Malaysia approves National Investment Aspirations

Malaysian Senior Minister cum International Trade and Industry Minister Azmin Ali (Photo: malaymail.com)

Kuala Lumpur (VNA) - The Malaysian Government has approved the National Investment Aspirations (NIA), a forward-looking growth framework that will outline the basis for Malaysia’s investment policy reforms.

In a statement on April 21, Malaysian Senior Minister cum International Trade and Industry Minister Azmin Ali said the NIA would focus on revitalising Malaysia’s investment climate, attracting high-quality investments into the country and creating high-income jobs, particularly post COVID-19.

Moving forward, Malaysia will adopt a comprehensive approach to reinvigorating the investment ecosystem and respond adequately to emerging megatrends, as well as the evolving needs of our investors.

Malaysia needs to rise to this challenge by continuously enhancing unique value propositions which span across a wide array of elements such as incentives, facilitation, talent, infrastructure, as well as legal, regulatory, procedural and institutional mechanisms, he said.

He added that the NIA would focus on inclusivity and sustainability that is compatible with the environmental, social and governance (ESG) goals, as new investments that are anchored upon these elements would propel growth in the technologically sophisticated sectors, as well as strengthen forward and backward linkages.

According to him, the NIA encourages sustained flow of quality investments in new and possibly complex growth areas, foster innovation and sophistication, create greater job opportunities and improve income prospects./.