Malaysia is on track to become global medical technology (medtech) hub with the country’s strong policies in attracting and executing the right investments, including the New Industrial Master Plan 2030 (NIMP 2030), said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said the ministry will continue with the industrial reforms to ensure the resilience and sustainability of Malaysia’s medtech growth to realise this ambitious vision.

“Strengthening Malaysia’s position as a medtech hub, as provided for in NIMP 2030, is not just a strategy. It is also Malaysia’s commitment to safeguarding lives, contributing to Asean’s growth, as well as supporting the global health and wellness sector,” he said in his keynote speech at the International Medical Device Exhibition and Conference in conjunction with Malaysia’s hosting the 28th annual meeting of the Global Harmonisation Working Party here today.

He invited stakeholders to join his ministry in this transformative journey.

Tengku Zafrul emphasised that medtech plays an important role in enhancing healthcare delivery, improving patient outcomes, and driving economic development, and therefore, medtech is clearly an industry that transcends borders in addressing global health challenges.

The global medical devices market size was valued at more than US$518 billion (RM2.3 trillion) in 2023, and it is projected to grow from US$542 billion in 2024 to almost US$887 billion by 2032, representing a compound annual growth rate of 6.3% during the period.

The minister pointed out that Malaysia’s medtech industry is well-supported by the right policies to grow sustainably through NIMP 2030.

For the medtech sector, Tengku Zafrul said, the ministry wants industries to focus on personalised medicine, digital health, and medical robotics to drive economic complexity, efficiency and value-added growth.

He called fon industries to embrace Industry 4.0 technologies such as artificial intelligence, Internet of Things and robotics.

Tengku Zafrul also urged industries to foster more strategic partnerships, in which global medtech companies collaborate with domestic industry leaders to strengthen the local ecosystem and help companies access global supply chains.

“Our medical device industry is currently host to over 200 manufacturers, who collectively generated RM28.15 billion of exports of medical devices in 2023. Thirty of those companies are multinational companies that have made Malaysia their manufacturing base, including renowned brands such as Abbott and B-Braun,” he added.

Tengku Zafrul said the total export of medical devices was valued at RM27.2 billion, a 30.0% increase year-on-year from January-September 2024, which means that exports for 2024 are set to surpass last year’s figure by a comfortable margin.

Source: Bernama

Malaysia on track to become global medical technology hub: Tengku Zafrul

Malaysia has become the preferred destination for over 200 medical device manufacturers and more than 30 multinational companies in the healthcare industry.

Health Minister Datuk Seri Dr Dzulkefly Ahmad said the medical device sector contributed approximately RM18 billion to the country’s economy in 2023.

“This sector has also created approximately 95,000 jobs locally since 2012. Under the New Industrial Masterplan (NIMP) 2030, the medical device industry has been identified as a crucial sector that enhances our country’s investment value.

“As an example, we cater to 60 per cent of the global demand for gloves, (thus) making Malaysia the world’s number one producer of gloves and rubber-based products,” he said during the opening ceremony of the International Medical Device Exhibition and Conference (IMDEC) 2024 here today.

Dr Dzulkefly added that IMDEC 2024 highlighted Malaysia’s commitment to embracing technological advancements while promoting regulatory harmonisation across borders.

“It is a vital platform dedicated to aligning global medical device regulations, fostering international cooperation and establishing unified standards,” he said.

Held alongside the 28th Global Harmonisation Working Party (GHWP) Annual Meeting, IMDEC 2024 brought together more than 600 international delegates and 10,000 visitors from various sectors of the healthcare industry.

The event, themed “Unleashing the Power of Medical Technology, Shaping the Future of Healthcare”, serves as a platform for industry dialogue, knowledge sharing and collaboration in addressing critical challenges, as well as exploring technological advancements transforming healthcare systems.

One of its highlights is the Innovation Presentation Session (INNOMed), which empowers local entrepreneurs with financing and collaboration opportunities to develop locally-made medical devices tailored to Malaysia’s healthcare needs.

Source: Bernama

Malaysia emerges as preferred hub for medical device manufacturers – Dr Dzulkefly

Some 32,535 units of Battery Electric Vehicles (BEV) passenger and commercial vehicles (excluding buses) have been registered in the country and are eligible to receive the benefits of the full road tax exemption incentive as at Sept 30 this year, says Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

The Investment, Trade and Industry minister said to encourage the use of BEV, the government has offered an incentive of full exemption from road tax for four years, starting from Jan 1, 2022, to Dec 31, 2025.

