Ministry of Investment, Trade and Industry (MITI)

Overview of Malaysia's ministry responsible for investment, trade, industry, productivity, SMEs, halal industry, automotive, steel and strategic trade.

Ministry of Investment, Trade and Industry (MITI)

The Ministry of Investment, Trade and Industry (MITI), officially Kementerian Pelaburan, Perdagangan dan Industri, is a Malaysian federal ministry responsible for international trade, industry, investment, productivity, small and medium enterprises, development finance institutions, the halal industry, automotive, steel and strategic trade. For manufacturers, exporters and industrial property users, MITI is one of the central ministries shaping Malaysia's industrial policy and investment environment.

Ministry Overview

Role for Industrial and Investment Users

• MITI is responsible for investment, international trade and industrial matters at federal level.
• Its portfolio covers productivity, SMEs, development finance institutions, halal industry, automotive, steel and strategic trade.
• The ministry plans, formulates and implements policies on industrial development, international trade and investment.
• It encourages both foreign and domestic investment.
• It promotes exports of Malaysian manufacturing products and services through bilateral, multilateral and regional trade relations.
• It works to enhance national productivity and competitiveness in the manufacturing sector.

Federal Agencies Under MITI

• Malaysian Investment Development Authority (MIDA).
• Malaysia External Trade Development Corporation (MATRADE).
• Malaysia Productivity Corporation (MPC), including PEMUDAH.
• SME Corporation Malaysia (SME Corp).
• SME Bank.
• Malaysian Industrial Development Finance (MIDF).
• Malaysia Automotive Institute (MAI).
• Malaysia Steel Institute (MSI).

Key Legislation

• Industrial Co-ordination Act 1975.
• Promotion of Investments Act 1986.
• Malaysian Investment Development Authority (Incorporation) Act 1965.
• Malaysia Productivity Corporation (Incorporation) Act 1966.
• Malaysia External Trade Development Corporation Act 1992.
• Countervailing and Anti-Dumping Duties Act 1993.
• Small and Medium Industries Development Corporation Act 1995.
• Safeguards Act 2006.
• Strategic Trade Act 2010.

Background

• The Ministry of Commerce and Industry was established in April 1956.
• It was renamed the Ministry of Trade and Industry in February 1972.
• On 27 October 1990, it was separated into the Ministry of International Trade and Industry (MITI) and the Ministry of Domestic Trade and Consumer Affairs (KPDN).
• In November 2015, MITI relocated its headquarters to Menara MITI on Jalan Sultan Haji Ahmad Shah.
• On 12 April 2023, it was renamed the Ministry of Investment, Trade and Industry.

Vision, Mission and Objective

• Vision: To make Malaysia a preferred investment destination and among the most globally competitive trading nations.
• Mission: To promote Malaysia's global competitiveness in international trade by producing high value-added goods and services.
• Mission: To spur industrial development toward enhancing Malaysia's economic growth.
• Objective: To plan, legislate and implement international trade and industrial policies that support Malaysia's development.

Client's Charter Highlights

• Processes online applications for Iron and Steel Approved Permits and other Approved Permits within stated working-day targets.
• Processes applications for certificate of origin within 24 working hours upon receiving complete documentation.
• Processes applications for Bumiputera Special Shares within 21 working days from approval dates for share listing by the Securities Commission of Malaysia.
• Resolves MITI-related complaints within 15 working days from the date received.

Legal Framework

The Federal Constitution allows Parliament to make laws related to trade, commerce and industry. These include imports and exports, standards of quality for manufactured or exported goods, industries and regulation of industrial undertakings, factories, boilers and machinery, dangerous trades, and dangerous or inflammable substances.

Reference: Wikipedia, “Ministry of Investment, Trade and Industry (Malaysia)”.