Special Session with MIDA & MDEC – New Principal Hub + Services Incentive

AMCHAM held a special breakfast talk on 05 November 2019 for members to learn more from the Malaysian Investment Development Authority (MIDA) about their recently-released ‘Principal Hub 2.0’ Incentive Program, and from the Malaysia Digital Economy Corporation (MDEC) about their new Services Incentive.

The Principal Hub incentive was established in 2015 and was designed to attract multinational companies to leverage Malaysia as a base for conducting their regional or global businesses. In early October 2019, modifications were announced by MIDA.

To help members to better understand the content and rationale behind this enhanced incentive scheme, Ms. Reena Kanny, Deputy Director of MIDA’s Business Services & Supply Chain Innovation Division provided the insight. Members learnt more on the function, content and the conditions to be met for their business to benefit from the Principal Hub. 

MDEC’s presentation was delivered by Mr. Justin Tan, Head of Research & Advisory, Investment & Industry Development and allowed for members to know more about the MSC Incentive Service – the different categories, eligibility criteria and procedure as well as the tax exemption scope.