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Prime Minister Datuk Seri Najib Tun Razak in early July 2012, announced the establishment of a RM1 billion Domestic Investment Strategic Fund.

Domestic Investment Strategic Fund is intended to accelerate the participation of Malaysian-owned companies in the global supply chain especially in high-value added, high technology, knowledge-intensive and innovation-based industries.

The fund is managed by the Malaysian Investment Development Authority (MIDA).

The package of assistance will be granted under the Customised Incentive Scheme, based on the request of the companies and the merits of each case.

The fund will function to harness and leverage on outsourcing opportunities created by multinational corporations operating in Malaysia; intensify technology acquisition by Malaysia-owned companies and enable these companies to secure international standards/certifications in strategic industries.

The Fund does not offer an outright grant and is contingent on the investments of the applicant.

The Domestic Investment Strategic Fund will provide matching grants for training and R&D activities; undertaking of outsourcing activities; to comply with international standards; and for licensing/purchase of technology.

Company that are eligible to apply for the fund must incorporated under the Companies Act, 1965 and new companies in the manufacturing and services sectors with Malaysian equity ownership of at least 60% while existing companies in the manufacturing and services sectors with Malaysian equity ownership of at least 60% undertaking reinvestments (expansion/modernisation/diversification) are also eligible to apply.

Companies that producing promoted products/engaged in promoted activities in Aerospace; Medical Devices; Pharmaceuticals; Advanced Electronics; Machinery and Equipment; Renewable Energy; Services including design, R&D, testing, quality and standard certification, engineering services, technical and skills training and logistics service providers (3PL) are encourage to apply.

Source : MIDA and BERNAMA

-SNASH-

(this article written for 1BINA.my)