MIDA Expects More Quality-driven Investments Under New Incentive Framework -- Tengku Zafrul

KUALA LUMPUR, Feb 12 (Bernama) -- The Malaysian Investment Development Authority (MIDA) anticipates more quality-driven investments that will generate meaningful spillover benefits for the Malaysian economy under the New Incentive Framework (NIF).

Chairman Tengku Datuk Seri Zafrul Abdul Aziz said that under the NIF, investors and companies are expected to introduce the right technologies, create high-quality employment opportunities, and deliver meaningful returns to the economy to qualify for enhanced incentives.

“(Investors) might complain that why is everyone not treated the same, but given the limited resources that we have, I think we need to reward those who are giving the right kind of spillover to the economy. 

“I think that is positive, and we have started this policy as announced about a few weeks ago, and so far there’s been positive input from the investors, especially the right investors,” he said after launching One Credit here today.

Tengku Zafrul also foresees growing interest and stronger participation from companies applying under the NIF.

“This (NIF) has been prepared for over a year, and it is based on the input of the companies, and they all know. Therefore, we don’t expect a slowdown in terms of applications,” he said.

Meanwhile, he said the digital economy will be a key driver in achieving Malaysia’s quality investment targets in 2026.

He noted that data centre development helps build the ecosystem around the digital economy.

“(From data centres), we are seeing more and more of these companies coming in, not just on the service side, but also on the equipment side. 

“(Currently), everybody needs computing power, so that will help (to drive) the digital economy,” he added. 

-- BERNAMA