National Investment Seminar : Jovial Insights for Malaysian Industries to Glory (Special Report)

Malaysia witnessed a pivotal event in its economic landscape as the Malaysian Investment Development Authority (MIDA) joined forces with the Federation of Malaysian Manufacturers (FMM) and the Malaysian Industrial Development Finance Berhad (MIDF) to host the National Investment Seminar at the prestigious Mandarin Oriental Hotel in Kuala Lumpur.

The seminar, themed "Re-Energising Domestic Investment," aimed to revitalize and boost domestic investment, enhance supply chain resilience, and foster innovation within the country. It served as a transformative platform for over 300 participants, including industry captains, entrepreneurs, government officials, and various stakeholders from the manufacturing and services sectors.

Chairman of MIDA, Tan Sri Dato’ Seri Dr. Sulaiman Mahbob, in his keynote speech reiterated the government's commitment to empowering small and medium enterprises (SMEs) by boosting productivity, encouraging technology adoption, and enhancing competitiveness in both local and international markets. He underlined the pivotal role SMEs play in Malaysia's economy and pledged ongoing support to help them thrive.

Challenges and opportunities presented by global dynamics, emphasizing the importance of innovation and continuous development of solutions.

“The challenges we face today are complex and global. While these challenges pose risks, they also offer unique opportunities. To thrive, we must embrace innovation and develop new solutions continuously.

MIDA's commitment to empowering small and medium-sized enterprises (SMEs) to boost productivity, technology adoption, and competitiveness.

“ Recognising the vital role of SMEs in Malaysia’s economy, MIDA is committed to empowering these businesses. We aim to boost productivity, encourage technology adoption, and enhance competitiveness in local and international markets. MIDA remains steadfast in supporting SMEs on.

The economic revival and investment success in 2023, showcasing Malaysia's proactive efforts to revitalize the economy and attract significant investments.

“We are grateful that the COVID-19 pandemic is over, we have now arrived at a point where

economic activities have all resumed, and life returned to normal.

“However, new challenges have surfaced. The outbreak of geopolitical tensions compounded the supply chain disruptions triggered by COVID-19, driving up prices of energy, food, and almost everything else. Global inflation soared, leading many countries to tighten their monetary policies, causing the global economy to slow down.

“But we have remained vigilant, constantly monitoring global political events and striving to remain informed and proactive in protecting our investors' best interests. With all the right efforts in place, Malaysia’s position as a global business hub remains strong.

“In 2023, we secured a record-breaking approved investment of RM329.5 billion in various economic sectors (manufacturing, services, and the primary sector), with more than 5,000 projects approved, potentially offering nearly 130,000 job opportunities. Domestic Investment (DI) contributed 38.3 percent, equivalent to RM141.1 billion.

MIDA's role in enhancing domestic investment through initiatives such as the Domestic Investment Coordination Platform (DICP) and the Invest Malaysia Facilitation Centre (IMFC).

“ The competition for global investments is intensified, leaving no room for complacency. Building on our current momentum and facing the challenges ahead, MIDA is poised to take on a

more dynamic and engaging role in 2024 and beyond. 13. Our primary focus will be on the comprehensive implementation of all Government initiatives and mandates to achieve the desired outcomes aligned with the national agendas namely the Twelfth Malaysia Plan (12MP), the MADANI Economy Framework, the New Industrial Master Plan (NIMP) 2030, and the National Energy Transition Roadmap (NETR).

“We aim to foster a robust, sustainable, and resilient economic environment that can attract and retain significant investments, driving Malaysia towards a prosperous future.

The focus for industrial developement in Malaysia right now are on sustainability, automation, and enhancing business scalability in Malaysia.

“ We've achieved remarkable success, yet our ambition remains undiminished as we strive to

discover new markets and empower communities. Global trends in Environmental, Social and

Governance (ESG) and commitments are influencing every sector, including investment facilitation. We are bolstering local companies’ capabilities to integrate into the global supply chain, a vital move for industries such as integrated circuit (IC) design, where local expertise and innovation can catapult Malaysia onto the world stage.

