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Barnama
14 hours ago
- Business
- Barnama
Pharma Industry Emerging As Driver Of Investments, Jobs, And Healthcare Resilience -- MPC
BUSINESS KUALA LUMPUR, June 30 (Bernama) -- Malaysia's pharmaceutical industry is emerging as a driver of high-value investment, skilled employment, and healthcare resilience, driven by regulatory and productivity reforms implemented in recent years, according to the Malaysia Productivity Corporation (MPC). MPC said these efforts have also supported Malaysia's climb to 23rd place in the 2025 International Institute for Management Development (IMD) World Competitiveness Ranking, the country's highest position in over a decade. 'Under the MPC, the Pharmaceutical Productivity Nexus (PPN) has driven structural changes that translate directly into economic value by streamlining product registration processes, aligning technical requirements across agencies, and reducing regulatory bottlenecks,' it said in a statement today. According to the MPC, two new pharmaceutical facilities have progressed to the development stage, unlocking investments and creating skilled employment opportunities, while two additional facilities are moving forward more rapidly under the streamlined processes. MPC director general Datuk Zahid Ismail said the sector's transformation provides a blueprint for national economic renewal. 'Every bottleneck removed is an opportunity unlocked, whether it's faster factory approvals, increased export readiness, or local production of critical medicines,' he added. The president of the Malaysian Organisation of Pharmaceutical Industries (MOPI) and PPN representative, Ch'ng Kien Peng, said the pharmaceutical sector's gains reflect what is possible when productivity reforms are targeted, data-driven, and collaborative. 'These wins go beyond industry metrics. They mean better access to affordable medicines, more quality jobs for Malaysians, and increased resilience in our healthcare supply chain,' he said. The MPC also stated that the sector's progress aligns with the objectives of the 12th Malaysia Plan, the New Industrial Master Plan 2030, and the National Energy Transition Roadmap by supporting economic growth and localised production of essential medicines while integrating environmental sustainability practices in facility operations. It added that continued investment in automation, digitalisation, and skills development by industry players will help sustain these gains, while support from the government in advancing mutual recognition agreements and inter-agency frameworks remains important to maintain momentum in the sector. --BERNAMA
New Straits Times
14 hours ago
- Business
- New Straits Times
Malaysia no longer just competing but leading: Industry chief
KUALA LUMPUR: Malaysia's rise in the IMD World Competitiveness Ranking 2025 reflects the tangible outcomes of strategic and productivity-driven reforms, with the pharmaceutical sector emerging as a standout contributor to the success. Pharmaceutical Productivity Nexus (PPN) champion and Malaysian Organisation of Pharmaceutical Industries president Ch'ng Kien Peng said Malaysia is no longer just competing but leading. Ch'ng said the pharmaceutical sector's gains reflect what is possible when productivity reforms are targeted, data-driven and collaborative. "These wins go beyond industry metrics; they mean better access to affordable medicines, more quality jobs for Malaysians, and increased resilience in our healthcare supply chain," he said in a statement. Under Malaysia Productivity Corporation (MPC), the PPN has driven structural changes that translate directly into economic value. These include streamlining product registration processes, aligning technical requirements across agencies and reducing regulatory bottlenecks. As a result, the corporation said two new pharmaceutical facilities have successfully moved to development, unlocking millions in investment and new job opportunities. "Two additional facilities are progressing more rapidly, thanks to reduced duplication and stronger agency coordination. "Approval timelines have been shortened, giving Malaysian firms a competitive edge in time-to-market," it said. MPC director general Datuk Zahid Ismail said the sector's transformation offers a blueprint for national economic renewal. "Every bottleneck removed is an opportunity unlocked whether it's faster factory approvals, increased export readiness, or local production of critical medicines. "This is productivity with purpose, and its effects are measurable," said Zahid. To sustain and scale these results, MPC urged the industry to continue investing in automation, digitalisation and skills development. In addition, the government should accelerate mutual recognition agreements, innovation incentives and seamless inter-agency frameworks, it said.
