Incorporated as a statutory body under the Malaysian Industrial Development Authority (MIDA) Act, the establishment of MIDA in 1967 was hailed by the World Bank as “the necessary impetus for purposeful, positive, and coordinated promotional action” for Malaysia’s industrial development. Today, MIDA is Malaysia’s cutting-edge, dynamic and pioneering force in opening pathways to new frontiers around the globe. Recently, MIDA launched its 21st office in Istanbul as Türkiye is becoming an international key trade hub in the region.
Datuk Wira Arham Abdul Rahman, CEO of MIDA, stated, “By opening this office, we are on the right track and at the right time. The decision to open an office in Istanbul is the right move considering the key importance of Türkiye.”
A GOOD STARTING POINT FOR INVESTORS
MIDA provides secure, experienced, and bureaucratic access points for investors in Malaysia. MIDA CEO Datuk Wira Arham explained the primary role of MIDA is to attract investments into Malaysia and stated that “We currently have 20 worldwide offices in major exporting countries such as the United States, the European Union, and the Asia Pacific. With the addition of our 21st office in Istanbul, we will be able to attract more investment, particularly from Türkiye.”
MIDA HELPS MALAYSIANS INVEST IN NEIGHBORING COUNTRIES
Datuk Wira Arham continued:
“The decision to set up the office in Istanbul is timely as this office will serve as the window to coordinate and streamline all Turkish investments in Malaysia. Malaysia is looking for new collaborations to grow together, and the launch of MIDA’s office in Istanbul will help us extend our outreach programmes with Türkiye and its trading partners. This also includes other neighboring countries, such as Russia, Azerbaijan, Turkmenistan, and the other ‘Stan’ countries.”
THE ROBUST TURKISH ECONOMY
“Türkiye and Malaysia have an excellent trade relationship. Türkiye’s good and robust economy is also a reason for carving out a way for MIDA to set up an office. The Republic has strength in many areas, including machinery and engineering, aerospace and aviation, electrical and electronics, metal, and food production, and digital investment. In terms of technology, Türkiye is more advanced and is comparable to other EU countries. Türkiye has developed an excellent ecosystem for aviation and aerospace focusing on the military. I always believe there will also be enormous potential for Türkiye, particularly in machinery and engineering in commercial aviation, aerospace, and the military sector.”
MALAYSIAN MINISTER AND IMPORTANT TURKISH STAKEHOLDERS ATTENDED THE OPENING CEREMONY
“The strength of Türkiye in specific sectors is in line with our focus in Malaysia. We have launched the National Investment Aspirations and have identified some of the sectors we want to do more commercial reasons. The focus sectors are electric and electronics, pharmaceuticals, digital investment, chemicals, and aerospace. As you can anticipate, there will be more synergy between Malaysia and Türkiye in the long term. There will be much potential in bilateral relations.”
The Malaysian Senior Minister and Minister of International Trade and Industry (MITI) graced the opening ceremony of the MIDA Istanbul Office with the presence of important stakeholders and strategic partners such as Turkish Ministry of Trade, Invest In Türkiye and DEIK Turkey Malaysia Business Council as well as Turkish and Malaysian investors.
The launching of MIDA Istanbul Office was held following the signing of the expanded Türkiye -Malaysia Free Trade Agreement, which will offer unique business opportunities to the business community of both countries.
MALAYSIA HAS MORE TO OFFER TO REESTABLISH THE BROKEN SUPPLY-DEMAND CHAIN AFTER THE PANDEMIC
“After the pandemic, Malaysia continues to reestablish the supply-demand chain. With the opening of MIDA Istanbul Office it will strengthen our efforts to restore the supply-demand chain such as the global chips shortage which impacted the automotive industry. For instance, to buy a car in Malaysia, you have to wait nearly 10 months. Therefore, having the new office here, it will help us to offer many opportunities to restore this supply-demand chain in both ways” said MIDA CEO.
MIDA: YOUR STRATEGIC PARTNER FOR BUSINESS GROWTH
“At MIDA, we provide valuable information to potential investors as our Management and staff have a better understanding of the needs of the business community such as providing information on doing business in Malaysia, and the relevant regulations and procedures at federal and state levels. We provide end-to-end facilitation to Turkish companies who want to invest in Malaysia, and likewise, Malaysian investors expanding their business growth in Türkiye. Thus, MIDA is your strategic partner for business growth” concluded Datuk Wira Arham.