“ As global players transition towards sustainable and compliant business models, MIDA is aligning its strategies with ESG principles to attract high-value, innovative, quality and sustainable investment projects. We are keen to collaborate with partners focused on "impact investing."

“ Our goal is to empower the local supply chain, support companies in automating processes, and enhance cost-efficiency while meeting industry demands and mitigating social and environmental impacts.

Tan Sri Datuk Sri Dr Sulaiman also did reiterate government’s commitment on sustainability with mentioning Domestic Investment Accelator Fund – ESG matching grant.

“Embracing sustainability is more than just a trend; it is a strategic move that can drive growth and long-term success for SMEs in Malaysia. For this, the DIAF-ESG matching grant launched recently is crucial for preparing SMEs and MTCs to adopt ESG practices, aligning with the government's National Energy Transition Roadmap (NETR). MIDA welcomes SMEs to leverage this platform to transition towards sustainability.

“ Both FI and DI performance should be viewed not only as opportunities to unlock financial returns but also to improve social and environmental outcomes.

Under his stewardship as MIDA Chairman , he lays down structural shifts to MIDA and long-term strategies to promote Malaysia as a top choice for investors, in collaboration with regional economic corridors.

“MIDA understands that having information at your fingertips is crucial for investors to make well-informed decisions. That's why we've set up the IMFC to streamline approval processes, offer consultation and advisory services, and cut through bureaucratic red tape. Investors seeking assistance are invited to visit us at MIDA HQ.

“By uniting key Ministries and Agencies—including the Inland Revenue Board of Malaysia, Immigration Department of Malaysia, Royal Malaysian Customs Department, Malaysian Communications and Multimedia Commission, Department of Labour Peninsular Malaysia, Tenaga Nasional Berhad, and Telekom Malaysia Berhad—the IMFC, a testament to the whole-of-government approach to ease-of-doing business in Malaysia. So far, we have facilitated over 900 companies, ensuring their smooth journey through the investment landscape.

“MIDA also has a dedicated SME Investment Desk in all of its state offices to facilitate and coordinate its support services for Malaysian businesses. For the period January to March 2024, we have organised 14 programmes and have reached out to more than 420 SMEs throughout Malaysia.

“We will continue to work closely with companies and businesses as well as key partners such as FMM, to foster a more conducive business environment and increase growth opportunities. Our support services include identifying gaps in the ecosystem, financing technology, and creating opportunities.

“ The National Investment Council has entrusted MIDA with a significant role of being the main driver for investment promotion for the country. Together with MITI, MIDA will spearhead efforts to promote the country as a top choice for investors. MITI and MIDA are streamlining investment strategies with regional economic corridors namely East Coast Economic Region (ECERDC), Northern Corridor Implementation Authority (NCIA) and Iskandar Regional Development Authority (IRDA).

“This strategic move aims to eliminate duplicative functions, prevent investor confusion, and improve investment facilitation while efficiently deploying cumulative institutional expertise. To that end, Invest KL Corporation (InvestKL) has become a subsidiary under MIDA effective 1 June 2024, reflecting the MADANI Government's overarching approach towards better public resource utilisation and improved public service delivery.

Mr. Jacob Lee, Vice President of FMM, expressed satisfaction at the seminar's turnout, emphasizing the collaborative effort between industry stakeholders and the government to reinvigorate domestic investment in priority sectors such as electrical and electronics, food and beverage, and pharmaceuticals.

“ The impressive turnout today speaks volumes. It signifies our collective commitment and enthusiasm to “re-energise domestic investment” and at the same time, to help our SMIs expand to high value-added activities in the value chain; towards the common aim of advancing the Malaysian manufacturing industry. More importantly, today’s investment seminar by MIDA and FMM,

demonstrates both the industry and the Government’s joint effort and strong resolve to attract and re-energise domestic investment in priority sectors such as electrical & electronics, food and beverage and pharmaceutical & medical device sectors.

