“Supply chain resilience is now the most important concern of firms everywhere. While it is a difficult global environment, it may also be Malaysia’s opportunity to rise again if we play our cards well as a nation,” Deputy Minister of Investment, Trade and Industry (MITI), Liew affirmed during his address at the National Investment Seminar themed “Re-energising Domestic Investment.”
He said, “Seizing the opportunities offered by the global shift, the Government and the industries need to work together to reduce and eventually break down the walls between MNCs in Malaysia and domestic firms through win-win localisation programmes so that MNCs get shorter and more resilient supply chains while domestic firms get access to a much larger market by doing more for the MNCs in Malaysia. This is the first change we must pursue.”
“This seminar is timely as firms and companies grapple with post-Covid-19 recovery and an increasingly polarised global economy,” Liew added. He called for strategic reimagining of approaches to effectively adapt to these evolving challenges.
Liew outlined Malaysia’s strategic vision to foster a robust localisation programme, nurturing technological innovation and capabilities among Malaysian firms. He underscored the importance of heightened investments in research and development (R&D) to propel local industries towards leadership roles in the global market.
“We aspire for Malaysian companies to achieve greater heights, guided by the government’s New Industrial Master Plan 2030,” Liew said.
The National Investment Seminar served as a pivotal platform to strategise and align efforts towards achieving Malaysia’s economic aspirations amidst transformative global landscapes.
