Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
KUALA LUMPUR: Malaysia remains committed to facilitating new investments while addressing challenges arising from the geopolitical and geoeconomic landscape, said Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.
He acknowledged that geopolitical and geoeconomic factors influence corporate decisions but assured that the government is prepared to intervene if they affect Malaysia's economic growth.
"We want to ensure that if there is any impact on jobs, the Ministry of Investment, Trade and Industry, the Malaysian Investment Development Authority, and all the relevant agencies within the government will engage with the affected companies to help displaced staff secure new employment.
"That is important,” he told the media after the official launch of Madani Digital Trade (MDT) when asked about Porsche’s workforce reduction and cost-cutting measures amid trade tensions, as well as the potential impact of similar restructuring pressures on Malaysia’s automotive sector and the government's preparations to address them.
Tengku Zafrul noted that the current geopolitical landscape has impacted geoeconomics, therefore, the government would continue to monitor the development.
"But we must also recognise that it's not just about geopolitical challenges-sometimes, industry dynamics also play a role.
"There is also an element of competition. In some sectors, including the automotive industry, incumbents face challenges from new players, particularly in the electric vehicle sector. So, maybe it’s a combination of both,” he concluded. - Bernama
