“Empowering Local Players: Strategies for Boosting Medical Device Manufacturing and Export in Malaysia”

The Minister of Entrepreneur and Cooperatives Development, YB Datuk Ewon Benedick hosted Dialogue with The Key Industry players on 15 January 2024. YB Minister was accompanied by his Deputy Minister, Madam Chief Secretary, Chairman & CEO of SMECorp.

PERANTIM relayed the following feedbacks and concerns:

  1. There must be more efforts to develop more local players in medical device manufacturing & exporting. Last year when tabling the budget, PMX announced the highest ever KKM allocation for 2024 at RM41.2Billion. There are huge opportunities to create initiatives for local industry enhancement and development. We should emulate Bapak President Joko Widodo direction in 2022 after announcing USD140Billion KKM budget : “Jika bisa di fabrikasi di sini, kami tidak akan import”.
  2. The barrier to entry is getting higher and cost escalation in maintaining certifications and audits are almost prohibitive. Export to Europe is currently dampened by increase in insurances and logistics costs due to war, weakened ringgit and competition. There must be a well concerted & structured effort by both government and industry to manage & combat these.
  3. The govt is signing record numbers of FTAs. The industry is in total support as this will help expedite the market expansion and boost opportunities. Nonetheless many are concerned and some are still in the dark of the how the reciprocal part of these FTAs work. We are hoping not to be short-changed in the name of market liberalisation.
  4. When there are problems, there lies opportunities.
    -The new Ibu Kota Negara Nusantara Indonesia pose logistical advantage to Borneo Meddev manufacturers and exporters
    -There is dire need to develop Malaysian very own audit establishment sanctioned by EU. This will expedite audit process and lower the cost. The cream is at the opportunity to develop local talents for international auditing.

    #perantim
    #kuskop
    #smecorp
    #meddevissues

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