Malaysia, along with ASEAN, is benefiting significantly from supply chain realignment due to escalating US-China tensions, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. He noted that businesses are increasingly seeking neutral supply chain bases, leading to a 60% rise in approved investments to RM71.4 billion in early 2023. While Malaysia and Indonesia are top destinations for firms looking to enter Southeast Asia, the minister cautioned that China's economic slowdown may impact Malaysia's trade. To address this, Malaysia has introduced a RM95 billion plan to transform its manufacturing sector over seven years.ZAFRUL: ASEAN ‘BIGGEST BENEFICIARY’ OF SUPPLY CHAIN REALIGNMENT
Malaysia, along with ASEAN, is benefiting significantly from supply chain realignment due to escalating US-China tensions, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. He noted that businesses are increasingly seeking neutral supply chain bases, leading to a 60% rise in approved investments to RM71.4 billion in early 2023. While Malaysia and Indonesia are top destinations for firms looking to enter Southeast Asia, the minister cautioned that China's economic slowdown may impact Malaysia's trade. To address this, Malaysia has introduced a RM95 billion plan to transform its manufacturing sector over seven years.
