Malaysia, Singapore need robust financial ecosystem to unlock joint industrial platform
KUALA LUMPUR: Malaysia and Singapore need a robust financial ecosystem with next-generation technologies to unlock a powerful joint industrial platform, said Deputy Minister of Investment, Trade and Industry (MITI) Liew Chin Tong.
He said the two countries are uniquely positioned, with manufacturing still accounting for more than 20 per cent of gross domestic product (GDP).
'It encompasses new materials such as silicon carbide and gallium nitride, new chip architectures, and emerging fields including artificial intelligence and quantum computing.
'To support these advancements, we need a robust financial ecosystem, one where regulatory bodies like the Securities Commission are aligned with technological and industrial priorities,' he said in his keynote speech at the Malaysia-Singapore Chinese Chambers of Commerce Business Forum today.
Liew noted that Singapore retains a significant manufacturing base, while Malaysia offers complementary capabilities.
'We should aspire to build our own ecosystem, born out of a Malaysia–Singapore partnership.
'Together, we can serve as a mini South Korea in the global supply chain, adding value far beyond our geographic size,' he added.
Liew also commended the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and the Singapore Chinese Chamber of Commerce and Industry (SCCCI) for bringing the two nations closer together.
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