The European Union Chamber of Commerce in China (Shanghai Chapter) and the Malaysian Investment Development Authority (MIDA) successfully organised a webinar session on 16 June 2020. The webinar highlighted Malaysia’s diversified economic structure, which contributes to the countries competitiveness as well as one of the top global manufacturing nations amid the COVID-19 pandemic.
Dato’ Azman Mahmud, CEO of MIDA, during his presentation, said that the main challenge arising from the COVID-19 pandemic is supply chain disruptions. Countries such as Japan, Korea and the USA have made announcements to encourage their respective home-based companies to relocate from China, to mitigate risks of being overly-dependent on one singular country.
Therefore, as more companies are seeking to diversify their supply chains to be more resilience, Malaysia is positioning itself as a global supply chain hub in Asia. This builds upon Malaysia’s current long term focus of developing catalytic industries, namely electrical and electronics (E&E), machinery and equipment (M&E) and chemical; as well as high-potential industries such as medical devices and aerospace. Coupled with Malaysia’s transition towards the implementation of Industry 4.0, there are vast opportunities for innovative industries to grow in the country.
Dato’ Azman strongly encouraged companies to
consider Malaysia as a global supply chain hub
in Asia. Malaysia has the advantage of having
a robust E&E base, good supporting local