Abundant opportunities exist for Singaporean companies in the electronics and electrical (E&E) sector in Malaysia, says Malaysian High Commissioner to Singapore, Datuk Husni Zai Yaacob.
“In 2013, Malaysia's total trade amounted to US$434 billion (RM1.37 trillion), of which exports amounted to US$228 billion (RM720 billion), while imports totalled US$206 billion (RM650 billion).
About 33 per cent or US$75 billion (RM236.7 billion) comprised E&E exports, making E&E the biggest export component for Malaysia," remarked the High Commissioner at a seminar themed, "Completing the E&E value chain in Malaysia," organized by the Malaysian Investment Development Authority (MIDA).
The objective of the seminar was to update participants on latest developments in Malaysia's E&E sector, as well as plans and initiatives for the industry's future.
Participants at the seminar were informed by MIDA that Malaysia has a strong base for the growth of the E&E industry, especially in semiconductors. Malaysia has developed the eco-system for the industry to enable E&E companies to flourish.
The continued presence of major multinational companies has benefited the industry in terms of technological advancement and skills development.
MIDA has also encouraged the development of domestic supporting industries and outsourcing activities, in the supply of equipment, material, parts and components, and dedicated services.
Working together with the relevant government agencies and the private sector, MIDA will continue to assume a pivotal role to ensure that Malaysia's investment climate remains attractive, conducive and cost-competitive for industry players.
MIDA’s role is not only confined towards attracting new investments, but also to encourage existing companies in the country to expand and diversify their operations.
Adapted from BERNAMA and MIDA, 24 April 2014