Kedah identifies recession proof industries

GURUN: Kedah has identified several industries to tap in an attempt to ride out the current global economic uncertainty.
Mentri Besar Datuk Seri Mukhriz Mahathir said the industries his administration was looking at included medical devices, halal food and the aerospace sector.
He described the medical devices sector as one which was "recession proof", pointing out such equipment was needed in goods times and bad.
Mukhriz said there was a huge halal food market which could be tapped and not be affected by oil prices, and was told there could be an increase in aircraft orders due to the present decline in oil prices.
"We are working with the Ministry of International Trade and Industry and the Malaysian Investment Development Authority on this," he told a press conference after attending the opening of the second plant for Go Automobile Manufacturing Sdn Bhd (GoAuto) at the industrial park here today.
Mukhriz said his administration would not review its budget for 2015, after Putrajaya did so in light of falling commodity prices, because Kedah did not derive revenue from oil and gas and believed the present economic conditions presented an opportunity to expand.
"Countries which consume oil, like China, Japan and South Korea, will increase their manufacturing in times like these," he said, adding it was important to introduce policies that benefit from increased economic activity.
On the proposed Kulim International Airport, Mukhriz said the state was still waiting for approval from the federal government and was now exploring options to fund the RM1.6 billion two-runway facility.
"We nonetheless welcome any federal funds which can be allocated for this," he added.