Malaysia urges local firms to boost component output to curb imports

At the Industry Excellence Awards in Kuala Lumpur, Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani warned that Malaysia's growing import bill could be curbed if local firms, especially SMEs, produced more components for foreign investors. He noted a 34% rise in exports versus a 25% increase in imports over the first nine months, and argued that sourcing 3-4 of the 10 component types needed by investors locally would shrink import demand.

Johari emphasized that such a shift would expand the trade surplus and called on companies to identify needed parts, boost research and development, and align with the New Industrial Master Plan 2030's focus on innovation and automation. He also stressed that stronger domestic manufacturing would create skilled jobs and raise living standards. Prime Minister Datuk Seri Anwar Ibrahim and Deputy Minister Sim Tze Tzin were present at the ceremony.