Malaysia Electrical and Electronics sector attracts RM16.6billion in investments (USD$4.88 Billion)
posted by Glen Stidolph in Malaysia |
Malaysia continues to draw substantial investments into the electrical and electronics sector, approving some RM16.6 billion (USD$4.88 Billion) in the last 12 months with foreign direct investments (FDI) contributing 91.6 % of the total, the Malaysia Minister of International Trade and Industry, Datuk Seri Rafidah Aziz said, at the opening of the KL International AV Sho qw 2007 in Kuala Lumpur.
Some 41,023 employment opportunities were also created through these investments.
Approval statistics for the period June 2006 to June 2007 in the consumer electronics sub sector, show a marked trend for companies in this sector to move into higher value-added products such as digital audio video equipment, multimedia speakers, set top boxes and Thin Film Transistor/Plasma TV sets, and home theater systems instead of products like video cassette recorders, television and speaker boxes.
Malaysian-owned companies, with the support from global electronics players, have also developed over the years to become successful outsourcing partners for these multinational companies such as Philips, JVC, Samsung, Hitachi, Daewoo and LG.
The exports of audio-visual products for the first five months of 2007 were RM5.73 billion (USD$1.7 Billion) and these are expected to increase, given the consumers’ interest in products like video games, digital music, flat screen displays and hand-held digitals. Last year exports amounted to RM19.1 billion. (USD$5.62 Billion)
