Tengku Zafrul: RM1.37t domestic direct investment approved since 2013, as equally important as FDI

KUALA LUMPUR, June 16 — Domestic direct investment remained equally important to the Ministry of Investment, Trade and Industry despite the focus on foreign direct investment which has been recovering since the Covid-19 pandemic.

“Many of these investments, particularly in the services and manufacturing sectors, have fostered innovation and enhanced Malaysia’s global competitiveness,” he said in his keynote address at the launch of MIDF’s Second Chance Financing scheme here today. These, he said, include the Supply Chain Coordination Programme, where Mida integrates local companies into the supply chains of MNCs and LLCs, whose technological capabilities are leveraged by domestic companies to enhance their competitiveness, of which the Mida-Perodua Digital Transformation Ecosystems is a case in point.

As of May 31, 2023, Tengku Zafrul said a total of 335 SME projects, amounting to RM123 million, have been approved under the Industry4WRD Intervention Fund.

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