MIDA, a vital instrument to remove obstacles for prospective investors - Tengku Zafrul

KUALA LUMPUR: The Malaysian Investment Development Authority (MIDA) plays an instrumental investment facilitator role in removing obstacles for prospective investors, said Investment, Trade and Industry (MITI) Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He noted that MIDA, which was established in 1967, has now transformed into Malaysia’s key investment promotion and marketing agency, a strategic move to strengthen the country’s investment landscape, ensuring the nation remains a competitive and attractive investment destination.

"It is on that note that I would like to further expand on MIDA’s contribution to Malaysia’s socio-economic growth, and what better way to recognise MIDA’s valuable legacy than through the coffee table book that we are launching,” said Tengku Zafrul at the launch of the coffee table book, titled "Stepping Stones: MIDA’s Journey”, here today.

Also present was MIDA’s chief executive officer (CEO) Datuk Arham Abdul Rahman and Hong Leong Bank (HLB) group managing director and CEO Kevin Lam.

The book was penned by Malaysian National News Agency (Bernama) former chairman Datuk Seri Azman Ujang and former editor-in-chief Datuk Yong Soo Heong, along with biographer and publisher Bernice Cynthia Narayanan.

Tengku Zafrul said the book is a must-read for anyone looking to delve into Malaysia’s industrial policymaking and nation-building journey post-independence.

"I was told that the Stepping Stones book project began a decade ago, so I must say well done to Datuk Arham whose leadership eventually brought MIDA’s stories from concept to print.

"The collaboration with MIDA also goes deeper than a simple partnership; banks like Hong Leong have a key role to play in supporting a vibrant industrial and investment ecosystem, and in advancing Malaysia’s socio-economic prosperity,” he added.

Meanwhile, in a joint statement today, MIDA and HLB said they have inked a memorandum of understanding to support the overall investment ecosystem and provide comprehensive financing and banking services for businesses entering the Malaysian market.

Aligned with the government’s commitment to making Malaysia the chosen investment destination for foreign and domestic investors and businesses, HLB has formed a strategic collaboration with MIDA, pledging to support the overall investment ecosystem and provide comprehensive financing and banking services for businesses entering the Malaysian market.

The agreement marks a commitment by both parties to foster a strategic alliance that promotes sustained business growth and engagement across Malaysia's small and medium enterprises and commercial sectors, said HLB and MIDA. - Bernama