Page 15 - Preview (MYS)
P. 15

 7 2008 2009
0 4.4 6.0 3 0.7 1.0 0 1.5 1.0 8 1.5 1.5 3 4.2 25.7 1 4.4 3.6 9 1.1 0.7 8 1.0 2.4 2 2.0 19.7 3 41.0 7.9
1.7 4.2
2.0 3.8 2 28.3 14.5 0 4.6 4.3 1.5 3.7
62,785 32,637
ECONOMY
STRATEGY
and communications technology; education services; electrical and electronic; business services; private health care; agriculture; and greater Kuala Lumpur. Taking this into account, MIDA will continue to adopt a more targeted approach and intensify its efforts in identifying and attracting quality investments in these areas in line with the government’s aspirations to become a high-income nation.
administration rules support and facilitate investments in the economy by non-residents, making it a ‘premier
through the free purchase of any ringgit assets including ringgit-denominated bonds/sukuk issued by non-residents. It is permissible to source ringgit from the investor’s own external accounts
rules also allow the on-spot or forward sale of foreign currency with licensed onshore banks or with overseas branches which have been appointed by licensed onshore banks.
In terms of immovable assets, any foreign investor is free to purchase residential/commercial properties as long as it is in compliance with the guidelines issued by the Economic Planning Unit. Investors can borrow any amount of finance or to refinance the purchase of residential/commercial properties in Malaysia, excluding the purchase of land. As far as onshore borrowing is concerned, foreign investors are permitted to borrow any amount in foreign currency from
also have the right to borrow in ringgit
(without any restriction on the amount) from resident companies or individuals to finance activities in the real estate sector. Non-resident investors can further borrow any amount for margin financing from resident stock-broking companies or repatriate funds from divestment of ringgit assets or profits/ dividends arising from investments.
Investment Act, 1986, the incentives made available to investors are Pioneer Status, Investment Tax Allowance, Industrial Adjustment Allowance, Infrastructure Allowance and Double Deduction on Expenses for the promotion of exports.
WHY MALAYSIA
MIDA is currently intensifying its ef- forts to promote foreign investments through various channels. Some of its core strategies undertaken in this di- rection include:
• Foreign investors can hold 100% equity in all investments in new projects and investment in expansion/diversification projects by existing companies.
• Automatic approval for the application of expatriate posts in the manufacturing sector, particularly in areas where there is dearth of expertise.
• Automatic issuance of manufacturing licenses except for activities pertaining to safety, health, environment and religious matter.
• Providing investors competitive fiscal and non-fiscal incentives to promote quality investments into targeted sectors.
• Organisation of trade and investment missions to sele- cted countries and regions and specialised and targeted project missions to capital- exporting countries.
• Organising dialogue sessions between foreign companies and local companies operating in Malaysia.
• Hosting international invest- ment conferences to spur interest in investment among foreign business communities.
• Intensifying specialised and targeted project missions to
capital-exporting countries and forming special promotional teams to visit, negotiate and offer customised incentives to attract specific projects.
In its continued attempt to increase foreign invest-ment, especially from the Middle East, the Government of Malaysia has undertaken several
YAB Prime Minister to Saudi Arabia and UAE in January 2010 and specific mission projects to Abu Dhabi and Tehran. Roundtable meetings have also been conducted in Dubai and Kuwait. MIDA has also made forays into advertising in industry- and market- specific periodicals such as Khaleej Times Newspaper and Gulf Business Magazine in order to enhance the image branding for Malaysia.
In addition, MIDA has been participating in investment marts such as the Gulf Food (Dubai) in February 2010 and the MENA Investors Summit to establish talks with prospective investors. It has been actively involved in sponsoring industry leader’s programmes for Abu Dhabi Chamber of Commerce, Mumtalakat (Bahrain) and Oman Chamber of Commerce and also journalist programmes such as for Gulf Business Magazine, Gulf News and Dubai One
industrial leaders and journalists on the development and investment potential in the manufacturing and services sectors in Malaysia. In this context, it is worth mentioning that MIDA’s second office in the GCC is coming up in the Kingdom of Saudi Arabia in 2011, the first being in Dubai.
Spearheading the development of Malaysia for nearly 43 years by mobilising investments, MIDA has earned several accolades along the
the ‘Efficiency Service Award’ consecutively from 1991–1994. In 1995, it was also awarded the ‘Asia Pacific Investment Promotion Agency of the Year’ and in 1997 the ‘Asia Investment Promotion Agency Award for the Best Marketing Campaign’ from Corporate Location/
awards and recognition further testify MIDA’s credentials.
20
13
































































   13   14   15   16   17