The framework was announced by Prime Minister Anwar Ibrahim during the tabling of Budget 2025.

“We are working on the details, and the process has already begun.

“We will present the specifics at the upcoming National Investment Council meeting in December,” he told reporters after presenting Miti’s Q3 2024 report today.

Tengku Zafrul said the initiative is also to prepare Malaysia for the introduction of the Global Minimum Tax next year.

“This tax is around 15%, so we can no longer attract investments by offering tax exemptions down to 0%.

“Therefore, we need to offer other incentives focusing on talent and green initiatives,” he said.

He explained that it is a new way of looking at incentives that will no longer be given broadly, but more targeted at industries that can genuinely help enhance the nation’s economic value.

The New Investment Incentive Framework will include a RM1 billion strategic investment fund, aimed at enhancing local talent capacity and promoting high-value activities in the country.