Malaysia E & E Sector must be innovative said MITI minister

The need of innovative is a must in the era of competiveness.
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KUALA LUMPUR, Sept 17 (Bernama) -- International Trade and Industry Minister Datuk Seri Mustapa Mohamed has urged Malaysian electrical and electronics (E&E) companies to move up the value chain and focus more on high technology and value added products.

He said to stay competitive in the E&E business, local companies should undertake more research and development and be more innovative.

"The government will continue to focus on creating the conditions, the enabling environment, in which the private sector can thrive," he said in a speech released ahead of Khind Holdings Bhd's 50th Anniversary Gala Dinner in Bandar Sunway Saturday night.

Mustapa also said Malaysia remained an attractive offshore location for foreign investors.

In the E&E sector, foreign investments continued to exceed domestic investments, in the ratio of RM6.4 billion to RM1.5 billion.

"But it is the government's expectation that domestic investments will progressively contribute to a larger proportion of total investments in the country in the years to come," he said.

Mustapa said with Malaysia had been ranked the 21st most competitive country in the world by the World Economic Forum based in Switzerland, it showed that the Government Transformation Programme (GTP) and Economic Transformation Programme (ETP) were beginning to have an impact on the ground.

"The government's delivery system has improved, we are becoming more efficient, and the cost of doing business is coming down," he added.


Source: Bernama