“ One of the main highlights of the Seminar is the business matching session, one of the core elements of the ILP. Since the launch of the ILP in 2021, FMM has onboarded 22 anchor companies and 196 (SME) supplier companies.Today, 10 more anchor companies from the electrical & electronics, food and beverage and pharmaceutical & medical device sectors came onboard and

almost 200 business matching meetings were organised for about 80 SMIs to explore business opportunities.

The collaboration between MIDA and FMM aimed at promoting domestic investment and enhancing global business opportunities for Small and Medium Industries (SMIs).

“ Let me begin by thanking MIDA for entrusting FMM to co-organise the first joint MIDA-FMM National Investment Seminar; this is not the first time we collaborated with MIDA, for, we have been working closely with MIDA from Day 1 since our Industrial Linkage Programme (ILP) soft launch in late 2021 up until last year, in June for our MIDA-FMM Industrial Linkage Day in Penang, aimed at helping our SMI members to explore business opportunities with MNCs.

Acknowledgment of MIDA's efforts in attracting high-value foreign investments, such as Microsoft and Google's significant investments in Malaysia.

“ Please also allow me to start by congratulating MIDA for their excellent effort in attracting high-value added investments into Malaysia, such as Microsoft’s USD2.2 billion investment which includes the building of a huge data centre to support Malaysia’s digital transformation and Google’s plan to invest USD2.0 billion to build its first Google data centre and Cloud Google region right here in Malaysia; all these are set to transform Malaysia into a leading digital hub

regionally. Tahniah MIDA.

Importance of balancing foreign investments with domestic investments to strengthen the local industry ecosystem and create more job opportunities.

“Let us also not forget the importance of Domestic Investments (DI). FI is only one part of the equation; a strong domestic industry and ecosystem are also important. Strong domestic demand results in more DIs and a healthy DI is essential for successful FI. DIs usually create more jobs, and this arises from the small and medium industries (SMIs) which provide employment opportunities.

“DIs also provide continuous opportunities to local industry players to expand their businesses. I strongly believe that FIs and DIs complement each other. The transfer of knowledge from FIs and the need for a robust domestic industry to support FI businesses lead to innovation and the growth

of domestic businesses. In time and with the proper support, these domestic businesses can move beyond playing a supporting role to FI and can compete internationally to building the Malaysian brand overseas.

The Industrial Linkage Programme (ILP) by FMM was highlighted as a key initiative to assist SMIs in navigating the global supply chain and fostering inclusive growth.

“The Industrial Linkage Programme (ILP), one of FMM’s flagship programmes for SMIs, was crafted with the above in mind and our main aim is to help our SMI members to explore business opportunities in the global supply chain and at the same time, nurture them to overcome high-entry barriers to penetrate the global supply chain and create a pool of suppliers who can generate or add

value to the economy. We are confident that the joint collaboration with MIDA will help extend domestic linkages, improve inclusivity and help to develop a resilient supply chain.

Emphasis on fostering public-private partnerships to boost domestic investment in priority sectors like electronics, food and beverage, and pharmaceuticals.

The business matching session and pitching sessions aimed to provide networking opportunities for SMIs, start-ups, investors, and corporate leaders to explore business collaborations and investments.

All in all, the business matching, pitching and sharing sessions that will take place during the Seminar provides ample opportunities for our Malaysian companies, in particular, SMIs to hear from the MNCs or anchor companies, what it takes to be their/global suppliers and both MIDA and FMM believe such opportunity can help spring up our SMIs forward and also open them up to many opportunities of growing their companies, expanding their markets and also spur more domestic investments and also help the country develop a resilient supply chain.

Finally, to all participants, thank you very much for joining us today. For those that have signed up for the pitching and business matching sessions in the afternoon, I wish you a successful session and hope that in the coming months, you will establish new businesses, make new deals/sales, perhaps some of which are in export markets, and maybe even make new investments.

