‘E&E sec­tor key for lo­cal firms’ in­clu­sion in global sup­ply chain’

New Straits Times - - Business -

KUALA LUMPUR: The Na­tional Ex­port Coun­cil (NEC) has iden­ti­fied the elec­tri­cal and elec­tron­ics (E&E) seg­ment as the key sec­tor to pro­mote the in­clu­sion of Malaysian com­pa­nies in the global sup­ply chain.

Malaysia Ex­ter­nal Trade De­vel­op­ment Corp (Ma­trade) said this was due to its sig­nif­i­cance in de­vel­op­ing new in­dus­tries driven by knowl­edge, high-tech­nol­ogy and value-added fac­tors.

“The E&E multi­na­tional com­pa­nies in Malaysia have been iden­ti­fied as a cat­a­lyst to de­velop lo­cal small and medium en­ter­prises into high-value cor­po­ra­tions,” said Ma­trade in a state­ment af­ter the NEC meet­ing chaired by Prime Min­is­ter Datuk Seri Na­jib Razak, here, yes­ter­day.

Ma­trade said the meet­ing found that by boost­ing the per­for­mance of the E&E sec­tor, more mar­ket lead­ers from Malaysia would be de­vel­oped, in­creas­ing the par­tic­i­pa­tion of lo­cal com­pa­nies in the global sup­ply chain, par­tic­u­larly in emerg­ing seg­ments.

“Among the seg­ments are sys­tems in­te­gra­tion, cloud com­put­ing, ad­vanced en­ergy stor­age, wire­less elec­tron­ics, elec­tric ve­hi­cles, In­ter­net of Things, aug­mented re­al­ity and big data,” it said.

Ma­trade said the E&E sec­tor con­trib­uted 44.6 per cent to the coun­try’s to­tal man­u­fac­tur­ing ex­ports last year.

It also con­trib­uted 23.4 per cent to the coun­try’s gross do­mes­tic prod­uct last year and cre­ated more than 780,000 jobs.

The NEC meet­ing also em­pha­sised on the strategies to pro­mote the us­age of lo­cal con­tent in key lo­cal de­vel­op­ment projects, said the na­tional trade pro­mo­tion agency.

“The govern­ment, through its agen­cies such as Malaysian In­vest­ment De­vel­op­ment Author­ity, Con­struc­tion In­dus­try De­vel­op­ment Board and Ma­trade will fa­cil­i­tate the match­ing of lo­cal sup­pli­ers with de­vel­op­ers through in­dus­try col­lab­o­ra­tion pro­grammes,” it said

The meet­ing also dis­cussed strategies to im­prove the ser­vices trade bal­ance through the tourism in­dus­try and on­go­ing ini­tia­tives to im­prove agro­food trade bal­ance, Ma­trade added. Ber­nama

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The elec­tri­cal and elec­tron­ics sec­tor con­trib­uted 44.6 and 23.4 per cent to Malaysia’s to­tal man­u­fac­tur­ing ex­ports and gross do­mes­tic prod­uct, re­spec­tively, last year.

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