The MyPlast Sourcing Summit 2023, organised by MIDA in collaboration with the Malaysian Plastics Manufacturers Association (MPMA) at the One World Hotel in Petaling Jaya, Selangor, successfully provided a dynamic platform for collaboration between Small and Medium Enterprises (SMEs) and Multinational Companies (MNCs). The event focused on catalysing growth and strengthening the local plastics supply chain ecosystem, aiming to empower SMEs with innovative approaches to enhance their plastic production capabilities, thus contributing significantly to the economy and bolstering competitiveness.

Datuk Wira Arham Abdul Rahman, CEO of MIDA, praised the effective coordination of the MyPlast Sourcing Summit. He highlighted the significance of the plastic products industry in Malaysia, noting its established status and pivotal role in fostering the growth of essential manufacturing sectors, including electrical and electronics, automotive, aerospace, medical devices, and food packaging. Emphasising the industry’s crucial role in driving innovation and supporting key sectors of the economy, he commended its contributions to economic development.

The collaborative efforts between MNCs and local plastics manufacturers, exemplified by initiatives like the MyPlast Sourcing Summit, were underscored as crucial for advancing the growth of local enterprises. Such initiatives contribute to progress in innovative and sustainable plastic manufacturing, aligning with the goals outlined in the Malaysia Plastics Sustainability Roadmap 2021-2030.

Mr. CC Cheah, President of MPMA, extended his appreciation to MIDA for their collaborative efforts in pooling resources with MPMA. This collaboration facilitated business matchmaking sessions between MNCs and MPMA members, addressing significant challenges in the supply chain, including issues related to quality, cost, and supply consistency. The complexities involved in sourcing suppliers that meet precise requirements were acknowledged, emphasising the importance of addressing these factors in interactions between buyers and sellers.

The evolution of Malaysia’s plastics industry reflects its remarkable adaptability and resilience. Originating from modest origins, the industry has expanded and integrated into the global value chain, finding applications in consumer goods, electronics, construction materials, and automotive components. The MyPlast Sourcing Summit was positioned as a catalyst for prospective collaborations, establishing links between SMEs and MNCs with the potential to transform the plastics industry in Malaysia and position the country as a noteworthy international player in the plastics business and industry.