligible expenditures, up to a maximum grant of RM500,000.00. Approved companies will receive upfront, a maximum of 30% of the matching amount,” said Mr. Arham Abdul Rahman at the Invest Series Briefing: Unfolding States’ Business Potential organised by MIDA.
 
Mr. Arham also urged local and foreign companies to participate in the Economic Accelerator Projects (EAPs) along the East Coast Rail Link (ECRL) corridor. “The MIDA’s ECRL team is currently engaging with the respective states and interested parties to inform and promote the EAPs. With the inflows of Foreign Direct Investment (FDI) and Domestic Investment (DI) and potential growth for industrial, commercial and tourism sectors, the railway will contribute towards bridging the development gap between the east and west coasts of Peninsular Malaysia,” added Mr. Arham.

“The State Government would like to encourage more investors to invest in the Negeri Sembilan’s new growth area, namely the Malaysia Vision Valley (MVV 2.0). Spanning 153,411 hectares covering districts of Seremban and Port Dickson, the area has been earmarked to be the extension to the Greater Kuala Lumpur conurbation. Located at the south of the Klang Valley, MVV 2.0 is the natural destination and sponge for the spillover impacts of the Klang Valley where developments thrive,” said YB Dato' Dr. Mohamed Rafie bin Abd. Malek, Exco Investment, Entrepreneurship, Education and Human Capital Negeri Sembilan during his briefing on the business opportunities and facilities available in Negeri Sembilan.
 
YB Dato' Dr. Mohamed Rafie added that, “The investment in MVV 2.0 need to be in line with the four economic clusters highlighted in the Comprehensive Development Plan (CDP) of MVV 2.0. Through the MVV Secretariat, the state Government will facilitate the whole process with end to end handholding exercise in ensuring the smooth sailing of the investment realisation in the area.”
 
Today’s Invest Series briefing on Negeri Sembilan organised by MIDA has successfully attracted over 200 participants ranging from business chambers, associations and embassies as well as industry players from the services and manufacturing sectors. Since early 2019, MIDA has featured Selangor, Perlis, Kedah, Kelantan, Pahang, Terengganu, Sabah, Sarawak and Pulau Pinang in its Invest Series programmes.
 
About MIDA
 
MIDA is the government'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. Nazuki Abdullah
Director
Domestic Investment & Supply Chain Division, MIDA
Tel.: 03-2267 3744
Email: nazuki@mida.gov.my

--BERNAMA