“Based on the registration records from the Road Transport Department (RTD) up to Sept 30, 2024, for passenger and commercial vehicles, approximately 32,535 units of BEV passenger and commercial vehicles (excluding buses) have been registered in Malaysia and, generally, are eligible to receive the benefits of this full road tax exemption incentive,” he said in a parliamentary written reply to a question from Datuk Muslimin Yahaya (PN-Sungai Besar), who asked the ministry to state number of road tax exemptions for Electric Vehicle (EVs).

He also wanted to know what are the measures taken by the government so that the B40 group of income earners can enjoy the use of EVs.

In terms of electric vehicle usage by the B40 group, Tengku Zafrul said the ownership of such vehicles is more focused on the use of electric motorcycles rather than electric cars, considering the lack of locally manufactured electric car options at competitive prices in the local market.

“To cater to this market potential, both national car manufacturers, Perodua and Proton, are planning to produce electric cars to meet domestic demand in the near future,” he said.

Aside from that, Tengku Zafrul said through full exemption incentives for various other taxes, some vehicle manufacturing companies from other brands have also started producing and selling their respective electric cars, offering competitive prices compared to internal combustion engine cars.

To encourage the use of electric motorcycles in Malaysia, he said his ministry, through its agency MARii, has implemented the Electric Motorcycle Use Promotion Scheme (MARiiCas)

“This scheme offers a rebate of RM2,400 for the purchase or subscription of electric motorcycles, specifically for Malaysians with an annual income below RM120,000.

“The scheme was introduced in 2024 with the aim of encouraging the public to seize the opportunity to switch to fully electric-powered vehicles as their daily mode of transportation.

“Under Budget 2025, this scheme has been extended for another year until 2025,” said Tengku Zafrul.

The Ministry, through MARii, he assured will continue to promote this scheme so that more Malaysians, including the B40 group, can take advantage of this incentive opportunity to own at least one electric vehicle, such as an electric motorcycle, as an alternative mode of transportation.

Source: The Star

More than 32,000 BEVs registered as at Sept 30, eligible for benefits, says Tengku Zafrul

Chinese manufacturers have significantly contributed to the Malaysian economy via sectors such as electronics and electrical, automotive and transport since Malaysia-China diplomatic relations were established in 1974.

The Southeast Asia Research Centre for Humanities (Search), in an analysis report, said through the adoption of advanced technologies, innovation, and support for SMEs, these companies have strengthened Malaysia’s industrial value chain, enhanced export competitiveness, and established the country as a regional hub for advanced manufacturing.

“Chinese construction firms have also made substantial contributions by developing high quality infrastructure using advanced building technologies, with a strong emphasis on safety and environmental sustainability.

“These efforts have bolstered Malaysia’s sustainable development capabilities and global competitiveness, attracting foreign investment while creating local business opportunities and jobs,“ said Search’s senior research fellow Dr Ong Sheue Li at the presentation of a report titled “Assessing the Roles of Chinese Enterprises in Malaysia’s Economic Development” here recently.

The report was jointly released by the China Enterprises Chamber of Commerce in Malaysia (CECCM).

Ong said green industries, renewable energy initiatives and the digital economy, including e-commerce and technology, play a pivotal role in driving Malaysia’s high growth and sustainable economic transformation. At the same time, Chinese firms in Malaysia have made significant contributions to human capital development.

Search CEO Ian Neo Chee Hua said the proportion of Malaysian high-skilled employees of Chinese enterprises operating in Malaysia exceeded 56% in 2024 and is expected to surpass 62% by 2030. The proportion of local semi-skilled employees in Chinese enterprises operating in Malaysia exceeded 70% in 2024 and is expected to reach 74% by 2030.

“The growth in high-skilled jobs was largely driven by Chinese enterprises’ strong focus on talent development and the continuous adoption of digital technologies.

“By leveraging technological advancements, facilitating technology transfer, and nurturing local talent, these enterprises are playing a vital role in Malaysia’s economic transformation,“ he said.

Neo noted that the creation of numerous semi-skilled jobs by Chinese companies underscores a robust localisation strategy, reflecting their deep integration into the local economy.

These efforts provide stable employment and income opportunities for Malaysia’s middle- and low-income households, fostering economic growth and improving social mobility.

“Additionally, the analysis report also showed that 70% of Chinese enterprises hired Malaysian fresh graduates, while 51% employed Malaysian graduates who had completed upskilling or reskilling programmes, with these figures expected to reach 89% and 79% by 2030,“ said Neo. He added that Chinese enterprises also actively champion green initiatives by investing in energy-efficient technologies, recycling waste, and adopting sustainable materials.

