KUALA LUMPUR: The machinery and equipment (M&E) industry had 12 manufacturing projects approved with investments amounting to RM69.2 million during January-March.
Deputy International Trade and Industry Minister Datuk Jacob Dungau Sagan said on Thursday, May 5 that of the total, RM14.2 million were from foreign investors while RM55 million from local players.
"This reflects the continued confidence by foreign investors over the long-term potential growth of the industry," he said when opening the MTA Malaysia 2011 and Metaltech Malaysia 2011 exhibitions here.
During the same period, he said exports of M&E products rose 8.2 per cent to RM3.4 billion.
Heating and cooling equipment and parts were the major export components of M&E products which accounted for 26 per cent of total exports or RM890 million.
Jacob said the M&E industry was a cross-cutting link sector for high TECHNOLOGY [] industries, thus the emphasis for growth was on high value added and high technology M&E to provide support and services for the sectors identified under the National Key Economic Activities (NKEAs).
"This intends to shift our reliance from semi-skilled and low cost labour to one that hinges on advanced manufacturing, high technology and a modern services sector and also employing highly skilled talent," he added.
Among the 12 NKEAs, the M&E industry is involved in the oil and gas and energy, aerospace, electrical and electronics, and ICT industries. - Reuters
Deputy International Trade and Industry Minister Datuk Jacob Dungau Sagan said on Thursday, May 5 that of the total, RM14.2 million were from foreign investors while RM55 million from local players.
"This reflects the continued confidence by foreign investors over the long-term potential growth of the industry," he said when opening the MTA Malaysia 2011 and Metaltech Malaysia 2011 exhibitions here.
During the same period, he said exports of M&E products rose 8.2 per cent to RM3.4 billion.
Heating and cooling equipment and parts were the major export components of M&E products which accounted for 26 per cent of total exports or RM890 million.
Jacob said the M&E industry was a cross-cutting link sector for high TECHNOLOGY [] industries, thus the emphasis for growth was on high value added and high technology M&E to provide support and services for the sectors identified under the National Key Economic Activities (NKEAs).
"This intends to shift our reliance from semi-skilled and low cost labour to one that hinges on advanced manufacturing, high technology and a modern services sector and also employing highly skilled talent," he added.
Among the 12 NKEAs, the M&E industry is involved in the oil and gas and energy, aerospace, electrical and electronics, and ICT industries. - Reuters
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