Kuala lumpur: The Malaysian Investment Development Authority (MIDA) is anticipating a surge in quality-driven investments that are expected to bring significant benefits to the Malaysian economy through the New Incentive Framework (NIF). Chairman Tengku Datuk Seri Zafrul Abdul Aziz highlighted the framework's focus on attracting investors who can introduce appropriate technologies, create high-quality jobs, and provide substantial returns to the economy in exchange for enhanced incentives.

According to BERNAMA News Agency, Tengku Zafrul acknowledged potential concerns from investors regarding the selective nature of the incentives but emphasized the need to prioritize resources effectively. He stated that rewarding investors who contribute positively to the economy is a priority. Tengku Zafrul also mentioned that the policy, which was announced weeks ago, has already received positive feedback from investors, particularly those aligned with its goals.

Tengku Zafrul expressed optimism about increasing interest and participation from companies applying under the NIF. He noted that the framework had been in preparation for over a year, incorporating input from businesses, and as such, a slowdown in applications is not anticipated.

Additionally, Tengku Zafrul identified the digital economy as a crucial factor in meeting Malaysia's quality investment objectives by 2026. He pointed out that the development of data centers is integral to the digital economy's ecosystem, with an increasing number of companies engaging in both service and equipment sectors. He remarked on the growing necessity for computing power, which is expected to drive the digital economy forward.