MPN agrees MITI, agencies to focus on domestic direct investment - Tengku Zafrul

22 Aug 2023 09:17pm
Tengku Zafrul - BERNAMA
Tengku Zafrul - BERNAMA
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KUALA LUMPUR - The National Investment Council (MPN) meeting today agreed for the Ministry of Investment, Trade and Industry (MITI) and its related agencies to focus on domestic direct investment (DDI).

Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the setting of key performance indicator (KPI) is not only concentrating on foreign direct investment (FDI) but also encompasses DDI.

He said DDI which focused on sectors that contributed to the country’s development needed to be aligned with government-linked investment companies (GLICs) to provide local companies with investment opportunities and support.

"We agree that GLICs should also focus on DDI... institutionalise the process.

"Of course, they have their own governance but currently, there isn’t a clear process where we collaborate closely with GLICs to support our local companies in terms of FDI and DDI,” he told reporters after the MPN Meeting No 2/2023 at the MITI Tower here.

Meanwhile, Tengku Zafrul said MPN also discussed the empowerment agenda of the Malaysian Investment Development Authority (MIDA) as the lead agency among the investment promotion agencies (IPAs).

"The empowerment agenda of MIDA as the lead agency of the IPAs (was discussed) and coordinated with other IPAs to facilitate investors’ journey.

"The prime minister has mentioned many times that we need a one-stop centre and MIDA is the centre but we need to coordinate with all other agencies to ensure good execution,” he said.

The second MPN meeting was chaired by Prime Minister Datuk Seri Anwar Ibrahim and attended by Minister of Economy Rafizi Ramli and Treasury secretary-general Datuk Johan Mahmood Merican.
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Corporate figures attending the meeting included Employees Provident Fund (EPF) chief executive officer (CEO) Datuk Seri Amir Hamzah Azizan, Permodalan Nasional Bhd CEO Ahmad Zulqarnain Onn and Khazanah Nasional Bhd managing director Datuk Amirul Feisal Wan Zahir - BERNAMA