Malaysian Investment Development Authority facts for kids

Quick facts for kids
Malaysian Investment Development Authority

Logo of the MIDA
Agency overview
Formed	January 1, 1967 (1967-01-01)
Headquarters	Malaysia

The Malaysian Investment Development Authority (MIDA) is a special government agency in Malaysia. It helps improve the country's factories and service industries. MIDA works under a law called the Malaysia Industrial Development Authority Act.

This agency helps companies that want to invest in Malaysia's industries and services. It also makes it easier for them to start their projects. MIDA offers many services. These include sharing information about new investment chances. They also help companies find partners to work with.

What MIDA Does

MIDA has several important jobs to help Malaysia's economy grow:

• It encourages both foreign and local companies to invest. These investments go into manufacturing (making things) and services (like tourism or tech).
• MIDA helps plan how industries in Malaysia will grow and develop.
• It suggests new ideas and plans to the Minister of International Trade and Industry. These ideas are about how to promote and develop industries.
• MIDA checks applications for different things. This includes licenses for factories and jobs for people from other countries. They also look at tax breaks for factories, tourism, and research.
• They issue official letters. These letters confirm that companies can get tax exemptions. This applies to machines, equipment, spare parts, and materials they use.
• MIDA helps companies start and run their projects. They offer advice and work with other government groups.
• They help share information and coordinate between different organizations. These organizations are all working on industrial development.
• MIDA also deals with international agreements related to investment.