Latest news with #MIDA
BusinessToday
a day ago
- Business
- BusinessToday
MIDA: Malaysia Nets RM4.68 Billion In Potential Investments From Japan At Osaka Expo
Malaysia made a strong economic showing at Expo 2025 Osaka as the nation secured RM4.68 billion in potential investments from Japan, the Malaysian Investment Development Authority (MIDA) said. This figure represents a major milestone, accounting for 56.9% of the RM7.39 billion in total investments attracted under Malaysia's Expo participation. The achievement was announced during the opening ceremony of the Malaysia Pavilion, officiated by Deputy Prime Minister Datuk Seri Fadillah Yusof and attended by Deputy Minister of Investment, Trade and Industry Liew Chin Tong. 'Expo 2025 Osaka is the platform for Malaysia to demonstrate its value as a future-ready, innovation-driven and sustainability-conscious partner. 'The investments secured reflect global confidence in Malaysia's green economy and digital transformation agenda,' Liew said. The RM4.68 billion investment milestone follows a targeted investment mission across Kyoto, Kobe, Osaka and Tokyo from April 12-19, 2025, led by MIDA Deputy Chief Executive Officer Sivasuriyamoorthy Sundara Raja. The mission featured high-level meetings with major Japanese corporations in advanced manufacturing, clean energy and technology-driven sectors. MIDA Chief Executive Officer Datuk Sikh Shamsul Ibrahim said the investment value underscores Malaysia's strong investment fundamentals and the strategic trust Japanese partners place in Malaysia. 'MIDA will continue to anchor high-quality investments that align with our national priorities,' Sikh Shamsul added. Malaysia is targeting RM13 billion in investment and trade outcomes from the Expo, focusing on seven priority sectors: Sustainable agriculture, renewable energy, smart living, green manufacturing, industrial reform, environmental management and the halal industry. Related
Malay Mail
2 days ago
- Business
- Malay Mail
Vape products regulated under Act 852, says MOH amid confusion over licensing and enforcement
PUTRAJAYA, June 2 — The Ministry of Health (MOH) today reaffirmed its commitment to ensuring strict enforcement and control on the contents and emissions of all types of smoking products to safeguard public health and safety. In a statement today, MOH clarified that the importation, manufacturing and distribution of e-cigarette liquids in the local market are strictly regulated under the Control of Smoking Products for Public Health Act 2024 [Act 852] The ministry's Disease Control Division stated that the issuance of interim manufacturing licences for such devices falls under the jurisdiction of the Ministry of Investment, Trade and Industry (MITI), through the Malaysian Investment Development Authority (MIDA) under the Industrial Coordination Act 1975 and local authority by-laws. MOH noted that under Section 2 of Act 852 and its accompanying regulations and orders, e-cigarette liquids are defined as smoking products and therefore strictly regulated. The ministry also clarified that multiple government agencies are involved in regulating the e-cigarette industry in Malaysia, including the Royal Malaysian Customs Department, which oversees import controls under the Customs (Prohibition of Imports) Order 2008. In addition, safety standard testing for devices is conducted by SIRIM and enforced under the Trade Descriptions (Certification and Marking of Electronic Cigarette Devices) Order 2022, under the Trade Descriptions Act 2011, by the Ministry of Domestic Trade and Cost of Living. It stated that any decision regarding the import, manufacturing and distribution of e-cigarette liquids is a collective decision made by all relevant government agencies. MOH issued the clarification following media reports on May 28 that U.S.-based vape and e-cigarette company Ispire Technology Inc. had been granted a temporary licence to operate in Senai, Johor. — Bernama
Barnama
4 days ago
- Business
- Barnama
MIDA, UNGCMYB Forge Partnership To Boost ESG Adoption, Sustainable Investment
BUSINESS KUALA LUMPUR, May 31 (Bernama) -- The Malaysian Investment Development Authority (MIDA) and the UN Global Compact Network Malaysia and Brunei (UNGCMYB) have forged a strategic partnership to ignite a new era of sustainable and responsible investment in Malaysia. In a joint statement, both parties said that the partnership, sealed through a memorandum of understanding (MoU) signed earlier, is committed to accelerating the adoption of environmental, social and governance (ESG) principles among businesses, laying the foundation for Malaysia's transition towards a more sustainable and inclusive economy. They said the MoU brings together MIDA's mandate as the country's principal investment promotion agency and UNGCMYB's expertise in corporate sustainability. They said UNGCMYB plays a vital role in supporting businesses in Malaysia and Brunei in aligning with global sustainability goals by providing essential resources, tools, and expert guidance. MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the collaboration aims to step up efforts to promote awareness, build capacity and encourage greater private sector participation in ESG initiatives, in line with the Ministry of Investment, Trade and Industry (MITI)'s Green Investment Strategy (GIS) launched last August. 'As Malaysia moves forward with our Net Zero 2050 agenda, we are seeing strong national commitment, policy clarity, and growing investor interest in green sectors,' he said. Meanwhile, UNGCMYB executive director Faroze Nadar said the MoU is a strategic step towards accelerating sustainable business practices across Malaysia. 'By combining our strengths in knowledge-sharing and ESG capacity-building, we can bridge the gap between awareness and tangible action, ensuring businesses are equipped to meet both the sustainable development goals and evolving market demands,' he added. The joint statement added that the MoU will involve collaborative initiatives that facilitate multi-stakeholder participation in sustainability programmes, including the joint organisation of conferences, roundtables, and selected development programmes focusing on ESG and broader sustainability topics.
