KUALA LUMPUR, April 12 — The Ministry of International Trade and Industry, better known by the acronym Miti, today announced that it has changed its name to the Ministry of Investment, Trade and Industry.

It said the rebranding is in line with Prime Minister Datuk Seri Anwar Ibrahim’s decision at Cabinet meeting on April 5.

"This is also in line with the Ministry's leading and responsible function to encourage the attracting foreign investment, empower local investment, strengthen international trade and empower sustainable industrial development.

"It is also in line with the Government's aspiration to further boost investment promotion activities as outlined under the National Investment Aspirations (NIA) for the continuation of the country's economic redevelopment as outlined by the Madani Government,” it said in a statement.

Miti said it remains committed to attracting high-quality and high-impact new investments, expanding international trade networks and strengthening existing industry sectors as a key contributor to the country's economic development for the well-being of the people and business sectors, especially small and medium enterprises.