Malaysian Investment Development Authority (MIDA) is expected to be more important in the years to come in ensuring an inclusive economic growth and build Malaysia's image as a high technology country and a global activity centre...
Datuk Seri Najib Tun Razak said the role of the Malaysian Investment Development Authority (MIDA) is expected to be more important in the years to come in ensuring an inclusive economic growth and build Malaysia's image as a high technology country and a global activity centre.
The prime minister said the organisation that had been operating since 1967 was capable of helping the country achieve a developed nation status.
"Currently, Malaysia is moving to enter Industry 4.0, that is, digitalisation and automation of the manufacturing and services sectors.
"It is estimated that a 20 per cent increase in digital investment has the potential to propel the gross domestic product growth by 1.4 per cent for Malaysia," he said in his welcoming remarks in the programme booklet in conjunction with MIDA's 50th anniversary celebration here tonight.
PM Najib was accompanied by his wife Datin Seri Rosmah Mansor at the ceremony, which was also attended by Minister of International Trade and Industry Datuk Seri Mustapa Mohamed and MIDA Chairman Tan Sri Amirsham Abdul Aziz.
PM Najib added that the development of human capital in line with the skills requirements of Industry 4.0 would also help to maintain and attract more investments into the country.
Towards this end, he said the government was committed to exploring and mobilising initiatives to adapt Industry 4.0 to the current industrial landscape.
"With the commitment that has been shown, as well as, experience in facing challenges during this half century, I believe MIDA would be able to shoulder the responsibility to pave the way to ensure that the nation moves in line with the change in technology," he said.
PM Najib said in conjunction with MIDA's 50th anniversary celebration, he was also confident that the organisation would continue to play a role in attracting strategic investments into the country in order to realise the government's aspiration to ensure the wellbeing of the people.
MIDA is a key government promotion agency under the Ministry of International Trade and Industry to supervise and drive investments in the manufacturing and services sectors in Malaysia.
With only 37 workers when it started operations in 1967, MIDA now has 700 employees. With its headquarters in Kuala Lumpur Sentral, the agency has 12 district offices and 23 offices overseas.