ISTANBUL, TÜRKIYE, October 3 – MIDA’s newest office in Istanbul is set to provide Malaysia and Türkiye new economic opportunities and drive the steady growth of Malaysia-Turkiye’s bilateral trade relations. MIDA Istanbul will serve as a gateway for aspiring Turkish investors who wishes to expand their businesses in Malaysia and vice-versa. Investors will be able to gain access to the latest information on investment policies and opportunities, joint venture partnerships or technological collaborations.

Many business opportunities await Turkish investors, particularly in the fields of machinery and equipment, aerospace, ICT, digital investment, food manufacturing including the halal segment. Over the years, many factory have enable Malaysia to attract quality investments, which include, its unmatched connectivity and business friendly policies. Furthermore, as Malaysia is centrally located within Southeast Asia, the country serves as the prime gateway for Turkish investors to penetrate the ASEAN market.

Similarly, Türkiye is also strategically located at the crossroads of Europe, Central Asia, Middle East and North Africa. Malaysian companies could consider using Türkiye as a base to tap into the large European market as well as the emerging markets of Central Asia and the Middle East. Hence, the opening of MIDA’s office in Istanbul is most timely in order to fully exploit the potential upside for enhanced Turkish investments in manufacturing and services, particularly in the areas of advanced manufacturing, machinery and equipment, aerospace, digital investment, ICT and food manufacturing including the Halal segment.

This is in tandem with our National Investment Aspirations (NIA). I would like to underscore that our growth policy also prioritises the imperative of ensuring that SMEs ride on the value and supply chain. These initiatives will also empower companies and businesses to automate their processes, and be cost-efficient in meeting industry demands while mitigating social and environmental impacts. added the Honourable Dato‘ Seri Mohamed Azmin. In terms of Türkiye’s investments in Malaysia, as of June 2022, a total of 14 manufacturing projects were approved with total investments worth RM525.2 million (USD156.3 million).

Among sectors of the approved manufacturing projects include scientific and measuring equipment, textiles and textiles products, chemical and chemical products, food manufacturing; and electrical and electronics products. Four manufacturing projects with Turkish investments worth RM377.93 million (USD111.6 million) have been implemented in Malaysia.