MIDA Welcomes Tengku Zafrul's Appointment As Chairman
KUALA LUMPUR, Dec 3 (Bernama) -- The Malaysian Investment Development Authority (MIDA) has welcomed the appointment of Tengku Datuk Seri Zafrul Abdul Aziz as its new chairman with immediate effect.
In a statement today, the agency described the appointment as a strategic move to strengthen Malaysia's investment promotion and development capabilities during a period of heightened global economic competition.
MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said that under Tengku Zafrul's stewardship at the Ministry of Investment, Trade and Industry (MITI), Malaysia achieved record investment approvals and significantly improved project implementation rates.
“His appointment as MIDA chairman ensures continuity in our strategic direction while bringing fresh impetus to our operational priorities. We are confident that his leadership will further enhance Malaysia's standing as a premier investment hub,” he said.
During his tenure as Minister of Investment, Trade and Industry, Tengku Zafrul delivered a historic investment performance for Malaysia as the country secured RM329.5 billion in approved investments in 2023, followed by a record-breaking RM378.5 billion in 2024 -- the highest in the nation's history.
MIDA said this momentum continued into 2025, with Malaysia attracting RM285.2 billion in approved investments in the first nine months alone, marking a 13.2 per cent year-on-year increase despite global economic headwinds.
Tengku Zafrul spearheaded the New Industrial Master Plan 2030 and championed the National Semiconductor Strategy, the Green Investment Strategy, the Chemical Industry Roadmap, the ESG Industry Framework and the Circular Economy Policy Framework.
He positioned Malaysia strategically within ASEAN economic integration frameworks, MIDA said.
MIDA, established in 1967, remains Malaysia's principal investment promotion agency, facilitating investments across manufacturing and services sectors.
“Under Tengku Zafrul's chairmanship, the authority will continue its mandate to position Malaysia as a competitive, sustainable, and strategically located investment destination for global investors,” MIDA said.
-- BERNAMA