| Malaysian Investment Development Authority | |
| Native Name: | Lembaga Pembangunan Pelaburan Malaysia |
| Native Name A: | (MIDA) |
| Preceding1: | Malaysian Industrial Development Authority |
| Jurisdiction: | Government of Malaysia |
| Headquarters: | MIDA Sentral, No.5, Jalan Stesen Sentral 5, Kuala Lumpur Sentral, 50470 Kuala Lumpur, Malaysia |
| Motto: | Invest In Malaysia > Your Profit Centre In Asia |
| Minister1 Name: | Tengku Zafrul Aziz |
| Minister1 Pfo: | Minister of International Trade and Industry |
| Deputyminister1 Name: | Liew Chin Tong |
| Deputyminister1 Pfo: | Deputy Minister of International Trade and Industry |
| Chief1 Name: | Tan Sri Dato' Seri Dr. Sulaiman Mahbob |
| Chief1 Position: | Chairman |
| Chief2 Name: | Datuk Wira Arham Abdul Rahman |
| Chief2 Position: | Chief Executive Officer |
| Parent Department: | Ministry of International Trade and Industry (MITI) |
| Keydocument1: | Malaysian Industrial Development Authority (Incorporation) Act 1965 |
The Malaysian Investment Development Authority (Malay: Lembaga Pembangunan Pelaburan Malaysia), abbreviated MIDA, previously known as Malaysian Industrial Development Authority is the government's principal agency to oversee and drive investment into the manufacturing and services sectors in Malaysia. Starting operations in 1967, MIDA was given the mandate to promote investments in the manufacturing and services sectors; and to advise the Ministry of International Trade and Industry (MITI) on industry matters including the formulation of related policies.
MIDA assists companies which intend to invest in the manufacturing and services sectors, as well as facilitates the implementation of their projects. The wide range of services provided by MIDA include providing information on the opportunities for investments, as well as facilitating companies which are looking for joint venture partners.
MIDA was established in and incorporated by the Malaysian Industrial Development Authority (Incorporation) Act 1965. The Act was first known as the Federal Industrial Development Authority (FIDA) Act 1965. It became fully operational in 1967, and began establishing overseas offices in 1972.[1] [2]
Functions of MIDA:
In addition to its Headquarters, MIDA provides the following contact points for investors not based in Kuala Lumpur, and overseas:
MIDA State Offices:
MIDA Overseas Offices:
Asia and Asia Pacific
America
Europe
Middle East
MIDA is able to offer various incentives to attract foreign investment, including incentives for specific companies. Regionally, there are two levels of incentives: one for Kuala Lumpur, Johor Bahru, and Penang, and another for the rest of the country. MIDA meets weekly on Thursdays to approve new investment applications, and proposed incentives; an official from the Finance Ministry sits in on the meetings to approve the proposed incentives on the spot. If the incentive cannot be approved immediately, it is passed to a higher official at the Ministry, who typically approves or rejects it within a week.[3]
MIDA has been criticised by one business periodical as being "preoccupied with internal bureaucratic concerns rather than the entrepreneur's needs" emphasising "rules and regulations, with less actual assistance to the entrepreneur." The same periodical claimed "the entrepreneur appears to have less of a role in the economy" in Malaysia.[4] However, the Foreign Investment Advisory Service of the World Bank has praised MIDA, saying it could be relied on "to provide practically all the approvals and clearances needed" and that "the involvement of MIDA on behalf of an investor effectively guaranteed approvals and permits to be forthcoming without difficulties".[5]