MoF: Govt to establish high-level facilitation platform to oversee potential, approved strategic investments


Finance Minister II Datuk Seri Amir Hamzah Azizan.

KUALA LUMPUR: A meeting with 70 financial fund investors and corporate members at the recently concluded Joint Investors Meeting in London has touched on the MADANI government’s immediate action to stimulate strategic investment in important technologies, according to the Ministry of Finance (MoF).

In a statement today, it said that the government is serious about making investments a national agenda through the establishment of a high-level investment facilitation platform to ensure the implementation of potential and approved strategic investments through a "Whole of Government” approach.

Minister of Finance II Datuk Seri Amir Hamzah Azizan, who led the Malaysian delegation to the Joint Investors Meeting from April 20 to 22, said that the National Investment Council (MPN) chaired by the Prime Minister is an integrated action that reflects how serious the government is in making Malaysia an investment hub in the region.

Among the immediate actions taken by the government is establishing the National Semiconductor Strategic Committee (NSSTF) to facilitate cooperation between the government, industry players, universities, and relevant stakeholders to place the Malaysian semiconductor industry at the forefront and ensure the continued growth of the electronics & electrical industry, especially the semiconductor sector, as a major contributor to the Malaysian economy.

The government also aims to empower Malaysia as a preferred green investment destination as well as remove barriers and bureaucracy in the provision and accessibility to renewable energy, especially for the new technology industry, including data centres, said Amir Hamzah.

He also said that the country’s investment prospects have reached an extraordinary level, with approved investments surging to RM329.5 billion in 2023 from RM268 billion in 2022.

He said about 74 per cent of manufacturing projects approved between 2021 and 2023 have been completed or are in process.

In addition, Amir Hamzah said the greater initial stage construction work completed in 2023 (RM31.5 billion) and 2022 (RM26.3 billion) shows a positive trend for future investment opportunities.

"From a total of 5,101 investment projects approved in 2023, as many as 81.2 per cent or 4,143 projects are in the services sector, 883 projects in the manufacturing sector, and 75 projects in other related sectors,” he said.

Before this, Amir Hamzah met with international investors in New York and Washington to clarify the direction of the implementation of the MADANI Economic framework to improve investors’ confidence in Malaysia’s economic level and strengthen the perception and investment sentiment of foreign investors towards the country. - Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

MoF , Anwar Ibrahim , Amir Hamzah Azizan , MADANI ,

   

Next In Business News

Hong Leong Bank to fully subscribe to RM350mil Asean Green Bond to finance green warehousing
Coastal Contracts secures vessel sale and 5-year charter extension
TSH to seek strategic opportunities within sustainable segment
FBM KLCI ends at 3-year high
Gold hits record peak as rate-cut bets burnish appeal, silver jumps
KAB to expand its energy solutions and customer base
Oil climbs after Iran's president dies, Saudi flags issue with king's health
Bursa Malaysia introduces trading reminders in addition to UMA queries
Risk in data centre gold rush
Malaysia's air passenger traffic up 19.5% to 7.9 mln in April 2024

Others Also Read