Government aims to make Malaysia high-end manufacturing, services destination
22 Jan 2024
The government aims to make Malaysia a destination for high-end manufacturing and services to attract more foreign direct investments and domestic investments.
Deputy Investment, Trade and Industry Minister, Liew Chin Tong said it is important for investors to be aware that Malaysian factories can produce high-end products, including semiconductors.
It should also be highlighted that the country provides top-tier, high-end services such as legal, environmental and engineering, as well as services for regional headquarters, he said.
Speaking to reporters after an event to promote the 7th China International Import Expo (CIIE), he said Malaysian companies should participate in more international exhibitions as part of efforts to highlight Malaysian capabilities.
“Events like CIIE provide a platform for Malaysian entrepreneurs to engage with Chinese businesses, facilitating trade relations to the benefit of both nations,” said Liew.
He added that the key point is to encourage substantive cooperation, assist mutual understanding through exhibitions and expos, and foster an understanding of each other’s regulations and economic controls.
In his speech earlier, Liew also emphasised the need for greater integration between government and private entities in the context of high-end manufacturing and services.
“Our responsibility is to improve Malaysia’s regulations and propose initiatives that create a positive impact on Malaysia-China businesses, focusing on high-end manufacturing and services within the policy and legal frameworks,” he added.
The 7th CIIE will be held in Shanghai, China in November this year.