Tengku Datuk Seri Zafrul Abdul Aziz, former Minister of Investment, Trade and Industry (Miti), has been appointed as the new chairman of the Malaysian Investment Development Authority (Mida), effective Wednesday, the Prime Minister’s Office (PMO) announced. He will serve a two-year term, with additional responsibilities to be revealed at a later date.
The Mida chairmanship had been vacant for over a year following the end of Tan Sri Dr Sulaiman Mahbob’s term in September 2024. Zafrul, a former banker turned government minister, first joined the administration in March 2020 as finance minister under the Perikatan Nasional government, continuing in the role under the Barisan Nasional-led administration until November 2022. Following the 15th general election, he was appointed a senator and Miti minister under Prime Minister Datuk Seri Anwar Ibrahim’s unity government, serving until Dec 2, 2025.
Mida described Zafrul’s appointment as a strategic move to strengthen Malaysia’s investment promotion and development capabilities amid intensifying global competition. The agency highlighted his expertise in financial services, trade negotiations, government policy, and investment facilitation.
During his tenure as Miti minister, Zafrul oversaw record-breaking investment inflows, with RM329.5 billion approved in 2023 and RM378.5 billion in 2024. In the first nine months of 2025, approved investments reached RM285.2 billion, a 13.2% increase compared with the same period last year, despite global economic challenges.
“His appointment ensures continuity in our strategic direction while bringing fresh momentum to our operational priorities,” said Mida CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid. “We are confident that his leadership will further enhance Malaysia’s position as a premier investment hub.”
