Malaysia eyeing 54 global projects worth RM21.1b

By SHAHEERA AZNAM SHAH / pic by MUHD AMIN NAHARUL

Malaysian Investment Development Authority (MIDA) is in talks with multinational firms from nine countries to bring in the operations of 54 projects worth RM21.1 billion into Malaysia beginning the first quarter of 2021 (1Q21).

International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali (picture) said during his winding-up session at Dewan Rakyat yesterday that the investment agency has identified 97 projects as of September 2020 that could potentially shift and expand their business operations in Malaysia.

The countries include China, the UK, the US, Taiwan, Australia, Japan, Switzerland, Germany, and South Korea.

“The International Trade and Industry Ministry, together with the Finance Ministry will continue to introduce incentives for manufacturing and services companies who are affected by the trade friction between the US and China,” he said.

He added that the government will continue monitoring the economic and policy development in the US under the new administration.

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