Latest news with #IMFC
Malay Mail
06-05-2025
- Business
- Malay Mail
Penang's new investment facilitation centre to spur locally driven growth amid global uncertainty, says CM
GEORGE TOWN, May 6 — The establishment of an Invest Malaysia Facilitation Centre (IMFC) in Penang will encourage domestically driven investments, said Penang Chief Minister Chow Kon Yeow. He said this is especially crucial during this period of global economic uncertainty. In welcoming the recent announcement by the prime minister that IMFC will also be established in Penang, he said it is a strategic move that can strengthen Malaysia's position as a regional investment destination. 'It also presents an opportunity for Penang to align its own initiatives, particularly the Penang International Financial Centre (PIFC), to ensure cohesive and complementary growth,' he told Malay Mail in a brief response to the announcement. He said the IMFC could help facilitate more Foreign Direct Investment (FDI) into Malaysia, benefiting multiple states including Penang. 'Such developments can enhance investor confidence in Malaysia's long-term economic stability and governance,' he said. 'For Penang, this underscores the need to strengthen our own investment value proposition, especially in new areas such as digital finance, ESG investments, and fintech,' he said. Chow said Penang's robust ecosystem in manufacturing and global business services will continue to draw in investors. 'The state government remains committed to fostering an investment climate that supports both international and local economic resilience,' he said. He said the state will wait for more information from the federal government on the execution of IMFC. Recently, Prime Minister Datuk Seri Anwar Ibrahim announced that Putrajaya will be establishing IMFC in Sarawak and Penang. The IMFC was first established in 2023 to enhance the existing advisory service centre at the Malaysian Investment Development Authority (Mida). Its primary objective was to expedite the process of various approvals for investments. A second IMFC was established in Johor in February this year at Forest City for the Johor-Singapore Special Economic Zone.
New Straits Times
06-05-2025
- Business
- New Straits Times
Malaysia's IMFC expansion aligns with investor trends
KUALA LUMPUR: Malaysia's decision to expand its Invest Malaysia Facilitation Centre (IMFCs) to Penang and Sarawak is timely and apt, with investor interest shifting towards strategic regional markets, economists said. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan described the IMFC expansion as a strategically sound move to promote regional investment inclusivity. "With existing IMFCs already in Johor and Kuala Lumpur, adding the centres in Penang - the northern economic gateway - and Sarawak - Malaysia's bridge to the Borneo and wider Asean corridor - demonstrates a commitment to regional investment inclusivity," he told Business Times. Mohd Sedek said Sarawak's untapped potential in renewable energy, resource-based manufacturing and logistics, with its proximity to the Philippines, Vietnam and Indonesia further enhancing its strategic appeal. Meanwhile, Penang, a mature hub for the electrical and electronics (E&E) sector, stands to benefit from better facilitation services to expedite high-value project approvals. "The success of the Johor-Singapore Special Economic Zone (JS-SEZ), partly attributed to proactive investment facilitation, shows how targeted institutional support through IMFCs can directly contribute to investor confidence and project realisation," he added. Mohd Sedek pointed to successful global benchmarks like Ireland, where IDA Ireland operates over 10 regional and international investment offices, helping attract over €24 billion in foreign direct investment in 2023. This, he said, demonstrates how a decentralised, regionally tuned facilitation structure can yield measurable economic returns. However, he stressed that to be truly effective, the IMFCs must adopt a data-driven approach, aligning facilitation services with sectoral roadmaps and local strengths to ensure these centres are not just symbolic, but catalytic in unlocking regional competitiveness. Prime Minister Datuk Seri Anwar Ibrahim, in a special parliamentary session yesterday, said the government will establish new IMFCs in Penang and Sarawak to facilitate investor's needs and monitor approved projects' progress. This is a part of the government's strategic plan to safeguard economic stability and protect national over the short and medium term, aiming to accelerate the implementation of development projects and government approvals for investment. Meanwhile, the Socio-Economic Research Centre (SERC) executive director Lee Heng Guie said the IMFC is a comprehensive one-stop centre aimed at expediting investor onboarding and minimising bureaucratic hurdles. Besides offering incentives, he said the centres need to ensure investors can navigate regulations smoothly, find suitable land to build factory and get the necessary approvals without delays. "When investors want to invest in one country, it is not just about the incentives. They also look at the regulation and administrative processes. "In Malaysia, multiple layers of departmental approvals are often required, which can slow things down. What investors are hoping for is that the one-stop centre will help cut through these layers and speed up the entire process," he added. DRIVING DOMESTIC INVESTMENT MOMENTUM As of April this year, RM8.5 billion had been allocated, including into venture capital funds as well as in semiconductor projects. Under the GEAR-uP program, government-linked investment companies (GLICs) have made a commitment to make direct domestic investments (DDIs) worth RM120 billion within five years, with RM25 billion for 2025. Mohd Sedek said the investments under NIMP 2030 is essential to reduce Malaysia's dependence on foreign capital, especially amid rising global trade tensions and protectionist policies. "As we've seen this year, trade wars and tariffs can disrupt foreign investment flows. Strengthening DDIs allows Malaysia to gradually build a more self-reliant economy by deepening value-added activities in key sectors like E&E and reinforcing domestic supply chains," he said. While full self-sufficiency may be ambitious, Mohd Sedek said increasing the investments in stages can serve as an economic buffer, enhancing national resilience - similar to China's drive toward greater economic autonomy. He noted that Malaysia's medium-term strategy of relying on domestic investment, particularly through GLICs, is broadly sustainable amid global uncertainties and volatile capital flows. He said it provides a pragmatic buffer by mobilising local capital into infrastructure, digital and green sectors. However, Mohd Sedek said sustainability depends on disciplined execution - avoiding overdependence on GLICs, ensuring capital efficiency and crowding in private investment. "Crucially, strong governance is needed to uphold transparency, depoliticise investment decisions and ensure public institutions remain aligned with long-term national and fiduciary objectives. "Without this, risks of misallocation, market distortion and systemic overexposure may undermine its effectiveness," he added. Lee highlighted the importance of GLICs not just in driving large-scale projects but also in uplifting local startups and SMEs, enabling them to integrate into regional and global supply chains. "The real value of foreign investments is when they generate jobs and help raise the capabilities of our domestic industries," he noted. He also advocated for consistent progress tracking, ensuring that investments translate into tangible economic benefits.
The Star
05-05-2025
- Business
- The Star
Govt allocates additional RM50mil to Matrade to expedite exploration of new markets
KUALA LUMPUR: The government will allocate an additional RM50 million to the Malaysia External Trade Development Corporation (MATRADE) to expedite efforts to explore new markets. Prime Minister Datuk Seri Anwar Ibrahim said this initiative is part of the MADANI government's strategy to ensure economic stability and safeguard national interests in the short to medium term following the sudden reciprocal tariffs imposed by the United States on Malaysia. "Among the measures to be implemented is assisting small and medium enterprises (SMEs) in penetrating new markets through participation in international trade expos and exhibitions, as well as facilitating business matching with foreign buyers," he said during today's Special Parliamentary Meeting in the Dewan Rakyat on the US tariffs. Anwar said that the government will continue encouraging efforts to attract global businesses and talent to Malaysia, especially in national priority sectors such as artificial intelligence (AI), including academics from leading universities. "We have indeed begun to see expressions of interest from prominent figures in science and professional fields in relocating to Malaysia," he added. The prime minister also announced the expansion of the Invest Malaysia Facilitation Centre (IMFC) to Penang and Sarawak to provide services to investors and monitor project approval processes. "So far, the IMFC as a one-stop centre for investors has been opened in Kuala Lumpur in December 2023 and at Forest City for Johor-Singapore Special Economic Zone (JS-SEZ) in February 2025. Meanwhile, Anwar said that as of April 2025, RM8.5 billion has been allocated under the Gear-UP programme, including venture capital investments and semiconductor projects. "In driving the New Industrial Master Plan (NIMP) 2030, focus continues to be placed on direct investments to enhance value-added activities in key sectors such as electronics and electrical (E&E) and to strengthen the domestic value chain. "In line with this, under the Gear-UP programme, government-linked investment companies (GLIC) have committed to making RM120 billion in domestic direct investments over five years, with RM25 billion allocated for 2025," he added. - Bernama
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Business Standard
28-04-2025
- Business
- Business Standard
India growth story largely intact amid turbulent times: FM Sitharaman
The latest Economic Survey had estimated India's GDP growth in the range of 6.3-6.8 per cent for FY26 Asit Ranjan Mishra Listen to This Article Amid a flurry of downgrades to India's growth forecast by international agencies, Union Finance Minister Nirmala Sitharaman has told the International Monetary and Financial Committee (IMFC) that the country's economy is expected to grow by 6.5 per cent in 2025-26, supported by strong domestic consumption and investment demand despite global uncertainties. In a written statement submitted to the advisory body of the Washington-based International Monetary Fund (IMF) last week during the Spring Meeting— before her premature departure for India following the Pahalgam terrorist attack —Sitharaman said India's inflation is likely to remain stable at around 4 per cent in FY26,
Al Arabiya
25-04-2025
- Business
- Al Arabiya
Saudi Minister of Finance holds press briefing on IMFC
Watch Live: Saudi Minister of Finance and IMFC Chair Mohammed Aljadaan and IMF Managing Director Kristalina Georgieva hold a press briefing on the International Monetary and Financial Committee.
