Govt ramps up industrial reforms and tax modernisation to attract high-value investments

MALAYSIA is intensifying efforts to enhance its investment appeal by advancing key economic strategies and modernising its taxation system to provide businesses with greater certainty, efficiency and confidence.

Finance Minister II Datuk Seri Amir Hamzah Azizan said flagship initiatives including the New Industrial Master Plan 2030 (NIMP 2030), the National Energy Transition Roadmap (NETR) and the Johor-Singapore Special Economic Zone (JS-SEZ) were central to the government’s ambition of building a more resilient and competitive economy.

He said the initiatives formed part of a wider national strategy to attract high-quality investments, strengthen local industries, create better employment opportunities and expand Malaysia’s role in regional and global value chains.

"These measures form part of the national strategy to attract high-quality investments, strengthen domestic industries, create better employment opportunities and enhance Malaysia’s position within regional and global value chains," he said during the opening of the 26th National Tax Conference in the capital on Tuesday.

Amir said a modern and effective taxation framework was a key component in attracting investors, as businesses needed policy certainty and consistency when planning long-term operations and investments.

He said transparency, good governance and a trusted tax administration system were increasingly important in shaping investor decisions, with markets responding positively to countries that offered clear and efficient regulatory frameworks.

The minister said taxation systems globally must continue evolving in response to rapid economic changes driven by digitalisation, deeper connectivity and increasingly complex commercial activities.

He added that the emergence of new business models, growing cross-border transactions and changes in international taxation standards required Malaysia to continuously enhance its tax policies and administrative capabilities.

"Malaysia has responded proactively to these developments through ongoing reforms and initiatives to digitalise the taxation system," he said.

The government, he added, would remain committed to strengthening transparency, efficiency and integrity across the taxation ecosystem to ensure Malaysia continues to be a preferred investment destination while supporting sustainable economic growth. - August 4, 2026