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New Leadership at the Helm of Mida M A L A Y S I A N I N V E S T M E N T D E V E L O P M E N T A U T H O R I T Y I 2 M s 0 a s 2 r E - N E W S L E T T E R u 1 A M O N T H L Y I N D U S T R Y U P D A T E F O R G L O B A L I N V E S T O R S A N D M O R E ! c e h N E W L E A D E R O S F H M I P I CONGRATULATIONS D A A T A b T M N d H o u r e . f E l w A M R C r H I a h D E h E a A O m m L a M n Content A Tribute to the Legacy: MIDA Bids Farewell to Dato' Azman as CEO, Welcomes Mr. Arham as New Head People and Economic Strategic Empowerment Malaysia Steering Programme Towards Autonomous (PEMERKASA) Vehicle Technology Cyber Security in the Digital Transformation Age Premium Thematic Events and Industrial Parks Highlights for Global Growth It's easy! Just scan and follow us to be part of our social media community today. Twitter : @officialMIDA | Facebook : @officialMIDA | Instagram : @officialMIDA MILDinkedIn : MaAlaysian Investment Development Authority | Youtube : MIDA TV E-NEWSLETTE March R2021 Highlights A Tribute to the Legacy: MIDA Bids Farewell to Dato' Azman as CEO, Welcomes Mr. Arham as New Head t was a solemn 31 March I 2021 in MIDA Sentral as the Malaysian Investment Development Authority (MIDA) bade farewell to YBhg. Dato’ Azman Mahmud, Chief Executive Officer (CEO) of MIDA. Dato’ Azman, having spent 32 pivotal years in MIDA, was a well- regarded leader known for his drive to promote investments into Malaysia. MIDA has consistently achieved policies and strategies in the yearly investment targets of Government’s plan to revive He has been instrumental in RM200 billion between 2014 to Malaysia’s economy to ensure building Malaysia’s business 2019. that the nation's industries ecosystems, facilitating remain sustainable and the industrial development and Furthermore, MIDA has received livelihoods of people are promoting investments in line several accolades in recognition of protected. Dato’ Azman has with the country’s national its contribution to the country’s also led MIDA to actively re- investment aspirations. The development. Notably, MIDA’s engineering MIDA’s business ultimate objective is to position excellence garnered the Top processes to keep up with Malaysia as a preferred Investment Promotion Agency innovative and agile ways of investment destination in the award in the Asia-Pacific National working in this age of region and beyond given our category by Site Selection digitisation. The increased country’s strategic value magazine, a US-based efficiency of the various propositions and potential international business publication, functions of the organisation business opportunities. in 2015, 2016 and 2019. will enhance core business activities and visibility as well A Glimpse of Achievements The COVID-19 pandemic as strengthen the strategic presented unanticipated planning and policy advocacy During Dato’ Azman’s challenges for MIDA; however, capacity. leadership, MIDA has actively Dato’ Azman at the helm, helped advised on, recommended and MIDA and the industry This was particularly crucial implemented policies, strategies stakeholders navigate the during the pandemic as MIDA and directions for Malaysia’s uncertainties together with the remained resilient and manufacturing and services Ministry of International Trade responsive in providing advice sectors. Working together will and Industry. MIDA was and support to the existing all levels of stakeholders instrumental in the evaluation and potential investors despite including governmental process during the initial the international border McounterpIarts, fDoreign andA local Movement Control Order closures and restrictions in business communities as well as implementation and provided movement and gathering academia and training partners, pertinent inputs for the drafting of imposed. E-NEWSLETTMEarch 202R1 | 1 In 2020, MIDA successfully held over 500 online engagements with local and foreign stakeholders to update on the latest policy changes due to the pandemic through various online platforms and digital tools to ease investors and sustain confidence in Malaysia during the challenging time. Moreover, on 23 March 2021, the Business Travellers’ Centre in KLIA was launched as part of the One Stop Centre (OSC) initiative by MIDA to ease the movement of business travellers during the pandemic by expediting the approval of their entry into Malaysia, as Malaysia With the appointment of Mr. embarks on the path of Arham, the priority to ensure revitalisation. Malaysia is ‘open for business’ and investments remains intact. This Centre assumes a critical The newly appointed CEO is role in ensuring that Malaysia poised to lead MIDA towards remains steady on the path of further excellence. MIDA economic recovery and growth pledges its continual by enabling business travellers’ commitment to build dynamic movement to do their business and sustainable investment in Malaysia during the ecosystems, making Malaysia pandemic. The Legacy Continues the pre-eminent preferred investment destination for both Most recently on 26 March Effective 1 April 2021, Mr. Arham local and foreign businesses. 