KEYNOTE ADDRESS BY
YB SENATOR TENGKU DATUK SERI UTAMA ZAFRUL TENGKU ABDUL AZIZ
MINISTER OF INVESTMENT, TRADE AND INDUSTRY
9th SELANGOR ASEAN BUSINESS CONFERENCE (SABC) 2025
8TH OCTOBER 2025 (WEDNESDAY) | 1.00 PM KUALA LUMPUR CONVENTION CENTRE
Y.A.B. Dato’ Seri Amirudin bin Shari
Menteri Besar of Selangor
Y.B. Tuan Ng Sze Han
Selangor State Executive Councillor for Industry, Trade & Mobility
YBhg. Dato’ Hasan Azhari Hj. Idris
CEO, Invest Selangor Berhad
CEOs and Captains of Industries,
Your Excellencies,
Members of the Media,
Distinguished Guests,
Ladies and Gentlemen,
Assalamualaikum w.b.t, Good Morning and Salam Malaysia MADANI
OPENING REMARKS
1. It is a pleasure to speak once again at the Selangor ASEAN Business Conference. It’s truly encouraging to see how SABC has evolved into a significant regional platform, shaping the way ASEAN connects, collaborates and conquers goals together.
2. As one of the powerhouses anchoring our economy, Selangor’s strengths are Malaysia’s strengths – which also contribute to ASEAN’s collective prowess on the regional and global stage.
3. I also want to commend the Selangor MB for championing a bold and visionary roadmap for the state, starting with the First Selangor Plan (RS-1), followed by the upcoming Second Selangor Plan (RS-2). This policy clarity and commitment to proper execution form the bedrock of certainty that investors and businesses look for.
4. This year’s theme, “Selangor, the Gateway to a More Inclusive and Sustainable ASEAN”, mirrors the theme of Malaysia’s ASEAN Chairmanship: “Inclusivity and Sustainability”. To investors out there, you may take this as a clear conviction by the Federal Government and Selangor – that both factors are crucial to build competitiveness and resilience, particularly in navigating the global trading landscape that has been torn asunder by the US tariff storm.
5. I previously mentioned that on the US tariff negotiations, Malaysia came to the negotiating table from a position of strength. We were thorough, methodical and almost clinical in our approach. But even as we drew some relief from the reduction of tariffs on Malaysian exports (from 25% to 19%), MITI began speeding up our industrial reform agenda.
6. Today, I want to share three key points on how MITI is shaping Malaysia’s investment, trade and industrial landscape, and the importance of Selangor as one of our partners in marketing Malaysia to the world – for it is in that partnership that businesses will find growth opportunities.
MITI’S INDUSTRIAL POLICIES WILL TRUMP GLOBAL PITFALLS
Ladies and Gentlemen,
7. First, economic resilience isn’t built by chance—it’s shaped by deliberate industrial policies that nurture strategic sectors, empower local ecosystems, and future proof our supply chains.
8. Through policies such as NIMP2030, National Semiconductor Strategy (NSS) and the Green Investment Strategy (GIS), we have been investing in both the depth and breadth of our industrial ecosystem—to ensure we can weather shocks and lead with strength.
9. This was clearly borne out in Malaysia’s steady growth in the last two years (2024 – 5.1%; 1H2025 - 4.4%). While our full year 2025 growth forecast has been revised downwards to 4.0-4.8% due to tariff uncertainties, increasing investments prove that investors’ interest has not just been sustained but also strengthened.
10. MITI is glad to have done its policy homework since December 2022 to strengthen our industrial foundations. And I strongly believe that the more intense geopolitical tensions are, the faster we must act on rolling out reforms, strengthening our supply chains, and embracing sustainability.
11. On that note, Selangor – with its strategic ports, world-class airports, and vibrant industrial clusters – is a natural strategic partner in championing the change that our industrial policies are targeting.
12. And where is federal funding flowing to? In terms of our policy, it is going into promoted sectors like aerospace, CCUS, chemical, circular economy, digital economy, E&E and pharmaceutical. Selangor has been hosting these sectors for decades. So, the key takeaway for investors and business in this room is this: follow where the funding flows.
