Azmin: Insulet’s investment in Johor will see positive spillovers
02 Jun 2022
Insulet Corporation’s investment of about US$200 million in Johor, will see positive spillovers including the creation of high-income jobs in high-tech fields, strategic local vendor development programmes and others.
Senior Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali said the company’s proposed investment is very much aligned with the 12th Malaysia Plan (12MP).
Under the 12MP, it champions the medical devices industry as one of the key industries that would help propel Malaysia into the high technology trajectory and the National Investment Aspirations (NIA) that focuses on attracting quality foreign investments into Malaysia with intensification on research and development (R&D) and new technologies.
“We will continue to strengthen the infrastructure required for Malaysia to be a ‘Home for Talent’, driving businesses and innovation in Asia and the world,” he said in a statement released by the Malaysian Investment Development Authority (MIDA) today.
Meanwhile, MIDA chief executive officer Datuk Arham Abdul Rahman said Insulet’s entry into Malaysia is a testament of the country’s attractiveness in bringing premium and high-tech medical devices product manufacturers into the country.
“It is consistent with our aspiration in making the country as the regional medical devices manufacturing hub to serve ASEAN as well as the rest of the world. We welcome Insulet’s global expansion and its addition to Malaysia’s ever-growing medical devices industry ecosystem,” he added.
According to MIDA, Malaysia is well positioned to be the manufacturing hub for the medical devices industry in Asia. Presently, Malaysia is home to over 200 manufacturers, with more than 30 medical devices MNCs producing high value-added medical devices.
“The second and third tiers of manufacturers for parts and components of medical devices have increased opportunities for local vendors to be integrated into the global supply chain of this industry,” it said.
Earlier today, Insulet Corp which is a US-based medical devices company headquartered in Acton, Massachusetts, held a groundbreaking ceremony in Gelang Patah, Johor, which will be its new manufacturing facility to produce its Omnipod Insulin Management System.
The new manufacturing facility would see an expansion from Insulet’s existing manufacturing capacity in the United States and China.