MIDA Backs University Firms Wanting To Invest In Industry
By Asmahanim Amir
Pix Abdul Raai Osman
BANGI, 5 May 2015 – The Malaysian Investment Development Authority (MIDA) is ready to assist companies under public universities which intend to invest in manufacturing and services sectors.
Deputy Director, Division of Technology and Frontier Business, Farez Amha Abdullah said the wide range of services provided by MIDA include providing information on the opportunities for investments as well as aiding companies looking for joint venture partners.
“To enhance our role in assisting investors, senior representatives from key government agencies are stationed at MIDA’s headquarters in Kuala Lumpur to advise investors on government policies and procedures,” he said at a talk titled Industry Forum: Technology and Business Frontier, here on April 30.
The forum was organised by the Centre for Collaborative Innovation (PIK), Faculty of Economics and Management (FEP) and the Centre for Research and Instrumentation UKM (CRIM).
Farez said investors are encouraged to discuss their proposals with MIDA officers before making an investment.
“We also have a research council. If any university has its own company (Sdn Bhd) and want to conduct research, you can come to MIDA and discuss it with us about the study.
“We will market the research by selling the idea to industry.
“Did you know why we promote a certain product? Because the public wants to know what is the product from a company investing with MIDA,” he explained.
He said the Division of Technology & Business Frontier will identify trends, new and emerging technology and businesses and develop the roadmap which includes new and emerging technology values of the selected industry and business sectors.
“We also will work with the related industry and services division to identify new and emerging sectors or companies developing technology suitable for the Malaysian industry and business environment,” he said.
He added, in helping foreign companies to invest, MIDA uses the ecosystem approach to provide insight into high-value activities and a better understanding of any particular group.
“We also identify opportunities to be promoted which can further strengthen the value chains of the industry cluster and together facilitate the process of decision making to identify the product,” he clarified.
Meanwhile, Deputy Vice Chancellor (Research and Innovation ), Prof Dato’ Dr Mazlin Mokhtar described the forum as a good platform for academics and researchers to find out whether their research activities and the expertise among UKM graduates is in line with market demands, at home or abroad.
“R&D (research and development) conducted by the university should be innovative and proactive in line with industry partners and market demands.
“To ensure that R&D carried out by the university is relevant to industry partners and markets, the inputs on much-needed industry trends should be updated,” he said.
He added that he hoped that this forum will be beneficial to all participants and stakeholders in the field of R&D and innovation.