Investment, trade and industry minister Tengku Datuk Seri Zafrul Abdul Aziz explains why Malaysia had not moved up the value chain earlier, when the manufacturing sector had been developing in the country for over 50 years.
Category
🗞
NewsTranscript
00:00 So I asked that question, I said, "How do we move it?
00:03 "And why didn't we do it earlier?"
00:05 I said, "Of course, one is they're comfortable,
00:09 "they're building up, and secondly,
00:11 "they are saying that if you look at this industry,
00:15 "it requires a lot of fiscal support.
00:18 "And secondly is, I think we needed the ecosystem
00:21 "to be in place, and to be fair,
00:23 "it has to be a step-by-step approach.
00:25 "You cannot just jump to there."
00:27 So then, because of our strategic location
00:31 in the global supply chain,
00:33 where there is a realignment of supply chain on this sector,
00:38 we then leverage of, this is our chance,
00:43 and last time, everybody goes to China.
00:45 So we also missed it, to be fair.
00:49 We couldn't fight, and then they all went,
00:51 "Oh, the big wafer, it's there."
00:53 So now, the chance to come down.
00:56 And then, finally, I think this sector,
01:00 we were focusing a lot on oil and gas,
01:07 chemical, we look at the chemical,
01:08 we look at the (speaks in foreign language)
01:10 and then the (speaks in foreign language)
01:12 You see how much investments that we put.
01:13 We didn't put any on the, you notice, we don't, right?
01:17 It was really private sector driven,
01:19 and there's so much that private sector driven can do
01:21 without the government push.
01:23 It still needs to push the hard.
01:26 (laughs)
01:28 [BLANK_AUDIO]