Neo highlighted that safety remains a top priority, with top management assuming key responsibilities, maintaining transparent reporting channels for safety issues, and regularly providing safety training to employees.

Since 2009, China has been Malaysia’s largest trading partner, with bilateral trade steadily increasing over the years, according to Malaysia’s Ministry of Foreign Affairs Malaysia this year.

In 2023, Malaysia’s total trade with China amounted to about RM450 billion.

Source: Bernama

Significant contributions by China manufacturers to Malaysian economy since 1974: Research centre

The Penang Silicon Design @5km initiative has received significant backing with Prime Minister Datuk Seri Anwar Ibrahim’s approval of RM50mil for the programme.

Anwar stated that the allocation is crucial to positioning Penang and Malaysia as a regional hub for the semiconductor industry, particularly in global IC Design and AI.

“The project is a major initiative which will establish our country as an important semiconductor hub for the region,” he said during the official launch of the Penang Silicon Design @5km+ Initiative at Eastin Hotel on Saturday (Dec 7).

Anwar mentioned that the approved allocation will be spread over five years (RM10mil per year) and will help Penang elevate its position as a key player in the global semiconductor industry.

He noted that Chief Minister Chow Kon Yeow had requested modest funding of about RM12mil per year but remarked that if he were the chief minister, he would have asked for RM200mil.

He explained that he views the initiative as a source of pride for Penang and Malaysia, showcasing the country’s strength and economic resilience.

“However, Chow understands our government’s constraints, so I’ve approved RM50 million to support and ease this initiative,” he said.

He assured that the federal government will assist InvestPenang and encouraged them to continue working hard to make Penang great.

Led by the state government through its main agency, InvestPenang, this new initiative marks a significant leap forward in advancing the semiconductor value chain, accelerating artificial intelligence (AI) developments, and positioning Malaysia at the forefront of global technological innovation.

The initiative aims to create a unique and interconnected ecosystem for Integrated Circuit (IC) design and technology enterprises within a 5km+ radius of the Bayan Lepas Industrial Park.

Spearheaded by InvestPenang, this ambitious initiative will be supported by attractive incentive packages worth up to RM2mil annually for each company over a three-year period, alongside the establishment of a governance structure to oversee project implementation.

Earlier in his speech, Chow stressed the state’s commitment to strengthening Penang’s position in the global value chain in line with the New Industrial Master Plan 2030 (NIMP 2030) and the National Semiconductor Strategy (NSS).

He said attracting strategic investments remains a priority while creating infrastructure and a conducive environment to support high-impact activities.

“With over 350 multinational corporations (MNCs) and 4,000 small and medium enterprises (SMEs) operating in Penang, the state now hosts more than 30 integrated circuit (IC) design companies—the highest in Malaysia.

“This sector is projected to reach a value of USD84.16bil by 2030,” he said.

He added that Penang also recorded nearly RM20 billion in service sector investments from 2019 to 2023, contributing 9% of the state’s total investments.

Recognising the sector’s vast potential, Chow said that Penang Silicon Design @5km+ was introduced as a proactive measure to bolster the state’s position in the IC design industry.

“This unique concept integrates all IC-related activities and ecosystems within a 5-kilometer radius+, driving economic growth through the creation of high-skilled jobs, increased investments, and sustainable technology development,” he said.

Present during the launch were Investment, Trade, and Industry Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz, Finance Minister II Datuk Seri Amir Hamzah Azizan, Human Resources Minister Steven Sim Chee Keong, and Deputy Finance Minister Lim Hui Ying.

Source: The Star

Penang semiconductor hub project to get RM50mil federal support

An accelerating influx of tech investment is transforming local economies in Malaysia and Vietnam.

Caravans of sand-filled trucks and bright red cranes punctuate the skyline of a rapidly expanding industrial complex in northern Vietnam. Further south in Malaysia, quiet villages and palm oil plantations are metamorphosing into heavy-duty technological manufacturing estates.

As multinationals, governments and startups rush to develop AI, establish chipmaking hubs and carve out access to raw computing power, the fallout from escalating Beijing-Washington tensions is seeding the tech nerve centres of the future in Southeast Asia and transforming the towns that surround them.

More than US$100bil in foreign direct investment has coursed through Malaysia and Vietnam from 2020 through 2023, with tens of billions more to come. The growth is resulting in job gains and rising incomes. But property prices and demand for power are increasing, and many of the best jobs are going to foreign workers.

