KUALA LUMPUR, Jan. 30 (Xinhua) -- The Malaysian government will implement the New Incentive Framework (NIF) commencing with the manufacturing sector and followed by the services sector, according to the Ministry of Investment, Trade and Industry.
The ministry said in a statement on Thursday that the implementation of this new framework represents a significant strategic policy shift in Malaysia's investment incentive landscape, aimed at ensuring the country remains competitive, sustainable, and resilient in the face of global economic challenges.
The NIF, effective from March 1, is designed to strengthen Malaysia's economic resilience by linking the incentives to the achievement of specific measurable outcomes aligned with the nation's strategic priorities.
The framework adopts a tiered and outcome-based approach that is consistent with the country's broader economic and industrial policy aspirations. ■