Miti woos more German investors

KUALA LUMPUR: The Minister of International Trade and Industry (Miti) is inviting more business from German investors, citing opportunities in additive manufacturing and other services such as industrial data, cloud based and cyber security services. For 2016 alone, the Malaysian Investment Development Authority (Mida) approved a total of 21 manufacturing projects with German participation with investments worth RM2.65 billion and are expected to generate about 3,250 job opportunities.
"We are also encouraging more domestic players to work with German technology providers and experts, as this will contribute to the development of local industries towards a sustainable ecosystem in the country," Datuk Seri Mustapa Mohamed, Minister of International Trade and Industry, said in a statement.
In recognising the importance of Industry 4.0, Miti and Mida are "aggressively leveraging" on the presence of German investors who already possess a strong foothold in the smart manufacturing or Industry 4.0 technologies.
He said German investments are strong in the local manufacturing sector, with sustained quality inflows of investments, and some investors incorporating the latest technology and high value added activities, especially in the electrical and electronics, petroleum products including petrochemicals, chemicals, and scientific and measuring equipment sectors, reflecting Malaysia's competitiveness in global businesses.
To boost adoption of smart manufacturing in Malaysia, Mida has developed an internship programme called the 'Malaysian Engineers – Made in Germany', in which 18 German companies such as B. Braun, SGL Carbon, BMW, Infineon, Muehlbauer and Schmidt & Clemens, will offer annual internships to Malaysian students.