23-8-2023

President of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), YB Senator Tan Sri Dato’ Low Kian Chuan welcomes YAB Prime Minister Datuk Seri Anwar Ibrahim’s statement that the government has set Domestic Direct Investment (DDI) as a key performance indicator (KPI) for growing the country’s total investment given strategic DDI’s potential in attracting more foreign direct investment (FDI).

The chamber has long been championing the drive of stimulating higher DDI, especially SMEs to raise the country’s productive capacity and economic growth, accelerate the adoption of technology, create skilled employment opportunities and expand exports.

Malaysia needs the complementary effects and reinforcing catalysts of both Domestic Direct Investment (DDI) and Foreign Direct Investment (FDI) to drive industrial development in sustaining current and boosting future economic growth potential.

In line with our recommendation, the inclusion of DDI as a key performance indicator (KPI) is a positive step to facilitate and raise the quality of domestic investment. The Chamber is looking forward to the implementation of New Industrial Master Plan (NIMP) 2030 to facilitate DDI in the promoted sectors and industries.

DDI is important to deepen a dynamic domestic industrial base; develop an integrated supply chain and value chain, help to achieve high level of technology to manufacture high value-added products and services to meet both domestic and external demand.

An investment-friendly climate is paramount to attract new investment as well as retain existing investment. The Government has to bolster collaborations between the Federal government, state governments and local authorities to facilitate investment. We support the MITI efforts to streamline the 31 Investment Promotion Agencies (IPAs), with MIDA leading the way.