Prof. Dr. Anthony Dass, Executive Director of the Malaysian Institute of Economic Research (MIER), provided valuable insights on the global economic landscape, offering forecasts and analysis crucial for policymakers and businesses to navigate opportunities and challenges successfully.

As Malaysia navigates the complexities of the global economic landscape, Prof. Dr. Anthony Dass, Chief Economist at the Malaysian Institute of Economic Research (MIER), provides a detailed analysis of the factors driving the nation's economic outlook for 2024. Prof. Dr. Dass expresses cautious optimism, highlighting key drivers valuable insights on the global economic landscape, offering forecasts and analysis crucial for policymakers and businesses to navigate opportunities and potential challenges.

Sustaining Consumer Spending in Services

Prof. Dr. Dass emphasizes the resilience of consumer spending in the services sector, which remains a cornerstone of Malaysia's economic stability. "A tight labor market, disinflation, and real income gains are pivotal in sustaining consumer spending," he explained. "These factors, combined with steady economic growth, bolster the services sector significantly."

Potential Rotation Back to Goods

Reflecting on the post-pandemic economic shift, Prof. Dr. Dass points to a potential rotation back towards goods consumption. "The pandemic had shifted consumer focus towards services, but we are now seeing signs of a rotation back to goods," he noted. "There is pent-up demand for goods post-pandemic, driven by the natural cycle of depreciation and replacement."

Pickup in Global Crisis

Despite geopolitical uncertainties, Asia continues to be a beacon of economic resilience. "Asia remains the main driver of global economic activity," Prof. Dr. Dass stated. "With global disinflation and the US economy holding up, there are positive signals for regional growth."

Foreign Direct Investment (FDI) Flow

FDI flows into Malaysia are buoyed by favorable conditions, according to Prof. Dr. Dass. "Cheaper cost of capital due to disinflation and interest rate adjustments are attracting FDI," he said. "Additionally, reshoring from the China-centric value chain is contributing to trade and economic growth."

Strong Outlook for Asia Pacific

The Asia Pacific region is projected to remain robust, driven by key economies such as Indonesia, India, and the Philippines. "We expect strong performance from these countries, with additional tailwinds from the semiconductor industry in South Korea and Taiwan, spilling over to ASEAN," he elaborated. "While China is expected to grow moderately, cooling inflation and a healthy job market provide a stable outlook."

Prof. Dr. Dass also highlighted the impact of supply chain shifts, green initiatives, and electric vehicle (EV) growth. "These factors, along with capital inflows, are reshaping the regional economic landscape," he added.

Manufacturing Trends

The manufacturing sector is expected to see gradual improvement. "Most of the headwinds faced in 2023 are set to fade," he observed. "Spending patterns are normalizing, and the inventory-to-GDP ratio is stabilizing."

Volatility Remains

Despite these positive trends, volatility persists due to slower global disinflation rates and geopolitical tensions. "A tight labor market and robust consumer demand in the US, coupled with a strong USD, are putting upward pressure on energy, food, and import costs for some emerging markets," Prof. Dr. Dass warned. "Geopolitical tensions continue to add pressure on energy prices."

Delay in US Fed Rate Cut

A potential delay in the US Federal Reserve rate cut could have significant repercussions. "An interest rate differential widening could lead to an inflow of capital to the US, complicating the Fed’s task with increased liquidity," he explained. "This scenario may cause financial market instability due to carry trade, leading to imbalances. Euro and Asian markets could face tighter financial conditions and slower economic activities, with some countries struggling to maintain currency stability against a stronger US dollar."

Geopolitical Tensions

Prof. Dr. Dass highlighted the ongoing impact of geopolitical tensions. "These tensions are a source of economic and financial market volatility, leading to deeper fragmentation of the global economy," he stated.

Country-Specific Outlooks

The US economy could bend but not break, supported by consumer spending, labor market strength, and wage growth," Prof. Dr. Dass said. "The Fed will need to be more patient, but risks of a recession remain low."

