KUALA LUMPUR- In line with the Government’s commitment to further cement the country’s position as a preferred destination for FDIs, the Government has decided to establish a One-Stop-Centre (OSC) at the Malaysian Investment Development Authority (MIDA) on 8 October 2020. The OSC will evaluate and approve applications by eligible business travellers to enter Malaysia for trade and investment purposes.
These travellers will be required to offer evidence of compliance to the strict SOPs and other necessary conditions such as quarantine measures, which are presently in place.
Although the main purpose of the OSC is to facilitate genuine business travellers, this will only be undertaken while primarily upholding, protecting and preserving the health and safety of the Malaysian people.
The OSC commenced its operations on 2 October 2020. It is managed by MIDA with representatives from the Immigration Department, Ministry of Health and Ministry of International Trade and Industry (MITI) to ensure the legitimacy and health status of business travellers prior to their entry into Malaysia.
This Centre will assume a critical role in ensuring that Malaysia remains steady on the path of economic recovery and growth, by enabling executive and essential personnel to travel to, and continue their work in, Malaysia.
In early May 2020, the Government began to reopen the economic sectors in phases, which was supported by strict vigilance implemented through a set of standard operating procedures (SOPs).
This clearly demonstrates the Government’s resolute determination in striking a balance between protecting lives and safeguarding the livelihoods of the Malaysian people, many of whom rely upon the private sector for their jobs and wages.
The reopening of economic activities was a crucial, timely and necessary intervention by the Government, which has led to gradual recovery of our country’s economic sectors.
This phase also contributed towards the investments coming into Malaysia. For the period of January to June 2020, Malaysia recorded total approved investments of RM64.8 billion in the manufacturing, services and primary sectors. Of these, foreign direct investments (FDI) made up RM19.5 billion or 30.2 per cent.
Malaysia assumes an integral role in the global supply chain. The international business and investor community have always looked to Malaysia as a preferred destination for their operations, due to the stable, predictable and rules-based investment climate that Malaysia has to offer.
Companies operating in Malaysia continue to enjoy a significant level of prominence and a leading edge, along the regional and global value chains. Despite the COVID-19 pandemic, MIDA has intensified efforts to ensure that Malaysia remains a primary destination of choice for foreign investors.
MIDA is also committed to ensure that appropriate measures are in place to ensure that the business environment in the country is agile and responsive to the present and future needs of the private sector, particularly in adapting to the new normal.
Since commencing operations on 2 October 2020, the OSC has received 221 applications from business travellers, out of which 207 has been approved.