Malaysia is capitalising on the permanent reorientation of the global supply chain following the US-China trade war by upping competitiveness to attract new high-quality investments, especially those concerning Industry 4.0, said Finance Minister Lim Guan Eng.
This focus will enable the country to take advantage of the next global growth upswing when the time comes, he said.
He said at present, Malaysia is already among the top countries benefiting from business relocation as well as trade and investment diversion arising from the US-China trade war. Lim said this can be seen from the first-quarter 2019 approved foreign direct investment (FDI) that jumped 73.4 per cent to RM29.3bn from RM16.9bn a year earlier. In addition, approved manufacturing FDI surged 127 per cent to RM20.2bn from RM8.9bn previously.