MIDA wants more companies to set up R&D centres

October 4, 2017

MIDA-wants-more-companiesThe Malaysian Investment Development Authority (MIDA) is urging Malaysian companies to set up research and development (R&D) centres to produce high-value products, which in turn would lead to high-value investments.

Chief Executive Officer, Datuk Azman Mahmud said, the centres would enable companies to create new chemicals which would help produce high-value products, attract more jobs and increase in capital as well as external investments.

“However, there are not many Malaysian companies which are willing to invest in R&D, which is in line with the government’s policy, initiatives and direction,” Azman said.

Azman said this to reporters after the opening of KLK Oleo Sdn Bhd’s R&D Centre and 4th Phase Reactor Specialty Ester Plant by International Trade and Industry Minister II Datuk Seri Ong Ka Chuan here today.

Kuala Lumpur-Kepong Bhd (KLK) is exemplary of a local palm oil company going downstream into high-value oleo-chemicals, he said.

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