13. Second, Malaysia is clearing the path for our companies who are ready to go regional—and this year, this includes pushing for various economic deliverables that upgrade trade partnerships, forge new trading ties and increase intra ASEAN trade.
14. By expanding ASEAN’s market access (e.g., with the GCC) and strengthening regional supply chains, we’re not just growing intra-ASEAN exports; but also prepping the path for businesses to scale, adapt, and lead across borders. And Selangor fits in strategically within this Malaysia-ASEAN policy confluence.
15. There are also other key ASEAN deliverables in which Malaysia has developed an industrial advantage – like EVs and Semiconductors. Selangor has these advantages, too – making it a natural beneficiary of MITI’s target deliverables through our leadership of ASEAN this year.
16. Furthermore, with upgrades to the ASEAN Trade in Goods Agreement (ATIGA) and the rollout of the Digital Economy Framework Agreement (DEFA), ASEAN is fast becoming a dynamic, self-reinforcing economic bloc, and looks set to be the world’s fourth largest economy by 2030.
17. Third, MITI is also focusing on industrial talent, ESG and digitalisation initiatives – the pillars that make up a holistic approach to future-proofing Malaysia’s economy. Our investment in skills development is equipping the workforce for high-value sectors like aerospace, E&E, and advanced manufacturing. Selangor, with its deep talent pool, supported by top universities and technical institutes, is again a natural strategic partner to achieving this ambition – and a clear beneficiary of the same.
18. Through ESG initiatives, we’re embedding sustainability and ethical standards into supply chains—boosting investor confidence and global competitiveness. And with digitalisation, MITI is accelerating Industry 4.0 adoption, enabling SMEs and large firms alike to innovate, scale, and integrate seamlessly into regional and global value chains.
19. As the state advances ESG adoption, digitalisation, and green growth, Selangor is contributing to making Malaysia a future ready destination for sustainable investment. Practical advice to businesses and SMEs? Follow where the policy funding and investment flow.
SELANGOR STRENGTHENS MALAYSIA’S POSITIONING AS THE GATEWAY TO ASEAN
Ladies and Gentlemen,
20. Two weeks ago, MITI successfully hosted the 57th ASEAN Economic Ministers Meeting. In two weeks’ time, Malaysia will be hosting the 47th ASEAN Leaders Summit – and we will be welcoming the likes of Trump, Le Qiang and Modi to Kuala Lumpur.
21. This is more than a high-level visit. It is a geoeconomic milestone that underscores ASEAN’s growing authority as a middle-power convenor – and MITI is proud and deeply honoured to have played a central role in shaping and driving ASEAN’s economic agenda that enhances Malaysia’s authority as ASEAN Chair.
22. But our efforts mean nothing if they don’t reel in the results that we aim for. Numbers don’t lie, and for Selangor, they come in the form of ~RM35 billion of approved investments in 1H2025. In 2024 alone, Selangor topped the list at over RM101 billion, almost double the RM55 billion received in the year prior.
23. With strong policy execution that matches MITI’s, it is clear Selangor has the capacity to increase the ROI from its assets – and to continue being a major contributor (~26%) to Malaysia’s GDP.
24. Be it Port Klang and KLIA; its industrial parks or Puchong Semiconductor IC design Park; the recently launched Selangor Aero Park @ KLIA Aeropolis or Subang Aerospace Park – all these are but a small sampling of Selangor’s major assets that can help investors ride the growth trajectory of high value, innovation-driven industries.
25. In short, Selangor is more than Malaysia’s industrial heartland—it can be investors’ launchpad into ASEAN. With world-class infrastructure, deep supply chain capabilities, and a dynamic business ecosystem, Selangor is helping position Malaysia as a key export and investment gateway to the region.
CLOSING
Ladies and Gentlemen,
26. When we launched our industrial reform policies in 2023, we knew the world would be changing, and challenging. We just didn’t know how intensely, or how the US tariff storm would redefine supply chains to mirror geopolitical alignment.
27. I strongly believe that in a fractured world, success belongs to those who can pivot with purpose, and with promptness. Agility and adaptability aren’t just survival traits — they’re strategic assets that allow nations and businesses to navigate uncertainty, seize opportunity, and lead with resilience.
