'This is where global starts': MITI's 4 strategic pillars to guide Malaysia through its second economic take-off

With this renewed focus, the ministry said it is aiming to position Malaysia as the driving force of Asia's new economy, and to be the leading trade and investment hub for top businesses worldwide.

Malaysia's Ministry of Investment, Trade & Industry (MITI) has recently unveiled its renewed focus to attract high-quality investments, create high value jobs, increase exports, expand markets; and drive industrial transformation.

This focus, derived from various challenges such as rapid tech advancements; risk against supply chain resiliency; intense competition for investments and strategic resources; climate change risks, adaptation and just transition, as well as the widening wealth gaps, resulted in MITI's new 'This is where global starts' initiative and tagline.

MITI said this new tagline will be the mantra for the ministry and its agencies towards a single vision and mission:

• Vision: For Malaysia to be the driving force of Asia's new economy, and to be the leading trade and investment hub for the world's best and brightest businesses. 
• Mission: To create enduring value by improving the nation's economic complexity, enriching the lives of our people, enhancing sustainability efforts and providing the most conducive environment for investment, trade and talents to thrive. 

The tagline will guide all policy implementation and strategic narratives through four main strategic pillars – Economy, innovation, sustainability, and people.

Economy

MITI aims to identify investment, trade, and industrial growth prospects worldwide, creating an environment that fosters international businesses' success in Southeast Asia whilst supporting the home-grown companies to grow regionally or globally. 

Innovation

MITI aims to encourage and foster innovative industrial technologies and businesses to Malaysia, simultaneously connecting innovative Malaysian companies to larger scale global partnerships and markets. 

Sustainability

MITI aims to support Malaysian industries and small and medium-sized enterprises (SMEs) in adopting ESG practices, which will help build a safer, fairer, and more environmentally sustainable industrial environment.

People
MITI aims to enhance the skills and training of Malaysians for industries serving global markets, beginning locally. By prioritising talent development, the ministry believes that Malaysia will be able to attract international businesses, bolstered by a strong workforce to support manufacturers of various sizes and capacities. 

Minister of Investment, Trade and Industry YB Senator Tengku Datuk Seri Utama Zafrul Aziz commented: "Malaysia has what it takes to become the leading industrial, trade and investment destination in Southeast Asia and globally, and is ready to emerge as the economic hub of the region.

"As one of the most vibrant economies in the world, now is the time to strategically play to our core strengths - such as strong governance, the rule of law, solid project execution track record and a diverse talent pool - and to inform global companies that Malaysia is open for business and is the place to be for their future growth." 

READ MORE: Number of unemployed persons in Malaysia decreased in February 2024

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