Malaysia to curb cheap imports to protect local manufacturers, says minister

During a parliamentary session, Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani announced a government review aimed at reducing dependence on inexpensive foreign goods that are squeezing Malaysian manufacturers. He highlighted a RM146 billion trade deficit with China last year, contrasted with a RM100 billion surplus with the United States, and noted that many products previously produced locally are now imported, leading some firms to scale back.

Johari warned that unchecked cheap imports could undermine domestic industry and ultimately raise prices for consumers. The ministry has held multiple engagements with local companies to explore protective actions and to encourage SMEs to produce raw materials and semi-finished goods domestically. He also cited strong export performance in electrical and electronics, but stressed the need for diversification under the New Industrial Master Plan 2030 and the National Semiconductor Strategy.