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MALAYSIAN INVESTMENT DEVELOPMENT AUTHORITY (MIDA)

CORPORATE MILESTONES

1963 Federal Industrial Development Authority (FIDA) was conceived

The Federal Industrial Development Authority (FIDA) was conceived as a result


of a World Bank mission to Malaysia that recommended to the Malaysian
Government the setting up of an investment promotion agency to advise the
Ministry of Trade and Industry on industrial matters and policies.

1965 FIDA is incorporated via FIDA Act 1965

It was then that FIDA assumed a role to shape the Malaysian economy.

1967 FIDA Commences Operations

FIDA commenced operations at Bangunan Koperasi Polis before moving into


Bangunan Bank Bumiputera.

1968 FIDA Extends Operations

FIDA extended their operations to three floors at Bangunan Hwa Li, additional to
the offices at Bangunan Bank Bumiputera.

1972 FIDA Ventures Out

First overseas office was set up in New York and the first state office was opened
in Kota Kinabalu.

1978 One-Stop Agency

FIDA introduces the One-Stop Agency concept. Investors can get advice on
federal-level approvals for starting a manufacturing project in Malaysia.
Representatives from the Finance Ministry, Trade Industry Ministry, Labour and
Manpower Ministry, the Royal Customs and Excise Department and the
Immigration Department are stationed at MIDA.

1979 Name Changed of Malaysian Industrial Development Authority

FIDA’s name was changed to Malaysian Industrial Development Authority (MIDA)


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to reflect the Malaysian identity.

1986 The First Industrial Master Plan (1986 – 1995)

The First Industrial Master Plan was launched to provide a framework for the
further development of the manufacturing sector for the period 1986 to 1995. The
Plan recommended the continuance of an export-led strategy and placed
emphasis on the promotion of the resource-based industries.

1988 MIDA as the Centre of Investment

MIDA assumes the role as Centre on Investment, where it handles major federal
approvals pertaining to the manufacturing sector.

1996 The Second Industrial Master Plan (1996 – 2005)

The Second Industrial Master Plan (IMP 2) was launched to chart the next phase
of Malaysia’s industrial development from 1996 – 2005.

The focus of the Plan was to chart in the policies and strategies to transform the
manufacturing sector into a resilient, broad-based and international competitive
sector.

2002 MIDA Moves to Plaza Sentral

MIDA shifts its office from Wisma Damansara to Plaza Sentral in KL Sentral.

2003 MIDA Launches its Business Information Centre

MIDA launches its Business Information Centre (BIC) to provide investors with
information on Malaysia’s industrial sector and investment procedures.

2004 Mandate Extends to the Services Sector

MIDA extends its operational mandate to include the promotion of the services
sector.

2006 The Third Industrial Master Plan (2006 – 2020)

The Third Industrial Master Plan was launched, which covers the period from

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2006 to 2020.

The Plan outlines strategies and policies to sustain the momentum of growth in
the manufacturing sector by at least 5.6 per cent per annum. The services sector
is expected to register an annual growth rate of 7.5 per cent during the IMP3
period. The services activities targeted for promotion are business and
professional services, integrated logistics services, ICT services, distributive
trade, construction services, education and training, health services and tourism
services.

2010 MIDA Empowered

Prime Minister Najib Tun Razak announced MIDA’s empowerment.

2011 MIDA Act 1965 Amended

Certain provisions of the Malaysian Industrial Development Authority


(Incorporation) Act 1965 were amended to give MIDA wider powers and greater
responsibilities.

2012 MIDA Moves into MIDA Sentral

MIDA moves to its own building at MIDA Sentral.

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