KUCHING: Invest Malaysia 2024 (IM2024) in Hong Kong showcased Malaysia’s ‘industrial diplomacy’ as a key driver of the nation’s sustainable growth.
Hosted by Bursa Malaysia Berhad, the event highlighted the National Semiconductor Strategy (NSS) and Green Investment Strategy (GIS), which are integral parts of Malaysia’s industrial reforms aimed at propelling the nation’s resilient and sustainable economic development.
In a statement, Bursa Malaysia noted that IM2024 in Hong Kong represents the third major financial city in Bursa Malaysia’s engagement session with equities investors across the region.
“The FBM KLCI has appreciated 12.7 per cent as at YTD Sept 11 this year and looks set to grow further on the back of Malaysia’s strong macroeconomic indicators such as commendable GDP growth, encouraging uptick in investments and exports, as well as a currency that is at its strongest in 18 months,” it said.
During his keynote address, International Trade and Industry (MITI) Minister Senator Tengku Datuk Seri Zafrul Tengku Abdul Aziz emphasised that through the NSS, Malaysia is building on its strengths in the back-end process and Outsourced Assembly and Testing (OSAT) component of the global industry value chain, to advance towards higher-value activities such as integrated circuit design, advanced packaging and equipment manufacturing.
“MITI understands that investors – whether in industries or in our stock market – are looking for two key criteria: clarity of policies, and strength of implementation of those policies.
“Our efforts on both fronts appear to have paid off, judging from the 18- per cent increase in approved investments for 1H2024, and the 12.7-per cent rise in our equities market in the past year.
“Coupled with our strong economic fundamentals, Malaysia is fast becoming the preferred regional destination for high quality investments under the Madani economy framework,” he said.
He also noted that IM2024 in Hong Kong focused on the investment opportunities available under the NSS and GIS, both of which are aimed at enhancing Malaysia’s long-term industrial resilience and sustainability, while positioning the country as a regional leader in green manufacturing and technology.
“This would, in turn, make Malaysia a more competitive trading nation. Investors’ confidence has also been earned through MITI’s efforts in enhancing the ease of doing business, as well as strong public-private collaboration to address key issues such as skilled industrial talent pipeline,” he said.
Following the keynote address, Zafrul engaged in a fireside chat moderated by Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift where he (Zafrul) shared how the NSS serves in the 3-phase roadmap for Malaysia’s semiconductor industry to move up the value chain in the next decade, towards meeting headline targets.
He also elaborated on MITI’s role in supporting the implementation of the GIS, which is crucial for realizing Malaysia’s Net Zero target by 2050, as outlined by the National Investment Policy (NIMP) 2030 and the National Energy Transition Roadmap (NETR).
“Invest Malaysia continues to be one of the best platforms for effectively communicating our policies and implementation updates, making Malaysia the preferred investment destination for high-quality investors,” he said.
For the record, the said event attracted over 350 investors including fixed income, equity and private equity investors with combined Asset Under Management (AUM) of over USD3 trillion (approximately RM13 trillion).
As such, its next Invest Malaysia will be organised in Iskandar Puteri, Johor on September 26 to highlight the Johor- Singapore Special Economic Zone propositions.
