The Malaysia Investment Development Authority (MIDA) held its distinguished “MIDA Invest Series – Perak: Unfolding Its Business Potentials” at Perdana Hall, MIDA Sentral in Kuala Lumpur. In a collaboration with the Perak State Government, facilitated through its invested promotion body, InvestPerak, this event welcomed an audience of over 250 participants. It stands as a pivotal initiative for the Government’s ongoing efforts to spotlight compelling investment opportunities within Perak.
The event began with a warm welcome address by Datuk Wira Arham Abdul Rahman, Chief Executive Officer of MIDA followed by a keynote address by Dato’ Seri Saarani Mohamad, Perak Menteri Besar. Esteemed guests from several organizations were present to show their support and contribution towards MIDA’s initiative.
During the keynote address delivered by Saarani said, “The Automotive High-Tech Valley (AHTV) in Tanjung Malim is a major initiative expected to revitalize the Malaysian automotive industry. The project is expected to attract RM32 billion in investments over the next 10 years, creating thousands of job opportunities and positioning Malaysia to become a regional leader in the production of next-generation vehicles. The establishment of a new High-tech Industrial Hub in Kerian, announced by Prime Minister, Dato’ Seri Anwar Ibrahim in the recent Belanjawan 2024, is foreseen to greatly support high technology and capital incentive projects which will directly nurture Perak and further spur the conducive business environment for investors, targeting especially the niche sectors.”
Meanwhile, Arham highlighted, “Perak is a region brimming with potential, boasting manufacturing, agriculture, and tourism sectors. Hubs like the Automotive High-Tech Valley (AHTV) and Lumut Maritime Industrial City (LuMIC) are driving investments and job creation, reflecting our commitment to progress.”
“In the first half of 2023, Malaysia achieved a remarkable RM132.6 billion in approved investments across the manufacturing, services, and primary sectors. It is worth noting, as of 30 June 2023 this state has garnered over RM22.3 billion in realized investments from a total of 283 manufacturing projects, creating more than 22,000 jobs. For instance, esteemed companies such as Toyo Tire Malaysia, Coherent Malaysia, Murata Electronics, and Hume Cement, are among many who have made their mark in Perak,” he added.
“The region is abundantly blessed with natural resources, and both local and federal agencies are offering enticing incentives, making it highly attractive for potential investors. Moreover, Perak boasts robust infrastructure, excellent connectivity, and a competitive cost of doing business when compared to neighboring states. The untapped potential here is immense, presenting a promising prospect for businesses to thrive and prosper,” said Loh Sze Yee, Perak State Executive Council Member of Tourism, Industry, Investment and Corridor Development.
The Perak state government focuses on key sectors such as manufacturing, tourism, food security, and minerals beneficiation for sustainable growth. The focus on maximizing the E&E supply chain in northern Perak, capitalizing on the automotive sector, and developing maritime industries in Lumut highlights the region’s dynamic potential. Perak’s renowned eco-tourism offerings, including Royal Belum’s State’s commitment to establishing a Halal Industrial Park in Lekir, reflects its proactive stance in addressing food security challenges and ensuring a robust supply of Halal-certified products, bolstering regional food security amidst global complexities.
The ‘Invest Series – Perak: Unfolding Its Business Potentials’ program was a significant success, offering in-depth insights into the available opportunities and outlining the support and facilitation provided to companies and prospective investors. Ultimately, the initiative was geared towards fostering quality employment opportunities for the local population, thus contributing to the state’s overall economic growth and prosperity. With its strategic location, thriving manufacturing sector, diverse economic clusters, and rich natural resources, Perak remains one of the promising investment destinations in the country. MIDA is dedicated to supporting and facilitating investments in the state.