Europe is poised for a soft landing in 2024, with disinflation and potential rate cuts rebounding real wages. The services sector is gaining momentum, and global manufacturing recovery could boost exports," he noted.

Japan’s economy may sputter, but real wage gains and a weak yen are positives for tourism and corporate earnings abroad. Capital spending and semiconductor tailwinds are expected to drive modest growth," he said.

China faces challenges but can steer its economy with private spending and ongoing fiscal stimulus. Risks of deflation, debt, and real estate issues remain, but long-term focus on cutting-edge technology holds promise," Prof. Dr. Dass added.

Malaysia's Prospects

Prof. Dr. Dass is optimistic about Malaysia's potential to outperform. "On the supply side, employment is strong, while on the demand side, income growth is promising. Exports, driven by global trade growth and technological upcycles, are set to thrive," he stated. "Monetary policy remains stable, and fiscal policy with significant development expenditure will support growth."

"Strong FDI flows into strategic sectors like electronics, digital aerospace, and exports from mid-tier companies will bolster the economy. Growth-enhancing sectors such as high-value added activities, renewable energy, AI, EVs, and halal services are key areas of focus," he elaborated.

"In conclusion, Malaysia faces external and domestic challenges, but with robust reforms aimed at rebuilding budgetary resilience and ensuring debt sustainability, the outlook remains positive," Prof. Dr. Dass concluded.

Prof. Dr. Anthony Dass’s comprehensive analysis underscores the multifaceted drivers of Malaysia's economic resilience and growth, highlighting the nation's strategic responses amidst global uncertainties.

During an engaging luncheon session, YB Liew Ching Tong, Deputy Minister of Investment, Trade and Industry (MITI), stressed the importance of resilient supply chains in the post-Covid-19 era and amid current geopolitical challenges. His remarks resonated with the audience, highlighting the government's ambitious agenda to drive industry growth, spur technological advancements, and promote sustainable practices.

YB Chin Tong says about importance of supply chain resilience and the shifting global business landscape.

“This seminar is very timely as firms and companies grapple with post-Covid-19 recovery as well

as the increasingly polarised and potentially bifurcated global economy. Like it or not, the world today is a different place compared to just a few years ago.

“Supply chain resilience is now the most important concern of firms everywhere. While it is a

difficult global environment, it may also be Malaysia’s opportunity to rise again if we play our

cards well as a nation.

He encourage for collaboration between the government and industries to enhance localisation programs, benefiting both multinational corporations (MNCs) in Malaysia and domestic firms.

“Previously, it was very difficult to convince multinational corporations (MNCs) to localise as

cheap supplies were available from elsewhere, aided by the rapid containerisation of world

trade over the past three decades.

“Seizing the opportunities offered by the global shift, the Government and the industries need to

work together to reduce and eventually break down the walls between MNCs in Malaysia and

domestic firms through win-win localisation programmes so that MNCs get shorter and more

resilient supply chains while domestic firms get access to a much larger market by doing more

for the MNCs in Malaysia. This is the first change we must pursue.

He did emphasis on fostering innovation through increased investment in Research and Development (R&D).

“The ultimate aim of having robust localisation programmes is to create technologically capable

Malaysian firms so that they can produce for domestic and export markets. In the 1990s,

Malaysia was known as a high-end manufacturing hub of that time, just behind South Korea and

Taiwan but ahead of most other developing countries. We now want to see Malaysian

companies acquiring, developing and innovating new technologies.”

“Thus, the second change we want to push is for Malaysian firms to aspire to be technology

leaders rather than followers. To do so, we need to invest a lot more in R&D. Domestic firms

should also be given as many opportunities by MNCs and also by the government, as well as

GLCs and GLICs to experiment with new indigenous technologies.

“We are known in markets like China as having very unique F&B and FMCG products. It is good

but we should not be content with this. We must also aspire to be a producer of high end equipment and machine tools, and a semiconductor powerhouse, among others.

