More Room For Collaboration Between MNCs And SMEs

KUALA LUMPUR, Dec 15 (Bernama) -- There is more room for collaboration between Multinational Companies (MNCs) and Small and Medium Enterprises (SMEs), said Minister of International Trade and Industry Mustapa Mohamed. He said Malaysia offered strong value propositions such as first world infrastructure, good connectivity, strategic location within ASEAN and attractive investment incentive packages, for MNCs to set up operations in the country. "To date, more than 8,000 companies, including MNCs from over 40 countries have made Malaysia as their offshore location for manufacturing and related services operation. "These MNCs have contributed much to the development of our economy in terms of output growth, exports and employment growth," he told reporters after launching the MNCs and SMEs Supply Chain Development and Opportunities conference here Thursday. Earlier in speech, he said some MNCs had employed as many as 20,000 workers and a good number were 100 per cent export-oriented. "Foreign MNCs have also played an important role in the growth of local supporting industries. They continuously look at sourcing from local vendors to improve competitiveness. "We welcome such MNCs which not only continue to invest here, but, also in quality projects, incorporating the latest technology in high value-added activities," Mustapa said. Meanwhile, Malaysian Investment Development Authority (Mida) Chief Executive Officer Azman Mahmud said despite the intense global competition for foreign direct investments, Malaysia still had what it takes to entice foreign investments and the country remained a profit centre in Asia. "We still have local and foreign investments worth over US$6.71 billion (RM30 billion) in the various sectors such as electric and electronic, chemicals and services in the pipeline. (US$1 = RM4.46) "With the aggressive promotion, conducive business environment and the seriousness of government to help boost supply chain activities, we hope to maintain the current momentum going forward," Mustapa said. -- BERNAMA