50 projects get RM323m DISF grants
GEORGE TOWN: The Malaysian Investment Development
Authority (MIDA) has approved RM323 million grants under the Domestic Investment Strategic Fund (DISF) for 50 projects with investments of over RM2.1 billion.
MIDA deputy chief executive officer II, Datuk Phang Ah Tong, said the RM1 billion fund, which was announced by Prime Minister Datuk Seri Najib Razak last year, was to help companies obtain certification in strategic industries and enhance themselves to become high value-added as well as innovation-based.
"I would like to urge the companies to improve their competitiveness and capabilities by moving up the supply value chain to become global players," he told a media briefing here today.
Phang said this after officiating the Seminar and Business Networking Session Programme for Outsourcing Opportunities in the Medial Devices and Machinery & Equipment Industries.
He said the transformation of the companies into global players would further boost domestic investment contributions to the Malaysian economy.
Phang said the companies should also explore opportunities in the medical devices sector due to the increase in demand for healthcare products and services.
"The market is expected to grow by 15.9 per cent per year to reach US$2.8 billion by 2017," he said.
He said the grants were given to electrical and electronics sector (14 projects), services (five), transport (four), life sciences (five), machinery and advanced engineering (14), research and development (five), information and communication technology (two) and wood-based (one).
The one-day event attracted 250 participants and 20 companies. A total of nine papers were presented.-- Bernama