Total Of 1,533 Furniture Projects Worth RM11.62 Bln Approved As Of March - Liew
KUALA LUMPUR, Aug 5 (Bernama) — A total of 1,533 furniture projects have been approved with an investment value amounting to RM11.62 billion as of March this year, according to the Malaysian Investment Development Authority (MIDA), said Deputy Minister of Investment, Trade and Industry, Liew Chin Tong.
He said that of this total, 62 per cent were from domestic investments, while the remaining 38 per cent were foreign investments.
“In addition, the Ministry of Investment, Trade and Industry (MITI), through the Malaysia External Trade Development Corporation (MATRADE), continues to offer the market development grant (MDG) to eligible Malaysian companies participating in any international trade promotion activities.
“For international trade promotion activities held overseas, MATRADE offers RM25,000, while for local international trade promotion activities, RM5,000 is offered,” he told the special chamber session in the Dewan Rakyat today.
He was responding to a question from Tan Hong Pin (PH–Bakri) regarding the development of a long-term plan for the furniture industry with realistic and flexible policies.
Liew revealed that to date, a total of 314 furniture companies have benefited from the MDG, with 4,148 MDG applications approved - the highest number among all industries. “A total of RM12.25 million in MDG grants has been disbursed to furniture industry companies, while the export value generated by companies in the furniture industry that have benefited from the MDG amounted to RM1.46 billion in export sales from January 2021 to 30 July 2025,” he added.
Meanwhile, the deputy minister said the government understands the industry’s concern that foreign companies have disrupted the local furniture market ecosystem.
“Although there are no restrictions on investing in the furniture sector in Malaysia, the government, through MIDA, plans to no longer encourage foreign investments - especially labour-intensive ones - into the national furniture sector.
“All MIDA offices abroad will be informed that the furniture sector no longer requires foreign investment as Malaysia's industry has already reached a leading position on the global stage,” he added.
— BERNAMA