GEORGE TOWN, June 17 (Bernama) — The electrical and electronics (E&E) sector attracted investments of RM3.2 billion in the first quarter of the year and will remain a major contributor to the country’s Gross Domestic Product, says Malaysian Investment Development Authority (MIDA) Chairman Tan Sri Amirsham A.Aziz.
He said the sector rebounded with a high-level of investments with 20 projects approved during the quarter and was expected to provide employment and increased opportunities to local companies.
Despite Malaysia being home to many of the largest and most successful multinational corporations, the industry also had many home-grown stars.
“Domestic players have taken the lead to move up the value chain as many players have started to get involved in research and development (R&D) in the E&E industry.
“SMEs (small-and-medium entrepreneurs) has also shown innovation interest as there are abundant opportunities within the E&E industry,” he said in a keynote address at a seminar on the electrical and electronics industry here Monday.
Amirsham said the approved investment recorded in the E&E sector between January and March affirmed Malaysia’s effort to attract high-technology, skill-intensive and high-value added activities have been successful.
“As we transit from labour intensive investment to high-technology investment, the E&E sector last year saw a significant reduction in investment to RM3.98 billion compared with RM20.06 billion in 2011.
“Our manufacturing sector has also undergone a period of transformation and restructuring,” he added.
He said MIDA was very excited that more E&E companies were undertaking global functions and shared services such as R&D centres, operational headquarters, global supply chain, global distribution and global fulfillment centre in Malaysia this year.
He added the establishment of global R&D functions, with new product introduction functions within the E&E industry in Malaysia, was paving the way for technology transfer from parent companies to the local workforce.
He said the sector rebounded with a high-level of investments with 20 projects approved during the quarter and was expected to provide employment and increased opportunities to local companies.
Despite Malaysia being home to many of the largest and most successful multinational corporations, the industry also had many home-grown stars.
“Domestic players have taken the lead to move up the value chain as many players have started to get involved in research and development (R&D) in the E&E industry.
“SMEs (small-and-medium entrepreneurs) has also shown innovation interest as there are abundant opportunities within the E&E industry,” he said in a keynote address at a seminar on the electrical and electronics industry here Monday.
Amirsham said the approved investment recorded in the E&E sector between January and March affirmed Malaysia’s effort to attract high-technology, skill-intensive and high-value added activities have been successful.
“As we transit from labour intensive investment to high-technology investment, the E&E sector last year saw a significant reduction in investment to RM3.98 billion compared with RM20.06 billion in 2011.
“Our manufacturing sector has also undergone a period of transformation and restructuring,” he added.
He said MIDA was very excited that more E&E companies were undertaking global functions and shared services such as R&D centres, operational headquarters, global supply chain, global distribution and global fulfillment centre in Malaysia this year.
He added the establishment of global R&D functions, with new product introduction functions within the E&E industry in Malaysia, was paving the way for technology transfer from parent companies to the local workforce.