“The US-China tensions under Trump 1.0 increased incentives for multinationals to have a China +1 strategy,” said Ong Kian Ming, a former Malaysian trade and investment deputy minister.

The region is at the heart of a shift that began during the Covid-19 pandemic and is changing the way the world’s smartphones, computers and data centre servers are made. Washington’s clampdown on Beijing’s tech ambitions drove companies to explore production in places as close as Mexico and as far as Southeast Asia, enriching countries where labour is abundant and governments are supportive.

“Covid-19 and the business environment in China expedited these moves, with Trump 2.0 letting the holdovers know that there is no turning back,” Ong said.

That optimism comes despite much broader tariff threats from President-elect Donald Trump this time around, which are complicating the investment environment beyond China. The US president-elect has vowed to impose universal tariffs, and his nominees for key economic positions have proposed targeting Chinese companies that set up shop in third countries, including those in Southeast Asia.

Governments across the region are already moving to shield themselves from Trump’s tariffs. Vietnam, one of the biggest beneficiaries of Chinese off-shoring, has already pledged to buy more aircraft, liquefied natural gas and other products from the US. A Malaysian official this week said he warned Chinese companies against investing just to avoid American tariffs.

At the same time, nations are continuing to do everything they can to boost a region set to collectively become the world’s fourth-largest economy.

“Malaysia sees this as a once-in-a-lifetime opportunity of escaping the middle-income trap and soon achieving its aspirations as a high-income nation,” Chow Kon Yeow, the chief minister of Malaysia’s Penang state, told Bloomberg.

Labelled an upper middle-income nation by the World Bank, with the highest GDP per capita in Southeast Asia by a wide margin after Singapore and Brunei, Malaysia accounts for 13% of the world’s share of chip testing, packaging and assembly. It is now expanding its chip manufacturing capacity.

Just across Vietnam’s border with China and about an hour’s drive from Hanoi, the province of Bac Ninh allows for an easy flow of people and trade. With more than 37,000 new jobs in the four years through 2023, it is fast evolving into a high-tech industrial hub.

Foxconn and GoerTek Inc., key suppliers to Apple Inc., Microsoft Corp. and Sony Group Corp. are among companies that have poured more than US$20bil into this town in the last decade, making critical products that range from AirPods to printed circuit boards.

GoerTek is building out its 127-acre (51-hectare) complex that will employ 50,000 workers. Advertisements abound on local websites, seeking a spectrum of candidates from low-skilled part-time work to senior engineering management positions.

Businesses in Bac Ninh sought candidates for 15,500 jobs through the local employment service platform in the first quarter of this year, up more than 50% from a year ago.

But a qualified workforce remains a challenge, and many of the lucrative assignments are going to Chinese expats.

“A new workforce with new skills is needed in order to meet the requirements of those firms,” said Nguyen Duc Cao, deputy head of Bac Ninh Industrial Zones’ management board.

A pre-requisite for a chip engineer is a bachelor’s degree, but most workers in Bac Ninh are high-school graduates with some vocational training, Cao said.

Vietnam aims to have 50,000 chip engineers by 2030 and is encouraging people to enrol in upskilling programs. Provinces are providing incentives, such as better access to social housing and medical services, to instructors and students in training programs.

The government is also rushing to stabilise power supplies a year after outages caused losses of hundreds of millions of dollars to multinational manufacturers. Large-scale solar rooftop panel projects and programs to generate power from water and waste are underway, while coal plants remain a large part of the solution.

Penang Island sits on the Strait of Malacca, one of the world’s busiest shipping routes and the main channel between the Indian Ocean and the Pacific Ocean. It links major regional economies such as India, Singapore, China, Japan, Taiwan and South Korea.

Not far from its capital George Town, a bustling port with twisting alleys and pastel-painted rowhouses that double as storefronts, Penang ships out more than half of Malaysia’s chip exports.

Since the 1970s, Malaysia has embraced technological advancement and invited foreign investment by attracting major players including Californian chip equipment makers Intel Corp. and Lam Research Corp. The country established a free-trade zone in Penang, provided tax incentives, and offered an affordable English-speaking labour force.

“The key thing is that Malaysia wants to have the best,” said Wong Siew Hai, President of Malaysia Semiconductor Industry Association. “To have that, we have to make sure that, number one, we stay neutral. Not aligned, without any constraints or hesitation, invite, attract and collaborate with any country.”

