GEORGE TOWN, May 6 — The setting up of an Invest Malaysia Facilitation Centre (IMFC) in Penang will be a gamechanger that will enable faster reinvestment decisions and expansion plans, according to the Federation of Malaysian Manufacturers (FMM) Penang.
FMM Penang chairman Datuk Seri Lee Teong Li said the recent announcement by the prime minister that an IMFC will be established in Penang is a highly welcomed move.
“This is a timely and strategic move in the right direction, especially given Penang’s key role as a hub for high-value manufacturing and global supply chains,” he said when contacted by Malay Mail.
He said the IMFC will significantly ease business processes for both existing and new investors such as streamlining approvals, improving coordination among government agencies and reducing bureaucratic red-tape.
“For many multinational corporations (MNCs) already operating in Penang, this could be a game-changer, enabling faster reinvestment decisions and expansion plans, especially in high-technology sectors,” he said.
He said the IMFC could also help address long-standing challenges such as talent development, infrastructure needs, and regulatory clarity.
“If executed well, it will reinforce investor confidence and sustain Penang’s competitiveness in attracting quality investments,” he said.
Lee said FMM Penang is ready to work closely with the government and all relevant stakeholders in ensuring that the IMFC meets industry needs and delivers impactful results.
Recently, Prime Minister Datuk Seri Anwar Ibrahim announced that Putrajaya will be establishing IMFC in Sarawak and Penang.
The IMFC was first established in 2023 to enhance the existing advisory service centre at the Malaysian Investment Development Authority (Mida).
Its primary objective was to expedite the process of various approvals.
A second IMFC was established in Johor in February this year at Forest City in line with the establishment of the Johor-Singapore Special Economic Zone.
