Mapping Malaysia's Resource Centres

122 MAPPING MALAYSIA’S RESOURCE CENTRES MALAYSIAN INVESTMENT DEVELOPMENT AUTHORITY (MIDA) Introduction The Malaysian Investment Development Authority (MIDA) is the government’s principal agency for the promotion of the manufacturing and services sectors in Malaysia. 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. MIDA assists companies that intend to invest in the manufacturing and services sectors, as well as facilitates the implementation of their projects. MIDA also evaluates the following applications for projects in the manufacturing and its related services sectors: 1. Manufacturing licenses. 2. Tax incentives. 3. Expatriate posts. 4. Duty exemptions on raw materials and components. 5. Duty exemptions on machinery and equipment for the agricultural sector and selected services sectors. Area of Expertise 1. Promotion i. Promote investments in the manufacturing and services sectors. 2. Planning i. Undertake planning for industrial development in Malaysia. ii. Recommend policies and strategies on industrial promotion and development to the Minister of International Trade and Industry. iii. Formulate strategies, programmes and initiatives for international economic cooperation. 3. Evaluation i. Evaluate applications for manufacturing licences and expatriate posts; tax incentives for manufacturing activities, tourism, R&D, training institutions and principal hub; and duty exemption on raw materials, components and machinery. ii. Issuance of confirmation letters to the application of import duty and/or sales tax exemption on machinery, equipment, spare parts and consumables. 4. Monitoring i. Assist companies in the implementation and operation of their projects, and offer assistance through direct consultation and co-operation with relevant authorities at both the federal and state levels. ii. Facilitate the exchange of information and co-ordination among institutions engaged in – or connected with – industrial development. I N V E S T M E N T F O R I N D U S T R I A L D E V E L O P M E N T