Malaysian national flag flutters at a construction site on the main road near the Kuala Lumpur city center in Kuala Lumpur, Malaysia on Oct 15, 2021. (VINCENT THIAN / AP)
KUALA LUMPUR – Malaysia will work towards ensuring that trade remains a key growth driver as the Southeast Asian country seeks to boost its economic performance, a Malaysian official said in Kuala Lumpur on Sunday.
Besides a focus on trade, moves will be made to increase investor confidence and ensure the implementation of international trade agreements to be of real value and advantage to participants in the Malaysian supply chain, particularly the micro, small and medium enterprises, International Trade and Industry Minister Tengku Zafrul Tengku Abdul Aziz said in a statement.
Malaysia's International Trade and Industry Minister Tengku Zafrul Tengku Abdul Aziz also proposed the creation of a special investment fund to attract more high-value-added investments that will generate higher-paid professional employment opportunities
He also proposed the creation of a special investment fund to attract more high-value-added investments that will generate higher-paid professional employment opportunities.
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"The target industries include the E&E (electrical and electronic products) industry which includes the development of applications based on radio frequency and bluetooth technology for the automotive industry, attracting investors to Malaysia's E&E sector, and the systematic development of the medical devices industry," he said.
Other technology-based industries that will be focused on include the aerospace industry, the chemical and petrochemical industry, nanotechnology, health technology, and smart manufacturing.
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"These efforts will be matched with human capital development measures that will contribute to the restructuring of Malaysia's trade ecosystem in the medium and long term," he added.