KUALA LUMPUR, Feb 13 — The government will introduce the New Investment Incentive Framework (NIIF) for implementation from the third quarter of 2025, said Deputy Investment, Trade and Industry Minister Liew Chin Tong.
He said the NIIF is an improvement focusing on high-value activities and economic spillover for submitted investment proposals, compared with existing practices that offer investment incentives based on specific products or activities.
“In an effort to increase the influx of foreign investments, the Madani Government is focusing on creating a paradigm shift that is no longer focused on the concept of ‘made in Malaysia’, but more concerned with the new paradigm of ‘made by Malaysia’.
“From Miti’s (Investment, Trade and Industry Ministry) perspective, this effort is also focused on the aspiration to develop a ‘local champion’, he said during a question and answer session at the Dewan Rakyat today in reply to a question by Datuk Zulkafperi Hanapi (Tanjong Karang) about additional measures to ensure foreign investment continues to increase this year.
According to Liew, the government will take advantage of Malaysia’s role as Asean chair this year to strengthen regional economic cooperation by ensuring the bloc continues to be a high-impact platform.
Miti will also promote Malaysia’s investment ecosystem as a select destination in Asean, which among others would strengthen supply chains in the region, he added.
— Bernama
