Companies keen to make Malaysia their regional hub

KUALA LUMPUR: More than 98% of the total manufacturing projects approved in 2023 have been implemented or in the planning stage as of May 5, says the Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz

According to the ministry, Malaysia saw a total of Rm152bil approved investments for the manufacturing sector in 2023, of which Rm46.1bil were realised last year, involving 445 projects.

“As the ministry and its relevant agencies, like the Malaysian Investment Development Authority and the Malaysia External Trade Development Corp, have diligently pulled out all the stops in the past one and a half years in realising and implementing committed investments and exports, we are seeing more and more companies wanting to make Malaysia their regional manufacturing or services hub.

“This means that Malaysia is where global companies can situate their regional hubs, and where domestic homegrown companies can grow into global champions,” the minister said in his speech at the soft launch of the 3D Visualisation and Virtual Augmented Mixed Reality Lab here yesterday.

The launch of the 3D lab, an initiative led by the National Aerospace Industry Corp Malaysia, under the Malaysian Aerospace Centre of Excellence, was held on the sidelines of the Defence Service Asia 2024 exhibition.