High-end manufacturing faces major challenges

PETALING JAYA: The high-end manufacturing sector is faced with the huge challenge of keeping abreast with the latest technology and innovation, research and development investments and employing more skilled workers, according to Deputy Finance Minister II Datuk Lee Chee Leong (pic).

Lee said apart from being faced with stiff competition due to low-cost locations and inefficiences linked with widely used cheap labour, the manufacturing industry were also confronted with issues pertaining to sustainable manufacturing practices, greater compliance with global standards and strenthening ties with stakeholders.

Following the Budget 2017 consultation on June 16 chaired by the Prime Minister, he said the ministry had several focus group meetings to follow-up on issues and recommendations highlighted during the consultation and from memorandums sent to the ministry.

“The focus group meetings will provide invaluable inputs for crafting the 2017 Budget, which is due to be tabled in Parliament on Oct 21, 2016,” said Lee in his speech during the Budget 2017 focus group meeting entitled ‘Moving Up the Value Chain of Manufacturing Sector’ yesterday.

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