28. So, my final message to the investors out there is this: MITI, and the state of Selangor are offering you all these, and more, to provide you with the clarity, confidence and comfort to partner with us on this growth journey.
29. Last but certainly not least, my heartfelt thanks again to the Selangor State Government, under the able leadership of Y.A.B. Dato’ Seri Amirudin Shari, for their unwavering commitment to Malaysia’s vision and progress.
30. Thank you, and I wish all attendees of the 9th SABC a successful conference.
1. It is a pleasure to be here in Singapore for the second Johor Singapore Special Economic Zone (JS-SEZ) Joint Investment Forum. This is a timely opportunity to reconnect and renew our shared commitment to this transformative cross-border initiative.
2. Building on the success of our inaugural forum on 21 April 2025 in Johor, today’s gathering not only reflects continuity, but also signals growing momentum. It sends a clear message: Malaysia and Singapore are deeply committed to turning the JS-SEZ from vision to reality, one that delivers tangible, lasting value to our economies and beyond.
3. I’ve said it before, and I’ll say it again: the JS-SEZ is both timely and strategic. Under the current global geoeconomic pressures, it is both an opportunity and a necessity.
4. By aligning Johor’s industrial strength and resource potential with Singapore’s global connectivity and innovation ecosystem, we are not just strengthening our cross-border partnership, we are building a growth engine of resilience that is greater than the sum of its parts.
5. Indeed, the JS-SEZ is not just a bilateral initiative between two neighbours. It is a regional value proposition. It speaks directly to ASEAN’s aspirations for deeper market integration, shared prosperity, and sustainable development. It challenges us to reimagine borders, not as barriers but as bridges to opportunity.
6. In an increasingly complex global trading environment – made more complex by the reciprocal tariff issue – the JS-SEZ is one of the most compelling propositions for ASEAN to mitigate external shocks, diversify supply chains, and enhance intra regional connectivity.
7. By building a more integrated, agile, and investor-friendly zone, we are positioning the JS-SEZ as both a manufacturing and services hub for businesses to navigate geopolitical uncertainties, while maintaining their global competitiveness.
8. So, let us be bolder in our thinking, ambitious in our vision, and collaborative in our execution. The JS-SEZ must set a new benchmark not just in how we do business, but in how we design future-ready, people-centric, innovation-driven economic zones.
9. Malaysia, through the Ministry of Investment, Trade and Industry (MITI), together with MTI, are committed to ensure the JS-SEZ is shaped by clarity, efficiency, and above all, purpose.
10. But ultimately, the energy and success of the JS-SEZ lie with you – industry leaders, investors, government partners, ecosystem enablers. Your ideas, feedback, and investments will determine how far this vision can go.
SPECIAL ANNOUNCEMENTS
Excellencies, Distinguished Guests, Ladies and Gentlemen,
11. Just last week, at the Asia Future Summit, I did mention that there would be more good news for investments in this Special Economic Zone. And today, I am happy to share these fresh announcements, which we believe would bolster investor momentum for the JZ-SEZ.
Financing
12. First, on financing. To further support the development of the JS SEZ, I am pleased to announce that, under the platform of the New Industrial Master Plan 2030 (NIMP 2030), the Strategic Co Investment Fund (CoSIF) will be leveraged as a key financing instrument for industrial growth in the Zone.
13. Under Budget 2026, an additional RM200 million has been allocated to CoSIF. This funding enables co-investments in high impact projects by Malaysian SMEs in the JS-SEZ, particularly those that contribute to strengthening the cross-border industrial ecosystem between Johor and Singapore.
14. I am also happy to add that the CoSIF has a new matching/ risk sharing ratio and financing rate that we believe will attract greater private sector participation. This encourages better investment leverage in projects aligned with the NIMP’s industrial transformation goals.
15. CoSIF is also aimed at enabling SMEs to scale up and go global, particularly in areas such as capacity expansion, tech adoption, and sustainability. This financing effort will complement the policy and infrastructure incentives being introduced under the JS-SEZ, ensuring a more holistic enabling framework.
