In line with the government’s dedication to positioning Malaysia as the preferred investment hub for both local and international investors and enterprises, Hong Leong Bank (HLB) has recently entered into a strategic partnership with the Malaysian Investment Development Authority (MID).

This collaboration aims to bolster the overall investment landscape and offer comprehensive financial and banking services to businesses venturing into the Malaysian market. The event, graced by Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry (MITI), underscored the government’s endorsement of this initiative.

Malaysia has greenlit investments totaling RM329.5 billion across diverse economic sectors for 2023. Buoyed by this influx of investments and a robust economic framework, the government aspires to enhance Malaysia’s global standing, solidifying its position as a premier investment destination by streamlining the investment process.

The agreement, officiated by Datuk Wira Arham Abdul Rahman, CEO of MIDA, and Kevin Lam, group managing director and CEO of Hong Leong Bank Berhad, signifies a commitment to nurturing a strategic partnership that fosters sustainable business growth and engagement across Malaysia’s SMEs and commercial sectors.

Tengku Zafrul said, “Partnerships are pivotal to development endeavors. Collaborations among governments, civil society, and the private sector are imperative for nation-building and regional cooperation. Through such alliances, we pave the way for Malaysia to shine as a preferred investment destination.

“The MIDA-Hong Leong MOU aligns with our roadmap toward a flourishing economy, offering opportunities for all and propelling us toward a future characterized by economic innovation and success through collaboration.”

Meanwhile, Arham stressed the necessity for increased collaboration between the government and the private sector to foster shared economic prosperity.

Continuously striving to position Malaysia as the ultimate investment destination, MIDA aims to leverage the nation’s strategic location, robust infrastructure, and dynamic workforce.

This entails enhancing support systems, economic frameworks, and technological infrastructure for investors, achievable through collaborations like the one with Hong Leong Bank. With HLB’s tailored financing solutions and advisory services, the goal is to bolster Malaysia’s investment environment, ensuring competitiveness within the region and beyond.

Kevin reiterated the bank’s commitment to supporting corporations’ regional expansion into Malaysia, thereby strengthening the country’s business and investment ecosystem. With Malaysia ranked as the best country in Asia for overall investment conditions according to the Milken Institute’s Global Opportunity Index (GOI) 2024 report, HLB aims to capitalise on this recognition by offering customized financing solutions and market insights to facilitate growth opportunities and international partnerships.

HLB has a successful track record of facilitating cross-border business expansion, exemplified by collaborations like that between Hong Leong Bank Cambodia and the SME Association of Malaysia, fostering business networking and knowledge exchange between SMEs in Malaysia and Cambodia.

Additionally, HLB remains dedicated to supporting SMEs, recognising them as a key growth segment. Notably, the partnership with the Malaysia Motorcycle & Scooter Dealers Association has provided substantial financing support for dealers.

The collaboration between HLB and MIDA, formalised through an MOU, signifies a mutually beneficial strategic alliance aimed at continuous engagement and business development.

Concurrently, MIDA launched their coffee table book, “Stepping Stones: MIDA’s Journey,” celebrating past achievements and resilience while symbolizing Malaysia’s future as a competitive investment destination. Through unity and strategic partnerships, Malaysia envisions a future marked by boundless growth, development, and prosperity.

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