KUALA LUMPUR: The American Malaysian Chamber of Commerce (AmCham Malaysia) expects the medical devices and aviation sectors to see greater investment growth moving forward, backed by tremendous sustainability growth in the electrical and electronics (E&E) industry.
As both sectors are almost complementary to the base industry of E&E, they rely on each other and share similar skills and knowledge, according to AmCham Malaysia chief executive officer Siobhan Das.
She said the government had implemented a very successful investment plan in the E&E industry as evidenced by the companies from the United States, Germany or Taiwan doing extremely well here.
“There is (investment) growth coming out from the E&E sector, and there is a shift towards the healthcare and medical devices sectors too.
“While aviation is becoming an increasingly strong area, we would see greater growth to come from these two industries, ” she said at the World Bank Group webinar titled Aiming high: Navigating the next stage of Malaysia’s development yesterday.
Citing Microsoft’s US$1bil (RM4bil) “Bersama Malaysia” initiative to establish its first data centre region in the country, Siobhan said it was built on Malaysia’s sound and strong fundamentals.
“Any investors who are looking at Asia, should be looking at Malaysia very seriously, ” she said.
To keep ahead of competitors, Siobhan urged the government to modernise the industry ecosystem by opening up the services sector to encourage greater participation of foreign investments.
On how the local small and medium enterprises (SMEs) could enhance their presence in the global arena, Siobhan said they should have better awareness of regulatory compliance issues such as climate initiative or labour practices.
“More can be done to help the SMEs understand what is it like to work at global level, as investors who are in Malaysia are not only working for the Malaysian market, but also for the global markets, ” she added. — Bernama