Business

KUALA LUMPUR, Collective efforts between the Federal and state governments are essential to create a more cohesive and dynamic business environment in Malaysia, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. By aligning strategies and complementing each other’s resources, the Federal and state governments can better support domestic industries and attract more investments into Selangor and Malaysia, he said. ‘To seize these opportunities, Malaysia must develop an ecosystem conducive to innovation, entrepreneurship, and investment. ‘This includes providing support to our entrepreneurs and small and medium enterprises (SMEs) and fostering strong partnerships between the public and private

PETALING JAYA, Prime Minister Datuk Seri Anwar Ibrahim today announced a RM1 million donation to the National Chamber of Commerce and Industry of Malaysia (NCCIM) in recognition of its support for the government’s efforts to encourage domestic and international investment. He also expressed his gratitude to the chamber for its support in coordinating and understanding government policies, empowering the people and assisting in every foreign visit to attract new investments. “The efforts by the Malaysian Investment Development Authority (MIDA) and other government agencies could not have succeeded without the full support of NCCIM,” he said at NCCIM’s 62nd Anniversary Gala

KUALA LUMPUR, Malaysia’s 2023 nominal gross domestic product (GDP) amounted to RM1.8 trillion, said the Department of Statistics Malaysia (DOSM). Growth moderated to 1.6 per cent from the double-digit 15.9 per cent in 2022. In a statement, chief statistician Datuk Seri Dr Mohd Uzir Mahidin said that despite the moderated performance, the economy remained resilient, particularly through private final consumption expenditure, which increased 6.7 per cent. ‘The growth was propelled by ongoing enhancement in employment and wage through the implementation of a new minimum wage of RM1,500 starting May 2023,’ he said. DOSM today released the statistics for Malaysia’s Gross

KUALA LUMPUR, The Malaysian Investment Development Authority (MIDA) and Invest Selangor Bhd (ISB) have co-hosted the MIDA Invest Series – Selangor: ‘Unfolding Its Business Potential’ to showcase Selangor’s investment landscape and opportunities. MIDA chief executive officer Sikh Shamsul Ibrahim Sikh Abdul Majid said the event, which attracted 200 participants, reflected MIDA’s commitment to engage with local investors and explore the vast opportunities available within Selangor. ‘This effort underscores MIDA’s pivotal role as a facilitator, connecting investors with promising opportunities and fostering a robust investment environment in Malaysia. ‘Following the success of the first Invest Selangor series in August 2019, we

KUALA LUMPUR, The Malaysian Industrial Development Finance Bhd (MIDF) has approved soft loans totalling RM103.54 million to automate and modernise 29 companies up to June 2024. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said these soft loans represent the government’s policy stance on incentivising local industries to embrace smart manufacturing using Industry 4.0 (IR4.0) technologies that allow for efficient production in manufacturing. In terms of talent, he noted that these new technologies will require workers with the right skill sets and the government has undertaken multiple initiatives to ensure a robust talent pipeline. ‘The success of