Much of Southeast Asia is trying to steer clear of picking sides in the US-China divide. The region is even courting Chinese companies affected by the US curbs on chip exports that have made the most advanced AI and memory chips increasingly inaccessible for developers in China.

Moving out of China could also allow companies to bypass origin-specific trade restrictions, further accelerating a bifurcation in the global supply chain.

“Trump’s escalation to target nationality of firms rather than their location could soon result in a world where there are two supply chains for many products – one for the US and other markets that penalise value addition in China, and another for the rest of the world,” said Jayant Menon, a senior fellow at the ISEAS-Yusof Ishak Institute.

“This is a highly inefficient outcome as the gains from scale economies will be compromised, leading to higher prices for all,” Menon said.

Inbound foreign investment in the long-standing electronics manufacturing hub of Penang has accelerated since 2019, nearly tripling from the decade before RM195bil (US$44bil).

Intel is close to completion on its first overseas facility for advanced 3D chip packaging as part of its US$7bil expansion plan. Lam Research’s 800,000-square-foot campus is set to become its largest in terms of capacity and processing capability.

“The most obvious place to see this difference is in Batu Kawan,” said Lee Lian Loo, the chief executive of Penang’s investment agency. The adjacent mainland, formerly home to lush rubber plantations, is now home to American data storage companies Western Digital Corp. and Micron Technology Inc. Its maiden industrial park is expanding.

The residential property market is also booming; it is now home to the only IKEA store in Malaysia’s northern region, and houses the nation’s largest outlet mall.

Previously home to low-value processes for less advanced chips, the nation is now hosting manufacturers for more advanced chips used in smartphones and AI servers.

Living standards and wages are rising, at least on paper. The state’s gross domestic product per capita has grown 38% since 2018.

The neighbouring and largely agricultural state of Kedah, less than an hour’s drive from the crowds of Penang island, is also an emerging home to factories. Infineon Technologies AG in August opened a €7bil (US$7.8bil) plant to churn out silicon carbide power-management chipsets there.

Malaysia has ample power, at one of the smallest price tags in Southeast Asia and a third of the rates for commercial electricity in Singapore.

This makes it an attractive destination — a ChatGPT request can require 10 times more power than a Google search, according to the International Energy Agency. To cope with the increasing power demands, some of the nation’s biggest palm oil producers such as SD Guthrie and IOI Corp. are turning swathes of plantations into large-scale solar plants.

“The people of Penang will benefit from high-skilled jobs created as well as improving infrastructure within the vicinity,” said Chow, Penang’s chief minister. “Moreover, our emphasis in this realm will also create multiplier effects across different sectors, including logistics, transportation, manufacturing, and services.”

But even as labour costs are significantly lower in Southeast Asia than in China, suppliers face challenges. Malaysia has pledged to train 60,000 engineers to fill the hundreds of thousands of new jobs that will emerge in the coming years. In northern Vietnam, many of the high-skilled workers are Chinese.

Ninh last year, when his manager asked him to help the circuits board firm in Dongguan — an electronics manufacturing hub in China — to set up a new plant in the Vietnamese province one-third the size of his home city.

His employer is one of many Chinese suppliers moving operations due to mounting pressure from their American customers, or to keep pace with supply-chain partners who are moving into Southeast Asia. The 27-year-old arrived in Bac Ninh to find himself surrounded by Chinese component makers, assemblers and logistics firms, earning it the moniker ‘Little Dongguan.’

With a rough count of 10,000 expats, China accounts for the largest proportion of foreigners living in Bac Ninh.

Meanwhile, Malaysia’s southernmost state Johor, with a capital that is walkable from neighbouring Singapore, is the next boomtown in the making.

Its western suburbs are quietly powering some of the world’s most sophisticated artificial intelligence models. Rows of vivid green palm trees laden with crimson fruit have given way to boxy concrete buildings, humming with tens of thousands of Nvidia Corp. GPUs. “We are building the backbone of a technology boom,” said Lee Ting Han, an executive council member in charge of investments in Johor.

Its emergence as a data centre market was triggered by Singapore’s temporary moratorium on new data centres at the turn of the decade, a move that was aimed at dealing with energy constraints. “Now Johor is seen as a market on its own and no longer the effects of Singapore’s spillover,” said datacenterhawk analyst Joelyn Chong.

Nvidia is partnering with a local conglomerate to create a US$4.3bil artificial intelligence cloud and supercomputer facility. Microsoft is investing US$2.2bil in cloud computing and AI services.

