Kuala lumpur: The Ministry of Investment, Trade and Industry (MITI) is dedicated to ensuring that every joint venture (JV) project with foreign companies significantly contributes to the development of the local workforce’s capacity and competencies. This commitment aims to maximize economic benefits and position JVs with foreign firms as catalysts for sustainable, high-impact national industrial development.

According to BERNAMA News Agency, MITI emphasized that JV projects with foreign companies should provide genuine added value to the country. This involves building the local workforce’s capacity and skills and engaging in high-value activities such as engineering, research and development (R and D), and advanced manufacturing technologies. The ministry aims to move beyond the confines of assembly or operational tasks.

MITI’s response was prompted by an inquiry from Datuk Mohd Shahar Abdullah (BN-Paya Besar) regarding the measures in place to ensure that joint venture projects with foreign firms can maximize the local workforce’s development during the construction and technology-transfer phases. The ministry highlighted several initiatives implemented through the Malaysian Investment Development Authority (MIDA), including setting specific investment conditions for projects approved for tax incentives and strengthening the supply chain ecosystem among local, multinational, and large domestic firms.

MIDA has also launched the i-Services Portal to connect service providers with investors, including foreign ones, and operates the Domestic Investment Coordination Platform (DICP) to support the growth of local small and medium enterprises (SMEs). Additionally, MIDA introduced the New Investment Incentive Framework (NIIF) under the 2025 Budget, which will be rolled out for the manufacturing sector in the first quarter of 2026 and for the services sector in the second quarter of 2026.