UNDERGOING TRANSFORMATION: Malaysia’s medical devices industry is now undergoing a transformation in line with the government’s plan to make it among the key catalyst for the country’s economic growth.
GEORGE TOWN: Malaysia’s medical devices industry is now undergoing a transformation in line with the government’s plan to make it among the key catalyst for the country’s economic growth.
Placed under the health sector which is among the 12 National Key Economic Areas (NKEAs), the Malaysian Investment Development Authority (Mida), is working to change the investment trend which is now more focused towards the manufacture of gloves.
“At present, the glove manufacture segment, covers more than 50 per cent of the overall total of medical devices production in Malaysia,” said Mida director of Life Science Industry Division, Jaswant Singh.
He was speaking to reporters after a recent visit to a number of factories manufacturing medical devices in Penang and organised by Mida.
“The change in investment trend is needed to ensure the medical sector in Malaysia has a high value-add, in line with the vision of making the country a high income nation by 2020,” he added.
According to Jaswant, trade in the medical devices manufacturing industry from January-September this year stood at RM9.7 billion compared to RM11.7 billion for the whole of 2011.
Meanwhile, from the aspect of investment, the industry recorded RM172 million from January-September in contrast to the RM735.2 million for 2011. He said in terms of investment value, it was small compared to other sectors.
“But in fact, the investment value is not what is important to this sector for us. We are looking from the point of the value-add which can be generated through it,” he added.
He said as this industry needs high human capital expertise, it indirectly opens up opportunities for graduates in Malaysia, to obtain jobs matching their qualification.
“ The country can also reduce its dependence on foreign labour and jobs in this industry will also offer attractive salaries,” he added.
To date, a total of 190 companies have invested in the medical devices industry with 25 being multinationals. — Bernama