Mar 30 – The Malaysian Investment Development Authority (MIDA)’s digital transformation initiative or better known as InvestMalaysia Portal, an online application submission portal, is now open to the public. “As Malaysia is adapting to this new normal, MIDA’s role is more crucial than ever to help businesses thrive and create a better future for our country. The launching of InvestMalaysia Portal will help us meet investors’ expectations through optimised process automation and seamless data capturing and analysis,” said Mohamed Azmin Ali, Senior Minister and Minister of International Trade and Industry (MITI).
“We can expect a more efficient evaluation, an automated approval process and easier information sharing at a single entry point. We will also get live investment updates, real- time visibility of investment projects, undertake more informed decision-making, and real- time reporting.”
Adopting the InvestMalaysia Portal will allow MIDA to make faster and more accurate analysis through automated dashboards and enable enhanced KPI monitoring in meeting the Client Charter.
Operational since 26 March 2021, the portal focuses to transform MIDA’s core business functions towards improved efficiency and productivity by embracing an integrated system to expedite the application and approval process and further allow companies to speed-up project implementation.
The digital platform currently offers 10 modules for online application submission and serves as a single entry point for stakeholders via Investmalaysia.mida.gov.my. Among the modules available include the enhanced Manufacturing Licence (e- ML), Exemption Letter from ML, Enhanced Incentive (e-Incentive), Expatriate Posts and Representative Office/Regional Office (RE/RO), Import Duty/Sales Tax Exemption (JPC) and MIDA Confirmation Letter (SPM) as well as Domestic Sales.
To continuously improve and ensure the systems perform at optimum levels, MIDA has set up a dedicated Customer Service Unit (CSU). The CSU comprises a verification team to receive applications and a specialised team with investment-related experience to answer enquiries related to applications, facilitation and project implementations. The establishment of CSU is expected to improve user confidence in the system and provide a better experience to companies, internal users as well as external agencies.
Through the implementation of an end-to-end automation application process, MIDA aims for shorter processing period and improved client charter commitment for investors in supporting industry’s current and future needs.
Source: Digital News Asia
MIDA’s InvestMalaysia Portal: https://investmalaysia.mida.gov.my/EIP/InvestMalaysia.aspx