”He calls an advocacy for a "economy mission" approach, drawing inspiration from successful innovation initiatives such as the United States' "Moonshot" programme.

“I would like to refer to Mariana Mazzucato’s idea of “mission economy”, in which she referred to the United States’ “Moonshot” programme to put man on the moon. Along the way it triggered and created many innovations which were later commercialised.

Deputy Minister also callede a significance action to break down barriers between government entities, private sectors, and GLCs to drive innovation and solve societal problems.

“ For instance, how do we get the Ministry of Agriculture and Food Security to enlist Malaysian technology companies to provide machine tools and equipment needed to deal with irrigation problems?

“ Another example, I was formerly the deputy defence minister, and I was then concerned with a question: How do we develop a domestic defence industry based on technology, and not relationships?

“ And, how do we get the semiconductor industry in Malaysia to work with the automotive industry to develop chips which will then link the currently MNCs-driven semiconductor industry with some of the Malaysian parts manufacturers in the automotive industry?

“ The government at all levels, GLICS and GLCs, and the private sectors, should strive to innovate to solve societal problems. We need to break down the walls and silos within the government and with the private sectors.

The need to link capital markets with the manufacturing sector to mobilize capital for investments in technology-driven industries.

“The third change we would like to see is to link the capital markets to the manufacturingsector. Prime Minister Datuk Seri Anwar Ibrahim has instructed MITI, MIDA, Ministry of Finance, GLICs and GLCs, to look into mobilising capital to invest in the semiconductor industry.

“For the longest time, the main technology owners in the Malaysian manufacturing sector are the MNCs while the capital owners in Malaysia, including private businesses and GLICs/GLCs, due to investment returns, were more interested in property development and not interested in the manufacturing sector or in technology.

Prime Minister Datuk Seri Anwar Ibrahim's vision for Malaysia to have successful domestic technology companies and a thriving manufacturing sector.

“Prime Minister Anwar said at the launch of the National Semiconductor Strategy that the nation aspires to see 10 domestic technology companies that are currently at around RM 1 billionrevenue to become USD 1 billion in the foreseeable future, and to have another 100 Malaysian companies to reach RM 1 billion annual revenue.

“He is very ambitious and we would like to see our nation and industries to be equally ambitious.We need to work together to scale great heights.

“The Madani Government has a very determined agenda for industries: to grow exponentially, to tech up, to green up and to share the fruits of growth better, as outlined in the New Industrial Master Plan 2030.

He put on commitment to promoting technology-driven prosperity and growth over traditional investments like real estate.

“ This is changing. We want to see Malaysian firms becoming rich through technology, not through selling and buying of lands, natural resources or minerals.

“ Endeavor to align industry growth with the objectives outlined in the New Industrial Master Plan 2030, focusing on exponential growth, technological advancement, sustainability, and inclusive prosperity.

The seminar also featured informative breakout sessions on topics like industrial linkage programs, the impact of the East Coast Rail Link (ECRL) on regional development, and funding opportunities. These sessions aimed to equip attendees with knowledge and tools to propel Malaysia's economic growth.

ECRL Transforming Land Transport in Selangor

In a landmark initiative, the East Coast Rail Link (ECRL) is set to revolutionize land transportation in Selangor, Malaysia. This transformative project, spearheaded by Malaysia Rail Link Sdn Bhd, aims to enhance connectivity and foster economic growth across the region.

The ECRL's strategic design includes a mix of passenger stations, freight stations, and railport terminals, catering to diverse transportation needs. The ITT Gombak Station stands out as a key passenger hub, located near residential areas and the International Islamic University Malaysia, promising seamless travel for commuters. Similarly, the Bandar Serendah Station will serve as a critical interchange for both passengers and freight, equipped with facilities like the Perodua Facility and an automotive hub, positioning it as a vital transportation node in Selangor.

Puncak Alam Station, another pivotal point on the ECRL route, is set to become a major center for both passenger and freight services. Surrounded by industrial and residential zones, it has the potential to become a steel products distribution hub, boosting regional economic activities. Additionally, the Kapar and Jalan Kastam Stations, integrated into residential and industrial areas, underscore the ECRL's commitment to enhancing local connectivity.