While a few thousand new jobs have emerged, officials say a bigger transformation is on its way. A Special Economic Zone under development with Singapore, which would be nearly twice the size of China’s Shenzhen, is expected to create 100,000 new jobs.

“We have an advantage in the sense of 50 years,” said Wong of the Malaysia Semiconductor Industry Association. “However we cannot be complacent.”

Source: The Star/Bloomberg

US-China tech war fuels Asia boomtowns built on AI, chips

Industry leaders, policymakers, innovators and consumers must work together to establish Malaysia as a regional hub for electric vehicle (EV) production and innovation, says Datuk Seri Fadillah Yusof.

The Deputy Prime Minister highlighted the importance of collaboration among all stakeholders to realise Malaysia’s potential as a regional EV hub.

“We are committed to building a sustainable future for the generations to come.

“By working together, we can position Malaysia as a leader in the global automotive landscape while driving economic growth and environmental sustainability,” he said in his speech at the opening of the Kuala Lumpur International Mobility Show (KLIMS) 2024 on Wednesday.

Also present was Transport Minister Anthony Loke.

Describing KLIMS 2024 as a significant platform to advance this vision, he said that bringing together stakeholders from across the globe will foster collaboration and lead to impactful solutions.

He also emphasised the substantial opportunities the mobility sector provides for local manufacturers and small and medium enterprises (SMEs).

“Malaysia has the potential to become a global supply chain hub by attracting high-quality investments and enhancing local capabilities.

“Our focus is on integrating local manufacturers and SMEs into global supply chains to drive economic growth and competitiveness,” he added.

He said transportation remains one of the largest contributors to greenhouse gas emissions, making the sector critical to Malaysia’s energy transition plan.

“Consumer adoption of EVs and hybrid vehicles will bring us closer to achieving our sustainability goals. Initiatives like KLIMS spark interest, collaboration and action,” he said.

Fadillah, who is also the Energy Transition and Water Transformation Minister, said Malaysia’s National Investment Aspirations aim to position the country as a global supply chain hub.

“This strategic initiative will not only strengthen our economy but also prepare Malaysia for a sustainable energy future as we take on the Asean chairmanship in 2025,” he said.

He also emphasised the importance of advancing technology supported by Budget 2025, which aligns with Malaysia’s goal of achieving net zero emissions by 2050.

“By integrating local industries into global supply chains and fostering innovation, we can achieve a greener, more prosperous future,” he said.

KLIMS 2024 chairman and Malaysian Automotive Association (MAA) president Mohd Samsor Mohd Zain said the event serves as a vital platform to connect local manufacturers with global industry leaders. This interaction, he said, facilitates valuable information exchange and fosters business collaborations, which are essential for advancing Malaysia’s automotive ambitions.

“Malaysia’s leadership in South-East Asia’s automotive industry is steadily gaining momentum, thanks to significant strides in technology, infrastructure development and government policy support for electrification,” Mohd Samsor said.

He added that the automotive sector remains a key driver of Malaysia’s economy, contributing 4% to the national gross domestic product annually and employing over 700,000 people.

“Total industry volume has increased from 200,000 units in 1994 to a record 799,731 units in 2023. This year, we are poised to surpass 800,000 units,” he said.

Despite its achievements, Mohd Samsor acknowledged the significant challenges ahead as the industry undergoes rapid transformation.

“MAA members will have to navigate stringent environmental regulations, electrification and digitalisation.

“We will work closely with the government to ensure a balance that sustains both the economy and the industry,” he said.

He also highlighted Malaysia’s exploration of transformative trends such as EVs, eco-friendly solutions, autonomous driving, smart infrastructure and sustainable innovations that are shaping the future of mobility.

“These advancements underscore the importance of government support and collaboration within the industry to ensure Malaysia remains competitive,” he added.

Organised by MAA and managed by Qube Integrated Malaysia Sdn Bhd, KLIMS 2024 provides a platform for innovation, business partnerships and technological advancement in the mobility sector.

Held from Dec 5 to 11 at the Malaysia International Trade and Exhibition Centre (Mitec), the event billed as Malaysia’s largest automotive industry showcase takes on the theme “Beyond Mobility”.

KLIMS 2024 features 70 exhibitors, nine new car launches, eight concept car displays, along with innovations from two- and three-wheelers, last-mile mobility solutions, and advanced autonomous driving technologies.

Source: The Star

Fadillah: Let’s make Malaysia the regional hub for EVs