Invest Malaysia Facilitation Centre (IMFC) – Revolutionizing Malaysia’s Investment Landscape
By- Norazam Nordin
In a strategic move, the Ministry of Investment, Trade, and Industry (MITI) has given life to the Invest Malaysia Facilitation Centre (IMFC), poised to begin operations on December 1, 2023. This initiative stands as a proactive measure by the Malaysian Government to ease the business landscape, particularly streamlining the investor’s journey across various levels of Federal and State Governments.
Situated at the heart of the Malaysian Investment Development Authority’s (MIDA) headquarters, IMFC is set to become the singular focal point for all investment-related affairs. Its primary objective is to simplify business transactions within the community and extend support to investors, particularly those engaged in the manufacturing and selected service sectors.
More than just an addition to MIDA’s existing advisory services, IMFC’s physical presence is strategically aimed at expediting a range of approval processes. This encompasses not only consultation and advice but a deliberate effort to diminish bureaucratic intricacies inherent in public service delivery.
Reflecting on the significance of IMFC, Senator Tengku Datuk Seri Zafrul Aziz, the Minister of Investment, Trade, and Industry (MITI), remarked, “The establishment of the Invest Malaysia Facilitation Centre (IMFC) at the MIDA headquarters is testament to the government’s unwavering commitment to stimulate the country’s economic growth. This proactive step, spearheaded by MITI and MIDA, positions IMFC as a facilitation center poised to accelerate and coordinate various aspects of investment, offering significant added value to the business community and investors aiming to establish or expand their ventures in Malaysia.”
Echoing this sentiment, Datuk Wira Arham Abdul Rahman, Chief Executive Officer of MIDA, emphasized, “Innovation isn’t solely confined to product or technological advancements; it equally applies to service delivery. The Invest Malaysia Facilitation Centre (IMFC) emerges as the primary gateway for potential investors and the existing business community, providing comprehensive support and specific facilities from relevant federal and state government ministries and agencies. This facilitation center is not just a conduit; it’s a pivotal foundation set to expedite approval processes, offer consultation, advice, and significantly reduce bureaucratic hurdles in public service delivery. This initiative is poised to fortify Malaysia’s ties with both foreign and local investors, steering the nation towards a more robust growth trajectory in the manufacturing and service sectors.”