Negeri Sembilan continues to be one of the recipients of investments in the country despite the challenging global economic environment. As at June 2019, there were 901 manufacturing projects implemented in Negeri Sembilan, with total investments of RM37.2 billion. Majority of these investments were from the foreign source recording a total of RM25.3 billion or 68 percent while the rest were from domestic sources.
These projects, which have created over 100,000 job opportunities, were mainly in the electrical and electronics (E&E) products, textiles and textile products, and rubber products industries. For January until September 2019, Negeri Sembilan attracted a total of 33 additional manufacturing projects worth RM2.6 billion. Notable companies operating in Negeri Sembilan include Samsung, On Semiconductor, Coca-Cola, Ajinomoto, Daihatsu, Safran and Kibing.
“Malaysia offers sound economic fundamentals and capabilities in providing the right mix of ingredients as a profitable destination for new companies to grow in the region. Malaysian Investment Development Authority (MIDA) also believes there is much more room for expansion or diversification for existing companies in Malaysia to reinvest, particularly in new growth areas.
“The Government has been persistently undertaking efforts to promote and facilitate local companies, particularly for SMEs, to scale up and accelerate their adoption of smart manufacturing and Industry 4.0 technology through various incentives and facilities. For example, the Industry4WRD Intervention Fund, managed by MIDA, is a good financial support facility for Malaysian SMEs in the manufacturing and related services sectors to embrace Industry 4.0.
“The fund is provided on a matching basis (70:30), based on eligible expenditures, up to a maximum grant of RM500,000.00. Approved companies will receive upfront, a maximum of 30% of the matching amount,” said MIDA Deputy Chief Executive Officer, Arham Abdul Rahman at the Invest Series Briefing: Unfolding States’ Business Potential organised by MIDA.
