Standard Chartered, MIDA to recharge Malaysia’s economy

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Standard Chartered Malaysia has signed a Memorandum of Understanding (MoU) with the Malaysian Investment Development Authority (MIDA) to attract targeted global investments into Malaysia.

These sectors include high-value, high-technology and high-impact investments such as electrical and electronics, machinery and equipment, medical devices, aerospace, renewable energy and consumer technology.

The MoU, through Standard Chartered Malaysia’s local expertise and global reach, enables potential foreign investors to gain access to banking services and foreign direct investment advisory.

Chief Executive Officer of MIDA, Datuk Azman Mahmud said the sectors’ ability in attracting quality investment augurs well for the country’s economy as the market looks to get back in shape post the Covid-19 pandemic.

“Public and private sector collaborations are more important now than ever to achieve our objectives and bring ourselves forward in this new normal. Despite the multiple challenges faced, Malaysia remains resilient.

“Our diversified economic structure and the sound track record of macroeconomic management continues to be conducive in supporting the country’s economic fundamentals going forward.

“The sustainable and progressive development of industries in Malaysia has also strengthened the nation’s position as the best place to invest. MIDA looks forward to a successful collaboration with Standard Chartered to attract more companies to choose Malaysia and expand their business here,” he said in a statement.

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