GEORGE TOWN: The Malaysian Investment Development Authority (Mida) aims to attract RM120bil in investments in the services sector this year.
Last year Malaysia saw RM162bil in overall investments, with the services sector accounting for RM117bil, and the manufacturing sector providing RM41bil.
Mida executive director (services development) Datuk Mathialakan Chelliah said the agency was looking to attract potential investors from Europe and the Asia Pacific region, namely Australia, Japan and Singapore in order to achieve the investment target.
“Mida is targeting to attract 14 European companies in the first half of this year and between 40 and 50 companies from the Asia Pacific region,” he added.
He was speaking to reporters after officiating at Mida’s seminar on, “Government’s Initiatives to Propel the Services Sector”, here yesterday.
Mathialakan also urged companies in the northern region to participate in the RM1bill Domestic Investment Strategic Fund (DISF) announced on July 3 last year.
The fund is to accelerate the participation of Malaysian-owned companies in the global supply chain, namely high-value added, high technology, knowledge-intensive and innovation-based industries. “Mida has approved 15 companies with grants totalling RM107.8mil since last July and is aiming for full distribution by 2015,” he said.
He said the targeted sectors under the DISF were aerospace, medical devices, pharmaceutical, machinery and equipment, advanced electronics, as well as services related to design, research and development and engineering.
On the seminar, Mathialakan said it was an avenue for exchanging views and knowledge, updating participants with the latest government policies and initiatives, as well as opportunities in the services sector.
Source: The Star
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