An extension of the ECRL to Northport and Westports, featuring standard gauge tracks alongside existing KTMB meter gauge tracks, is anticipated to streamline transportation to and from these crucial ports, further stimulating trade and commerce.

The ECRL is also at the forefront of technological innovation, featuring electrification, high-speed operations, and modern rolling stock to ensure a reliable transportation experience for both passengers and freight. A recent Memorandum of Understanding (MOU) with Perodua & Kuantan Port Consortium suggests potential long-term collaborations, encouraging a shift from road to rail for cargo movement, thereby promoting sustainable and efficient transportation.

This ambitious project is expected to reshape Selangor's transportation landscape, ushering in a new era of connectivity and economic prosperity. The ECRL stands as a testament to Malaysia's commitment to advancing its land transport infrastructure, enhancing regional ties, and fostering mutual growth between Selangor and the East Coast.

Selangor Tourism Boosted by Visit Selangor Year 2025 Campaign and East Coast Rail Link

The Visit Selangor Year 2025 campaign, driven by Tourism Selangor Promosi Sdn Bhd, aims to attract 7 million tourists, increase tourism expenditure, and extend visitors' stays in the state. The integration of ECRL stations across Selangor is set to play a pivotal role in this initiative, enhancing accessibility to the state's rich cultural and natural attractions.

At Gombak ECRL station, visitors can explore Batu Caves and Zoo Negara, while Selayang Hot Spring Pool offers a spot for relaxation. Serendah station invites nature enthusiasts to Tasik Kebun Carpe Diem and Taman Rekreasi Perigi Tujuh, with adventure options at Taman Eko Rimba Kaching.

Puncak Alam station provides access to attractions like Serendah Waterfall and Ramadas Pottery, showcasing Selangor's cultural heritage. The convenience of ECRL stations encourages tourists to embark on a journey of discovery, exploring Selangor's diverse offerings and creating unforgettable memories.

The ECRL project is expected to drive economic growth, job creation, and sustainable tourism development in Selangor, solidifying the state's position as a premier tourist destination in Malaysia.

UMW Development Sdn Bhd's Role in Serendah's Growth

UMW Development Sdn Bhd has significantly contributed to the growth around Serendah, particularly through the UMW High Value Manufacturing (HVM) Park. This flagship development spans 861 acres, focusing on aerospace, automotive, and advanced manufacturing industries with a strong emphasis on sustainability.

The park's strategic location near key transportation hubs, including the ECRL's Inland Port Serendah Cargo Hub, enhances connectivity and logistics capabilities, providing significant advantages such as reduced transportation costs and improved access to domestic and international markets.

The UMW HVM Park features a multi-tiered security system, ready-to-go infrastructure, centralized labor quarters, and business support units. The park also boasts a central park, green transit-oriented development, and amenities such as food courts, walking and cycle tracks, and recreational facilities.

The Centralized Labour Quarters (CLQ) within the park, capable of accommodating over 6,000 individuals, complies with the Worker’s Standards of Housing and Amenities Act, providing essential amenities and fostering a convenient living environment for workers.

UMW Development Sdn Bhd's commitment to innovation and sustainability has earned it accolades such as the Malaysian Developer Award 2023 Rising Star Award and the StarProperty Award 2024 for Best Industrial Park and ESG-Conscious Development.

Overall, the ECRL project and UMW Development Sdn Bhd's initiatives are set to drive significant economic and industrial growth in Selangor, creating a sustainable and thriving ecosystem for high-value manufacturing and industrial activities.

MIDA's strategic partnerships with organizations like FMM underscore its dedication to supporting local enterprises, attracting domestic investment, and enhancing Malaysia's attractiveness to global investors.

This seminar marked a significant step towards fostering a more vibrant and resilient business environment in Malaysia, driving the country towards sustainable growth and innovation.