2021, MIDA’s InvestMalaysia Abdul Rahman, former Deputy Portal went live to the public. CEO I of MIDA has stepped up to All MIDA Management and staff Serving as a single entry point the role of the new CEO. He has an would like to express their for the stakeholders by offering outstanding track record and sincere appreciation to Dato’ 10 modules for online highly distinguished career Azman for his contributions and application submission, the spanning over three decades with dedication to the organisation portal focuses to transform MIDA. He has served primarily in and the country. MIDA will MIDA’s core business functions the foreign investment arm of the continue Dato’s Azman and his towards improved efficiency and organisation, with years of service predecessors’ legacies to ensure productivity by embracing an in Germany and the USA. His MIDA remains a world class integrated technology system to experience as a MIDA frontliner Investment Promotion Agency to expedite the application and for attracting and facilitating strengthen Malaysia’s position approval process and further foreign investments into the as the pre-eminent preferred allow companies to speed-up country, gives him the unique investment destination, under project implementation. proposition to lead MIDA in the Mr. Arham’s leadership. MIDAnew norm. E-NEWSLETTMEarch 202R1 | 2 Highlights People and Economic Strategic Empowerment Programme (PEMERKASA) year after the introduction of the Movement Control Order to contain the spread of the COVID-19 A pandemic, Malaysia continues its path towards economic recovery. The country is now in the 5th stage or ‘Revitalise’ stage of the 6R Comprehensive Economic Recovery Plan (Resolve, Resilient, Restart, Recovery, Revitalise and Reform). The ‘Revitalise’ stage started with the launch of Budget 2021 initiatives and on 17 March 2021, YAB Prime Minister announced a further stimulus package named PEMERKASA worth RM20 billion to stimulate and jump-start the economy. PEMERKASA will focus on 20 strategic initiatives to drive economic recovery, support businesses and provide targeted assistance to the rakyat and sectors that are still affected by the pandemic. Below are some of the initiatives introduced to help sustain businesses and ensure industries continuity and support manufacturing and services companies move towards the adoption of digitalisation and automation. COVID-19 pandemic mitigation Among the initiatives introduced for containment of the impact of the COVID-19 pandemic are: Voluntary Safe@Work initiative under MITI to protect workers, minimise disruption at work and reduce COVID-19’s impact on companies’ productivity: Employers mandated to provide a conducive workplace and accommodation facilities for workers Companies allowed to continue to operate while close contacts of COVID-19 patients are placed in a ‘safe work bubble’ until all close contacts are certified as safe from Increase of allocation from COVID-19. RM3 billion to RM5 billion for Manufacturing and Manufacturing Related Services the national immunisation companies that complied with the Safe@Work audit are programme, to bring forth the allowed additional tax deductions (maximum RM50,000) for target of herd immunity by expenditure incurred for rental of premises or hostels. MI DDecember 20A21. E-NEWSLETTMEarch 202R1 | 3 Spurring Economic Recovery Stimulating the recovery of affected economic sectors through expediting the implementation of development projects, incentives for hiring workers, tax incentives for targeted sectors and micro- credit facilities. ‘Geran Khas Prihatin' or Micro Credits GKP 3.0 Increase allocation to RM5 Additional RM500 million for billion for Small Scale Projects One-off Grant of RM1,000 to micro credit facilities through (for Contractors Class G1 to micro enterprises and SMEs to programmes under BSN, G4) for year 2021 re-open for business TEKUN, MARA and SME Corp Retaining Jobs Extend the scope of coverage of the incentive of hiring of workers (under the PenjanaKerjaya 2.0) under SOCSO to cover temporary and gig workers. Extend the Wage Subsidy Programme 3.0 for 3 months for targeted sectors, including tourism, wholesale and retail sectors and other businesses such as sports gymnasiums and spas, which were closed due to MCO. To support the recovery of the tourism sector which was hard-hit by the pandemic, the Government will: Extend the exemptions of the Tourism Tax and Services Tax on Accommodation provided by hotel
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