The Ministry of Commerce and Industry was established in April 1956 and situated in Government Office, Jalan Raja.
The Ministry was then renamed the Ministry of Trade and Industry in February 1972. On 27 October 1990, the Ministry was separated into two Ministries which are:
- Ministry of International Trade and Industry (MITI); and
- Ministry of Domestic Trade and Consumer Affairs (KPDN)
Vision
To make Malaysia the preferred investment destination and among the most globally competitive trading nations
Mission
- To attract quality investment and further innovate industrial activities to produce high value-added goods and services
- To elevate Malaysia’s competitiveness among the top global trading nations
Objectives
- To formulate and implement investment, trade and industrial policies to generate sustainable economic growth
- To create innovative and high skilled employment opportunities for Malaysia’s growing workforce
- To drive Malaysia towards a developed nation and enhance the well-being of the rakyat
Functions
- To develop and implement policies on industrial development, international trade and investment
- To attract quality foreign and domestic investments
- To promote and increase Malaysia’s exports of high value-added goods and services by strengthening bilateral, regional and multilateral trade relations and cooperation
- To enhance national productivity and competitiveness, particularly in manufacturing and services sectors
- To ensure a conducive business ecosystem to facilitate trade and investment
- To provide credible standardisation, accreditation and conformity assessment services to enhance societal and environmental well-being as well as facilitate trade and economic growth
- To promote and accelerate adoption of digitalisation and innovative technologies, including data-driven policies, towards growing globally competitive industries
- To facilitate the development of small and medium enterprises, including homegrown industries, and the Bumiputera community to become globally competitive and integrate into the global value chain