Latest news with #NIMP
New Straits Times
2 days ago
- Business
- New Straits Times
MIDF leveraging Islamic finance to drive industrial transformation
KUALA LUMPUR: The Malaysian Industrial Development Finance Bhd (MIDF) is leveraging Islamic finance to accelerate the country's industrial transformation, particularly in high-growth sectors such as advanced manufacturing, green technology, the digital economy, and halal industries. Its vice president and head of marketing and business advisory, Fadzlan Abu Bakar said Islamic finance serves as a strategic enabler to support Malaysia's developmental goals under the New Industrial Master Plan (NIMP) 2030. "We view Islamic finance not only as a funding tool but as a catalyst that supports ethical, inclusive, and sustainable industrial growth," he said in a statement. As a financial services provider, MIDF offers Shariah-compliant financing solutions that promote interest-free funding and equitable risk-sharing, benefitting especially small and medium enterprises (SMEs) seeking to scale operations and adopt new technologies. Among its flagship programmes is the Halal Accreditation and Technology Improvement (HATI) scheme, which addresses two key challenges faced by SMEs — halal certification and technological enhancement. "Through an RM100 million fund allocation, the scheme assists SMEs in sectors such as food and beverages, cosmetics, logistics, and pharmaceuticals in obtaining halal certification while upgrading their technological capabilities," it said. It noted that this initiative was carried out in collaboration with the Halal Development Corporation (HDC), Department of Islamic Development Malaysia (JAKIM), and other strategic partners. MIDF also plans to roll out more Shariah-compliant financing instruments over the next three to five years, tailored to SMEs and mid-sized firms while accelerating the digitalisation of Islamic finance delivery through fintech platforms. To this end, Fadzlan said MIDF is working on expanding equity-based instruments like Musharakah and Mudarabah, and exploring peer-to-peer Islamic financing and blockchain-based platforms to improve transparency and accessibility. It also aims to integrate environmental, social and governance (ESG) elements into its Islamic finance framework to ensure alignment with Malaysia's sustainability agenda. MIDF currently manages several ESG-focused government funds, including the Sustainable and Green Biz Financing and the Sustainable Mobility Biz Financing schemes. "These initiatives support Malaysian businesses in adopting cleaner technologies, improving energy efficiency, and contributing to the growth of the electric vehicle ecosystem. "MIDF will continue to align its financing mandates with key national policies such as the National Energy Transition Roadmap and the 12th Malaysia Plan to advance the country's low-carbon transition and promote an inclusive, sustainable industrial ecosystem," it added. Meanwhile, in conjunction with Expo 2025 Osaka, MIDF hosted a forum titled "The Benefits of Islamic Finance in Supporting a Resilient Global Economy" at the Business Hall of the Malaysia Pavilion. The forum provided an insight on Islamic finance's contribution in fostering a more resilient and inclusive global financial system, at the same time reinforcing Malaysia's position as a thought leader in Islamic finance and sustainable investment.
Barnama
2 days ago
- Business
- Barnama
MIDF Leveraging Islamic Finance To Drive Industrial Transformation
BUSINESS KUALA LUMPUR, June 4 (Bernama) -- The Malaysian Industrial Development Finance Bhd (MIDF) is leveraging Islamic finance to accelerate the country's industrial transformation, particularly in high-growth sectors such as advanced manufacturing, green technology, the digital economy, and halal industries. Its vice president and head of marketing and business advisory, Fadzlan Abu Bakar said Islamic finance serves as a strategic enabler to support Malaysia's developmental goals under the New Industrial Master Plan (NIMP) 2030. 'We view Islamic finance not only as a funding tool but as a catalyst that supports ethical, inclusive, and sustainable industrial growth,' he said in a statement. As a financial services provider, MIDF offers Shariah-compliant financing solutions that promote interest-free funding and equitable risk-sharing, benefitting especially small and medium enterprises (SMEs) seeking to scale operations and adopt new technologies. Among its flagship programmes is the Halal Accreditation and Technology Improvement (HATI) scheme, which addresses two key challenges faced by SMEs — halal certification and technological enhancement. "Through an RM100 million fund allocation, the scheme assists SMEs in sectors such as food and beverages, cosmetics, logistics, and pharmaceuticals in obtaining halal certification while upgrading their technological capabilities," it said. It noted that this initiative was carried out in collaboration with the Halal Development Corporation (HDC), Department of Islamic Development Malaysia (JAKIM), and other strategic partners. MIDF also plans to roll out more Shariah-compliant financing instruments over the next three to five years, tailored to SMEs and mid-sized firms while accelerating the digitalisation of Islamic finance delivery through fintech platforms. To this end, Fadzlan said MIDF is working on expanding equity-based instruments like Musharakah and Mudarabah, and exploring peer-to-peer Islamic financing and blockchain-based platforms to improve transparency and accessibility.
