KUALA LUMPUR, MALAYSIA December 3, 2025 – Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz has been appointed as the new Chairman of the Malaysian Investment Development Authority (MIDA), effective immediately, following an announcement by Prime Minister Dato’ Seri Anwar Ibrahim. The move is seen as a bid to bolster Malaysia’s investment landscape amid intensifying global economic challenges.
Tengku Zafrul, who concluded his three-year term as Minister of Investment, Trade and Industry (MITI) on December 2, steps into the role with a proven track record in both public policy and financial services. During his ministerial stint from December 3, 2022, he steered Malaysia through turbulent international trade dynamics, including geopolitical shifts and supply chain disruptions, positioning the country as a key investment hub.
Under his leadership at MITI, Malaysia recorded unprecedented investment inflows. Approved investments reached RM329.5 billion in 2023, surged to a historic high of RM378.5 billion in 2024, and climbed to RM285.2 billion in the first nine months of 2025 alone—a 13.2% increase from the previous year despite global headwinds.
Key initiatives spearheaded by Tengku Zafrul include the New Industrial Master Plan (NIMP) 2030, the National Semiconductor Strategy, the Green Investment Strategy, the Chemical Industry Roadmap, the ESG Industry Framework, and the Circular Economy Policy Framework. He also played a pivotal role in advancing Malaysia’s position within ASEAN, particularly during the country’s 2025 chairmanship, where MITI advanced 18 Priority Economic Deliverables focused on emerging sectors like electric vehicles and artificial intelligence to foster regional integration.
Additionally, Tengku Zafrul oversaw the conclusion of the Malaysia-US Reciprocal Trade Agreement, safeguarding market access for Malaysian exports.
His prior experience with MIDA dates back to his time as Group Chief Executive Officer of CIMB Group Holdings Bhd from 2014 to 2020, during which he served as a MIDA Board Member from July 2012 to 2018. This background provides him with intimate knowledge of the agency’s operations and Malaysia’s investment promotion ecosystem.
MIDA Chief Executive Officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid welcomed the appointment, stating, “Under Tengku Zafrul’s stewardship at MITI, Malaysia achieved record investment approvals and significantly improved our project implementation rates. His appointment as MIDA Chairman ensures continuity in our strategic direction while bringing fresh impetus to our operational priorities. We are confident that his leadership will further enhance Malaysia’s standing as a premier investment hub.”
Tengku Zafrul holds a BSc (Honours) in Economics and Accounting from the University of Bristol, an MSc from the University of Exeter, and an Executive MBA from Tsinghua University’s People’s Bank of China School of Finance. He is also a Fellow Chartered Banker with the Asian Institute of Chartered Bankers.
Established in 1967, MIDA serves as Malaysia’s primary agency for promoting and developing investments in the manufacturing and services sectors under MITI. With headquarters in Kuala Lumpur Sentral and a network of 12 regional and 21 overseas offices, MIDA aims to capitalize on opportunities from technological advancements to attract global investors.
This appointment comes at a critical juncture as Malaysia seeks to maintain its competitive edge in sustainable and high-tech industries.
