All Business Travellers to Malaysia Must Go Through the One-Stop Centre by MIDA
Globally, most nations are reopening their economic activities despite the pandemic infection rate. All countries must keep going while working hard to keep their people safe. Malaysia, for instance, is highly committed to attracting foreign investments even in the height of Covid-19. That said, what matters most is the safety of Malaysians at large. Hence, the Malaysian government is establishing a one-stop centre for business travellers to Malaysia.
Reopening Economic Activities
Malaysia had to face the fury of Covid-19 in the first quarter of 2020. After assessing the livelihood and economic situation, the government decides to open the economic sectors by phases with strict SOPs in place. It shows that the Malaysian government is concerned with protecting lives and conserving sustenance of Malaysians that rely on the private sector for their jobs and salary. The government’s decision to reopen economic activities in early May 2020 is timely and necessary. It is during the reopening phase that Malaysia begins to secure investments in the manufacturing, services and primary sectors. Up to 30 per cent of the investments were made up of foreign direct investments (FDI).
On the global outlook, Malaysia is regularly looked upon as the preferred destinations for international business operations. Their preference is due to the stable, predictable and regulation based investment climate that Malaysia practices. Thus, with such choice, Malaysia embraces its role in the global supply chain. Many international companies operating in Malaysia are enjoying the level of popularity alongside regional and global value chains.
For Trade and Investment
The one-stop centre for business travellers to Malaysia is set up at the Malaysian Investment Development Authority (MIDA). Overseas business travellers desiring to trade and invest in Malaysia will have to go through the centre first. From then onwards, the centre will evaluate and approve applications. Only genuine traders and investors will be allowed into Malaysia as they need to provide proof of compliance to Malaysia’s strict SOPs. Besides the SOPs, business travellers must also adhere to other necessary conditions such as quarantine measures. As much as the foreign direct investment is essential in driving the economic growth, the centre has its mind on upholding, protecting and preserving Malaysians safety and health. MIDA manages the centre 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 before they can enter Malaysia.
Responsive Business Environment
Every country would have its secret recipe to ensure the business environment remains responsive. As for Malaysia, the one-stop centre for business travellers to Malaysia seems the ideal formula for now. Despite the pandemic, MIDA is reinforcing efforts to make Malaysia the choice investment destination to international business and investors. With essential measures in place, the country’s business environment is poised to be agile and responsive, especially when it has to adapt to the new normal. Ever since beginning its operations, the centre has approved 207 applications from business travellers.