The Malaysian Investment Development Authority (MIDA) is urging investors to utilise incentives given for the biomass industry and green technology sector.
MIDA executive director, manufacturing development, Sangaran Narayanan, said MIDA wants to promote the biomass industry and green technology sector, and welcomes investors to bring in high-value added technology to Malaysia to maintain the country’s attractiveness for high-value investments in the region.
He said unlike in most other industries, biomass industry investors can get a second round of incentives on finishing their first round.
Sangaran said MIDA will also provide both fiscal and non-fiscal support to domestic and foreign investors to promote high technology investments in research and development (R&D) and innovation-led activities.
“MIDA will continue intensifying collaboration with the relevant agencies in the areas of human resources, infrastructure, utilities and R&D,” he told Bernama at the Biomass Asia Conference 2013 organised by Biomass-SP and MBIC at the Sunway Putra Hotel Kuala Lumpur here today.
Sangaram said MIDA targets to attract RM48 billion in investments in the manufacturing sector this year and is eyeing more investors from emerging countries.
“Last year, 804 projects involving investments of RM41 billion were approved compared with RM56.1 billion for 846 manufacturing projects in 2011,” he said.
Sangaran said the Performance Management and Delivery Unit has targeted overall investments of about RM1.3 trillion and for the manufacturing sector to contribute about RM1.7 trillion to gross national income by 2020.
“We have the infrastructure to benefit the investors, and we are now working to improve it in order to attract more,” he added.
