PROGRESS UPDATES
 

KUALA LUMPUR, Nov 30 (Bernama) -- The volatile global economy, afflicted by the COVID-19 pandemic, has impelled most countries to implement assertive strategies to remain sturdy in economic well-being. Malaysia, as an open trading nation is not spared from the impact of the COVID-19 outbreak, more so on industrial productivity, supply chains and growth plans of many businesses. Bank Negara Malaysia predicts the 2020 GDP to be in the range of -3.5% and -5.5%. However, with the anticipated improvement in global growth and trade, given the gradual normalisation in economic activities, Malaysia projects a rebound of over 6% in 2021 with resilient fundamentals and well-diversified economy.
 
As the country steers to weather the on-going pandemic while capturing technical bounces in the economic recovery, the Government has undertaken several proactive measures to enable high potential investors and business travellers, whose numbers are relatively not large, and existing investors to enter the country to secure investments and build investor confidence. Hence, to attract more investments into Malaysia and sustain its position as the preferred investment destination in the region, the Government has established a One Stop Centre (OSC) for Business Travellers on 2 October 2020 to ease the movement of business travellers by expediting the approval of their entry to do business in Malaysia.
 
MIDA manages the OSC for Business Travellers with support from the Immigration Department of Malaysia (IMI), Ministry of Health (MOH), Ministry of International Trade and Industry (MITI) and other relevant ministries and agencies to ensure the legitimacy and health status of business travellers before they enter into Malaysia. This Centre assumes a critical role in ensuring that Malaysia remains steady on the path of economic recovery and growth, by enabling business travellers’ movement to do their business/work in Malaysia.
 
The OSC Committee evaluates and approves two (2) types of business travellers, namely Long Term Business Travellers where their stay in the country is more than 14 days and Short Term Business Travellers for a stay of 14 days or less. The meeting is held daily on five (5) working days every week, while a decision for each applicant is made within three (3) working days upon receiving complete information.
 

As at 27 November 2020, the OSC Committee has received a total of 2,564 applications and 2,448 applications were recommended for approval. These Business Travellers include businessmen and technical experts providing technical advisory services and installation commissioning of the machinery and equipment.
 
MIDA is working closely with the Immigration Department of Malaysia and Talent Corporation Malaysia Berhad to enhance the MyEntry System to further facilitate the Entry Permission applications of Business Travellers. This includes the establishment of a Business Traveller Centre (BTC) at KLIA which will provide the services of Duty Officers/ Liaison Officers and a COVID-19 testing laboratory; and a dedicated website containing information and advisory services to facilitate the entry of business travellers into Malaysia. An announcement will be issued soon upon the completion of Business Travellers Centre.
 
Currently, MIDA is in consultation with Business Travellers from 136 potential multinational companies that will require the assistance of the OSC in the near future.

About MIDA
 
MIDA is the government's principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA 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, Facebook, LinkedIn and YouTube channel.

SOURCE: Malaysian Investment Development Authority (MIDA) 

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Ms. Aizah Abdullah
Director, Industry Talent Management and Expatriate Division
Tel: 03-2267 3529
E-mail: aizaha@mida.gov.my

--BERNAMA