Malaysia’s Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz rolled out a new plan to speed up the launch of manufacturing projects. The move gives companies a “fast‑track” licence route that cuts through paperwork and lets them get started quicker.
The plan also opens a larger pool of funds that the government will co‑invest in projects. Small and medium‑sized enterprises (SMEs) can now tap this bigger kitty, which should boost local business growth and create new jobs.
Zafrul said the initiative will help Malaysia stay competitive in global supply chains. “Fast‑track licences will reduce delays for manufacturers, and a larger co‑investment fund means SMEs no longer have to rely solely on private capital,” he added.
The announcement comes as Malaysia eyes an expansion of its manufacturing sector. With easier licences and more government backing, the hope is that more SMEs will set up shop, hire locally, and grow their exports. The plan is expected to take effect in the next few months, giving local businesses plenty of time to apply.
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