16. Additionally, I am also pleased to share that the Government of Malaysia is exploring efforts to enhance the Malaysia-Singapore Business Development Fund (MSBDF). While the Fund has supported valuable initiatives since its inception, we recognise the 5 need to repackage and position the MSBDF more strategically by aligning the Fund’s scope with the priorities of the JS-SEZ.
17. This will enable more SMEs – particularly those looking to expand regionally – to benefit from joint business development opportunities.
18. Our aim is to facilitate collaborations, joint ventures, and tech exchange between Malaysian and Singaporean enterprises, anchored within the Zone’s framework. We look forward to engaging with our Singapore counterparts to explore how this mechanism can be better leveraged moving forward.
Talent Development
19. Second, on talent. We recognise that the JS-SEZ needs a robust pipeline of a future-ready, high-skilled workforce. To this end, I am pleased to announce that under Budget 2026, the Malaysian Government has allocated RM650 million through the Skills Development Fund Corporation (PTPK) to support talent development for target sectors under the New Industrial Master Plan (NIMP 2030).
20. This initiative is expected to benefit roughly 25,000 trainees, particularly in sectors such as AI, EVs and semiconductors, all of which also support the Zone’s industrial ambitions. A portion of this funding could be channelled towards talent development initiatives for the JS-SEZ. MITI will soon start working closely with the Ministry of Human Resources (MOHR), the Johor Talent Development Council (JTDC) and other relevant agencies to tailor 6 programmes that match industry needs and prepare our talent for cross-border, innovation-driven opportunities.
Enhancing Investors’ Journey
(a) Investor Pass
21. Third, easing the investors’ journey. To further strengthen Malaysia’s value proposition as an investor-friendly destination including for the JS-SEZ, I am happy to share that under the Investor Pass initiative led by MIDA, eligible foreign investors can now enjoy a Multiple Entry Visa (MEV) valid for up to 12 months via the Xpats Gateway platform, launched in April this year.
22. This initiative is open to new, existing, and potential investors across all sectors. It is designed to facilitate investors’ travel and engagement, particularly during project planning or site visits. Additionally, MIDA can also proactively offer the Investor Pass directly to multinational companies and prospective investors in high-value sectors, including E&E, and those qualifying under the Family Office incentive approved by the Securities Commission of Malaysia.
23. This reflects our commitment to reducing friction for high-impact investors, including those looking to anchor strategic investments within the JS-SEZ.
(b) Fast Track Manufacturing License
24. Four, on fast-track manufacturing licence. To accelerate high impact investments in the JS-SEZ, I am pleased to announce that all manufacturing projects for non-sensitive industries within the Zone's identified economic sectors will be granted fast-track approval of the Manufacturing Licence (ML) within just seven (7) working days. In addition, the required ‘No Objection Letter’ (NOL) from the Johor State Government (for ML issuance), will also be issued within seven (7) working days.
25. Furthermore, such qualifying projects will automatically receive Johor Super Lane facilitation, ensuring coordinated priority handling across State and Federal agencies under a single facilitation channel. This mechanism underscores Malaysia’s shared commitment via Invest Malaysia Facilitation Centre-Johor to provide investors with certainty, speed, and seamless facilitation under the JS-SEZ framework.
Conclusion
Excellencies, Distinguished Guests, Ladies and Gentlemen,
26. The JS-SEZ is more than a new economic zone. It is a testament to strategic foresight and regional resilience in an increasingly uncertain global landscape. Its industrial diversity, from advanced manufacturing to the digital economy, from logistics to green growth, provides a strong buffer against volatility.
27. Its ability to attract major investments in AI, clean tech, and data infrastructure ensures that it is not reliant on any single sector, but built on a robust, broad-based industrial foundation. Together, these factors will not only boost local economies, but will also cement Malaysia and Singapore’s roles as strategic anchors in Southeast Asia’s economic future.
28. By combining Singapore’s global reach with Johor’s industrial muscle, and harmonizing regulations through shared governance, we make the JS-SEZ not just relevant to investors today, but resilient for their tomorrows.
29. Together, as we transform aspiration and into action, we also breathe life into an unprecedented vision of Malaysia-Singapore collaboration, to make us an unstoppable force within ASEAN.
30. Thank you, and I wish everyone a productive and impactful forum.
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