GEORGE TOWN, July 5 — The Malaysian Investment Development Authority (MIDA) is focusing on attracting investments related to high technology, while being business centric.
This is to strengthen the business ecosystem, including the supply chain and talent.
Its chief executive officer, Datuk Noharuddin Nordin said Malaysia will promote investments for manufacturing and services by looking at high technology, alongside the ecosystem, rather than focus on countries alone.
“We targeted in the past, countries such as the United States, Japan as well as Europe to attract investments. But, we are now, more concerned with completing the ecosystem through high technology and being business centric.
“If there is no complete and strong ecosystem, it is impossible for Malaysia to attract new investments or convince existing investors to continue to expand in the country,” he told reporters at the ‘Design In Asia’ seminar organised by Intel, here today.
Noharuddin said Malaysia’s investment prospects for this year is expected to remain positive, amid the first quarter performance, which was 44 per cent higher than the corresponding quarter of 2012.
Commenting on the presence of Intel and other multinational corporations (MNCs) in Malaysia, he said these players are part of the country’s successful industrialisation story.
“Their presence will help nurture future talent for Malaysia while attracting high value investments, as well as assisting local vendors in strengthening the ecosystem.
“They (investors) come to Malaysia not just looking for a place to undertake manufacturing or assembly and take advantage of the low costs.
“Maybe, that was the initial objective. But over the years, they have worked with the government and community to develop the ecosystem, to further sustain sophisticated activities by bringing research and development (R&D) and shared services here,” Noharuddin said. — Bernama
