Mida deputy CEO of investment promotion and facilitation Sivasuriyamoorthy Sundara Raja said the partnership is aimed at further consolidating Malaysia’s position as an alternative supply chain hub in this region.
“This collaboration is important to Mida, when we do our investment promotion activity around the world, we need to position Malaysia as a global production house as well as a regional and global distribution hub,” he said.
Through the partnership, both parties will prepare to intensify joint efforts to drive overseas inflows of capital, infrastructure, and knowledge to develop key priority sectors such as electrical and electronics, pharmaceutical, digital economy, aerospace, and chemicals.
The MoU was formalised today by Sivasuriyamoorthy and DHL Express Malaysia and Brunei MD Julian Neo. Mida chairman Sulaiman Mahbob was also present to witness the ceremony.
In his welcoming speech, Sulaiman said that the agreement symbolised the strengthening of the robust partnership between Mida and DHL Express despite the unexpected challenge of Covid-19.
“We are hopeful that this strong private and public partnership will help solidify investors’ confidence and broaden business opportunities.
He also hoped that the agreement will help create a “continuous sustainable stream of quality investment activities in the country in line with our nation’s New Investment Policy”.
According to the latest DHL Global Connectedness Index 2022 – a study on the flow of trade, people, capital, and information worldwide – Malaysia ranks second in trade connectivity in Southeast Asia, and 14th out of 171 economies globally.
“DHL Express’ growth is very much tied to Malaysia’s own since establishing our roots here 50 years ago,” said Julian.
“With a presence that spans 220 countries and territories, DHL Express is well equipped to support companies looking to diversify their supply chains in Malaysia,” he added.
In 2022, Malaysia recorded approved investments totalling RM264.6 billion from 4,454 projects, with the services sector representing the largest chunk of total approved investments with RM154 billion.