Barnama
21-05-2025
- Business
- Barnama
Malaysia Intensifies Aerospace, Maritime Growth To Strengthen Economic Resilience
KUALA LUMPUR, May 21 (Bernama) -- The Malaysian Investment Development Authority (MIDA) reaffirmed the nation's commitment to accelerating growth in the aerospace, and shipbuilding and ship repair (SBSR) sectors to strengthen economic resilience. In a statement today, MIDA said that these industries are key pillars of the New Industrial Master Plan (NIMP) 2030, which aims to transform Malaysia into a future-ready, innovation-driven economy. 'As global supply chains face ongoing disruptions and the race for technological leadership intensifies, Malaysia is doubling down on its strategic industries to secure long-term economic resilience and regional influence,' it said. MIDA said Malaysia is leveraging its strategic location and skilled workforce to become a preferred hub for advanced aerospace and maritime industries. 'MIDA is actively supporting investors to pioneer sustainable technologies, strengthen supply chains, and build industrial ecosystems that withstand global headwinds,' it said. MIDA said it also aims to elevate Malaysia's status as a regional aerospace hub, particularly in maintenance, repair and overhaul (MRO), manufacturing, and engineering services. 'With the global aerospace value chain shifting towards Asia, Malaysia is seizing the opportunity to enhance its competitiveness and capabilities. 'Malaysia's aerospace ambitions gained significant momentum in 2024, with nine approved projects valued at RM1.4 billion, 71 per cent from international investors. 'This achievement underscores growing global confidence in Malaysia's comprehensive aerospace ecosystem, particularly in MRO, manufacturing and engineering services,' it said.
Barnama
21-05-2025
- Business
- Barnama
Malaysia Accelerates Aerospace And Maritime Growth To Secure Future Economic Resilience
LANGKAWI, May 21 (Bernama) -- As global supply chains face ongoing disruptions and the race for technological leadership intensifies, Malaysia is doubling down efforts on its strategic industries to secure long-term economic resilience and regional influence. The Malaysian Investment Development Authority (MIDA) has reaffirmed the nation's commitment to accelerating growth in Aerospace and the Shipbuilding and Ship Repair (SBSR) sectors — key pillars of the New Industrial Master Plan (NIMP) 2030 aimed at transforming Malaysia into a future-ready, innovation-driven economy. Malaysia is leveraging its strategic location and skilled workforce to become a preferred hub for advanced aerospace and maritime industries. MIDA is actively supporting investors to pioneer sustainable technologies, strengthen supply chains, and build industrial ecosystems that withstand global headwinds.
New Straits Times
16-05-2025
- Business
- New Straits Times
Government to draw more high-quality FDI to boost growth: Amir Hamzah
KUALA LUMPUR: The government is actively working to attract more high-quality foreign direct investment (FDI) to stimulate growth, while maintaining a dynamic ecosystem, said Finance Minister II Datuk Seri Amir Hamzah Azizan. "Investments continued their growth momentum in the first quarter of 2025, recording a 9.7 per cent increase. "This reflects the positive response from global investors to the Madan government's pro-development policies and strong emphasis on sustainability, as outlined in the National Energy Transition Roadmap (NETR), New Industrial Master Plan (NIMP) 2030, National Semiconductor Strategy (NSS) and other key national policy frameworks," he said in a statement. Following Bank Negara Malaysia's announcement of a 4.4 per cent gross domestic product growth in the first quarter, Amir Hamzah said the government recognises potential downside risks to the official 2025 growth forecast of 4.5-5.5 per cent. The risks stem from weakening global demand, escalating geopolitical tensions and the growing trend of protectionist trade policies, particularly the recent imposition of reciprocal tariffs by the United States. He noted that the 2025 GDP forecast will be revised once the reciprocal tariff situation stabilises and greater clarity emerges. In the meantime, Amir Hamzah said the government will implement several mitigation measures to further strengthen the country's fundamentals, including efforts to boost domestic direct investment (DDI). The government will also continue to engage the US in bilateral trade discussions, while also leveraging multilateral platforms such as the Asean and the Regional Comprehensive Economic Partnership (RCEP) to uphold a fair and conducive global trade environment. "The Madani government will redouble efforts to diversify export markets and secure new trade agreements to mitigate the impact of global trade disruptions. "These efforts have already borne early fruit in 2024, as reflected in increased investment and exports to non-traditional markets such as Egypt, Pakistan, and Cambodia, alongside stronger export growth to other Asean member states," he added. Amir Amzah also said that the government will work to accelerate the implementation of the Ekonomi Madani reform agenda. This will be focusing on fiscal sustainability, strengthening economic value chains, protecting the welfare of the broader population through social safety net and unlocking the potential of the local talent pool. He pointed out that the government will continue to closely monitor both domestic and global economic developments. He added that the government is prepared to implement responsive and appropriate policy measures to ensure that Malaysia's economic growth remains consistent, sustainable and inclusive for the well-being of all segments of society. "The government remains committed to maintaining investor confidence and protecting domestic industries amid an increasingly complex global economic landscape," he said.
