Malaysia Sets Its Eyes On Medical Devices Manufacturing Market
Apart from semiconductors, Malaysia extended its ambition to medical devices. At least, for Plexus, an electronic manufacturing services provider, has broken ground for its sixth manufacturing manufacturing facility in Penang, Malaysia, Bernama reported.
Source: Bernama
Tengku Datuk Seri Zafrul Abdual Aziz, Malaysia’s Investment, Trade and Industry Minister, said the global medical devices industry is projected to grow to US$887 billion by 2032 from US$542 billion projected for this year.
“Malaysia has a solid foundation, thriving ecosystem and strong political will to engineer the rapid growth of our manufacturing industry by engaging key stakeholders, particularly industry members. The nation can be a manufacturing hub for medical device enabling global brands to serve the 670 million population ASEAN market, or even the 4.7 billion population Asian market.”
He added the groundbreaking ceremony is another step towards bringing New Industrial Master Plan 2030’s (NIMP2030) action plans to life — noting Plexus’ focus on Semiconductor Capital Equipment, as well as the Healthcare and Life Science sector, aligns with the priority sectors under NIMP2030.
“This will create a strong manufacturing ecosystem driven by dynamic partnerships between leading global companies and Malaysian firms, powered by world-class talents. This is what makes Malaysia an Asia’s manufacturing and services hub,” he added.
Victor Tan, Plexus’ Regional President said the new facility demonstrates Plexus’ commitment to regional growth and provides a strong opportunity to meet the growing customers’ needs. The state-of-the-art facility spanning 8.09 hectares will encompass cutting-edge infrastructure with an estimated investment value of RM1 billion over the next three years.
This initiative will also create some 1,800 employment opportunities, on top of its 10,000 member workforce.
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