Kuala Lumpur
On Tuesday, a Malaysian official announced the creation of evaluation tools to enhance the country’s investment policy, ensuring Malaysia remains a top choice for key industries. The ‘scorecard’ will align with the National Investment Aspirations (NIA) policy, which focuses on six main areas: boosting economic complexity, generating high-value jobs, enhancing domestic connections, fostering new economic clusters, promoting inclusivity, and addressing environmental, social, and governance (ESG) factors.
During his keynote speech at the Securities Commission-World Bank Conference 2024, Deputy Minister of Investment, Trade and Industry Liew Chin Tong emphasized the importance of this scorecard for assessing quality investments. He mentioned that collaboration among the capital market and various stakeholders is crucial for Malaysia to capitalize on its potential as a regional economic powerhouse.
Liew noted that Malaysia is likely to gain from geopolitical tensions, as many manufacturing operations relocate to the country, benefiting local micro, small, and medium enterprises (MSMEs). The government aims to support these businesses because of their critical role in driving Malaysia’s economic growth.
He highlighted Malaysia’s advantages, including a stable society, strong legal framework, good infrastructure, a diverse workforce, and a strategic location along global trade routes. This year’s conference theme, ‘Empowering MSMEs: Cultivating Compassionate Growth through the Capital Market,’ underscores the essential role of MSMEs in fostering economic growth and inclusivity.