The Sun
4 days ago
- Business
- The Sun
MIDA, UNGCMYB forge partnership to boost ESG adoption, sustainable investment
KUALA LUMPUR: The Malaysian Investment Development Authority (MIDA) and the UN Global Compact Network Malaysia and Brunei (UNGCMYB) have forged a strategic partnership to ignite a new era of sustainable and responsible investment in Malaysia. In a joint statement, both parties said that the partnership, sealed through a memorandum of understanding (MoU) signed earlier, is committed to accelerating the adoption of environmental, social and governance (ESG) principles among businesses, laying the foundation for Malaysia's transition towards a more sustainable and inclusive economy. They said the MoU brings together MIDA's mandate as the country's principal investment promotion agency and UNGCMYB's expertise in corporate sustainability. They said UNGCMYB plays a vital role in supporting businesses in Malaysia and Brunei in aligning with global sustainability goals by providing essential resources, tools, and expert guidance. MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the collaboration aims to step up efforts to promote awareness, build capacity and encourage greater private sector participation in ESG initiatives, in line with the Ministry of Investment, Trade and Industry (MITI)'s Green Investment Strategy (GIS) launched last August. 'As Malaysia moves forward with our Net Zero 2050 agenda, we are seeing strong national commitment, policy clarity, and growing investor interest in green sectors,' he said. Meanwhile, UNGCMYB executive director Faroze Nadar said the MoU is a strategic step towards accelerating sustainable business practices across Malaysia. 'By combining our strengths in knowledge-sharing and ESG capacity-building, we can bridge the gap between awareness and tangible action, ensuring businesses are equipped to meet both the sustainable development goals and evolving market demands,' he added. The joint statement added that the MoU will involve collaborative initiatives that facilitate multi-stakeholder participation in sustainability programmes, including the joint organisation of conferences, roundtables, and selected development programmes focusing on ESG and broader sustainability topics. As part of the collaboration, MIDA also announced its strategic partnership in the Forward Faster Symposium 2025 -- UNGCMYB's flagship programme dedicated to accelerating sustainability, which is scheduled to take place on June 5, 2025, at MIDA's headquarters.
Yahoo
4 days ago
- Business
- Yahoo
ACWA Power gains Malaysian partners for investments of up to $10bn
Saudi Arabia-based energy transition and water desalination company ACWA Power has announced the signing of a memorandum of understanding (MoU) and strategic partnership agreements (SPAs) with major Malaysian entities for investments of up to $10bn. The partnerships, formed during the ASEAN-GCC summit held in Kuala Lumpur, Malaysia on 27 May 2025, aim to leverage the country's ecosystem and Saudi Arabia's expertise in energy transitions while supporting decarbonisation efforts across Southeast Asia. ACWA Power signed an MoU with the Malaysian Investment Development Authority (MIDA) to explore the development of up to 12.5GW of power generation capacity by 2040, involving an initial investment of $10bn. This partnership will help Malaysia raise its installed renewable energy capacity to 70% by 2050. ACWA Power has also signed SPAs, along with heads of terms (HoTs) for joint development agreements, with Tenaga Nasional Berhad (TNB), Terengganu and UEM Lestra. These agreements will facilitate feasibility studies and joint development of projects, including floating solar photovoltaic systems (FPV), combined cycle-gas turbine technology (CCGT) and large-scale water desalination. The collaborations unlock opportunities across renewable energy, green hydrogen production and advanced water solutions, aligning with Malaysia's National Energy Transition Roadmap (NETR). They will also contribute towards achieving objectives set out by Saudi Vision 2030 for global climate leadership. ACWA Power CEO Marco Arcelli stated: 'These strategic agreements represent a significant milestone in ACWA Power's expansion in Southeast Asia and reflect our commitment to supporting Malaysia and the broader ASEAN region's energy transition. 'By combining our global expertise in renewables, water desalination, and green hydrogen with the local knowledge of our Malaysian partners, we are not only accelerating the deployment of clean energy solutions but also fostering technology transfer, job creation and long-term economic growth and social well-being of the local community.' In February 2025, ACWA Power entered a 25-year power purchase agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a 2GW wind project in Egypt. "ACWA Power gains Malaysian partners for investments of up to $10bn" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
