KUALA LUMPUR, Aug 22 — The Investment, Trade and Industry Ministry (MITI) is updating its investment incentive framework for the manufacturing sector, to ensure it is aligned with intended outcomes.
These outcomes include increasing economic complexity, creating high-value job opportunities and strengthening domestic linkages, said minister Tengku Datuk Seri Zafrul Abdul Aziz.
He said the ministry has also set key performance indicators (KPIs) for each outcome.
“I am sure some of you can already see how you would advise your clients on how best to meet those KPIs for them to qualify for better investment incentives,” he said in his speech at the Malaysian Institute of Certified Public Accountants’ annual dinner today.
Tengku Zafrul noted that the missions under the New Industrial Master Plan (NIMP) 2030, include enhancing economic complexity, advancing the net-zero agenda, embracing digitalisation as well as ensuring economic inclusivity and security in the economy.
All these, he said, require the expertise of financial professionals who can measure impact, assess risk and ensure accountability in driving Malaysia towards an advanced, sustainable and inclusive economy.
On the sub-policy of the NIMP 2030, namely, Green Investment Strategy, Tengku Zafrul said that since its launch in 2024, the Malaysian Investment Development Authority (MIDA) has been tagging approved investments accordingly.
“This is to ensure we can build capacity in targeted sectors such as renewable energy, green mobility, green hydrogen and carbon capture, utilisation and storage (CCUS). These are the ‘blue ocean’ sectors MITI is incentivising. Hence, I would encourage you to build your advisory expertise in these areas,” he said.
Tengku Zafrul stressed that as Malaysia navigates the new global trading order, accountants play a crucial role in sustaining market confidence.
He said be it through investments channelled directly into the manufacturing and services sectors or via capital markets, the accounting profession is instrumental in delivering outcomes for national economic policies.
“These days, investors want to know not just about profits, but also about planet- and people-friendly factors that build long-term resilience and sustainable supply chains.
“Accountants are the backbone of this trust, and this is vital in helping Malaysia attract and retain more investments,” Tengku Zafrul said.
