MIDA, MUFG Bank Partner To Accelerate Malaysia's High-Value Investment

KUALA LUMPUR, Aug 8 (Bernama) -- The Malaysian Investment Development Authority (MIDA) and global banking subsidiary MUFG Bank (Malaysia) Bhd have entered into a strategic partnership to accelerate high-value investment in Malaysia.

MIDA said the memorandum of understanding (MoU) focuses on attracting global investment in semiconductors, speciality chemicals, aerospace, pharmaceuticals, medical devices, electric vehicles, digital sectors and green technology.

Chief executive officer (CEO) Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid emphasised the partnership's role in strengthening Malaysia–Japan economic ties.

"This strategic alliance will actively promote investment opportunities in high-value and competitive sectors by facilitating bilateral investment.

"By leveraging our extensive business networks and ecosystems, we seek to foster joint ventures and strategic partnerships between Malaysian and Japanese companies," he said in a statement.

He added that MIDA and MUFG Malaysia will also work together to position Malaysia as a welcoming destination for Japanese investors, including through events and outreach activities that support mutual engagement.

MIDA added that the partnership marks a significant milestone in Malaysia's journey towards becoming a leading innovation hub in Southeast Asia, as it comes at a crucial time for Malaysia's economic transformation in light of the recent 13th Malaysia Plan announced last week.

Meanwhile, MUFG Malaysia CEO and country head Motohide Okuda said the MoU reflects a shared vision to support Malaysia’s economic growth by leveraging its global network to promote high-quality inbound investment from global and Japanese corporates, and further contribute to the sustainable development and long-term success of Malaysia.

-- BERNAMA