Latest news with #Matrade
The Sun
2 days ago
- Business
- The Sun
Malaysia positioning itself to become Asean healthcare innovation and trade hub
KUALA LUMPUR: Malaysia is sharpening its focus on becoming a regional hub for healthcare innovation and trade, as its medical-related exports continue to climb and strategic opportunities in Asean expand. Malaysia External Trade Development Corporation (Matrade) deputy CEO (export acceleration) Mansor Shah Wahid shared Malaysia's progress in healthcare-related exports, stating that in 2024 alone, the country's trade in medical devices and pharmaceuticals hit RM61.31 billion. He noted that medical devices made up 76% of that value, with a 31.6% year-on-year growth, while pharmaceutical exports rose by 4% to RM3.04 billion. 'These figures are not just data points; they reflect the credibility of our regulatory system, the strength of our manufacturers, and the growing trust in made-in-Malaysia products,' Mansor said at the Malaysia Healthcare Day Forum, part of the International Healthcare Week 2025 held recently. He added that Malaysia's export destinations now stretch beyond Asean, with the United States, Germany, Japan and Australia emerging as top markets. Notably, eight of the world's top 30 medical device manufacturers operate in Malaysia, affirming the country's reputation in diagnostics, disposables and implantables. Mansor emphasised that Malaysia's strategic location in the 680-million-strong Asean market, along with its multilingual talent pool and trade agreements, positions it well to capture a larger share of the global medical devices market, which is projected to reach US$695.6 billion (RM2.95 trillion) by 2028. 'In the age of AI disruption, healthcare remains one of the few sectors where human care and judgment are irreplaceable. That's what makes this industry uniquely impactful,' he noted. Expanding on Malaysia's regional positioning, Abdul Halim Mohamed Shariff, deputy director of lifestyle and life sciences at Matrade, delivered a detailed presentation titled 'Malaysia Healthcare Trade Outlook: Trade Opportunities in Asean.' He highlighted that Asean is now the third-largest region globally by population and the fourth-largest in terms of trade volume, creating a highly lucrative landscape for healthcare expansion. 'When incomes rise, healthcare demand grows, not just in quantity but in complexity. This shift is being felt across Asean, especially in Indonesia, Vietnam, Thailand and the Philippines,' Halim said. He cited the rapid urbanisation and lifestyle changes across the region as key factors driving increased healthcare expenditure. Countries like Indonesia, with the highest population in Southeast Asia, and Singapore, with the highest per capita healthcare spending, are leading indicators of the sector's growth. Despite strong exports, Malaysia remains a significant importer of pharmaceutical products, particularly patented and specialty drugs, from Germany, the US and China. Nonetheless, the local pharmaceutical sector fulfils 70% to 80% of domestic demand for generic medications, and the government expects the local pharmaceutical market to reach US$3.5 billion by 2028. According to Halim, prescription drugs dominate the market and are forecasted to reach US$3 billion by 2028, with patented and generic drugs each contributing over US$1.4 billion. Over-the-counter (OTC) products round out the remaining market share. Malaysia's medical device exports remain its most significant healthcare segment, driven largely by the glove industry and supported by other products, such as catheters and electromedical equipment. In 2024, Malaysia's medical device exports reached US$8.7 billion, solidifying its position among the top five manufacturing sites globally, alongside countries such as Costa Rica and Puerto Rico. 'Malaysia is spending more per capita on medical equipment than several larger economies in the region. This shows our strong commitment to innovation and accessibility in medical technology,' said Halim. He added that spending on medical devices and equipment in Malaysia is expected to increase at a compound annual growth rate of 9.5%, reaching US$3.64 billion by 2028, surpassing regional counterparts in growth momentum. Countries such as Vietnam and Indonesia are also becoming increasingly attractive due to economic development and healthcare reforms. Halim cited Vietnam's accelerated urbanisation as a sign of shifting healthcare expectations and rising demand for better services and infrastructure. 'Every challenge, whether it's ageing populations, financing gaps, or healthcare reform, opens the door to new business models. We're seeing strong growth in healthtech, AI-driven diagnostics, and insurance solutions across Asean,' he said. Mansor and Halim reiterated Matrade's role as a bridge for international buyers and Malaysian exporters, with overseas offices and databases accessible to businesses seeking partners, market data, or regulatory guidance. Matrade's presence at major international expos will continue to anchor Malaysia's brand globally. At the same time, initiatives such as the eTrade Programme and Business Information Centre aim to provide exporters and foreign partners with the tools to navigate cross-border opportunities. 'We encourage foreign players to reach out to our offices worldwide. You could browse the internet, yes, but we offer more than just information. We connect you with vetted partners and real market opportunities,' said Halim. International Healthcare Week 2025, co-organised with Informa Markets, is a testament to Malaysia's ambitions. From showcasing 10 home-grown brands at the Malaysian Pavilion to convening key regulatory and investment bodies, the event reflects a unified effort to position Malaysia as a regional leader in healthcare trade. 'Malaysia is not just an entry point, it's a launchpad for the Asean region,' said Mansor. 'Let us not miss the opportunity to form partnerships that shape lives and businesses far beyond our borders.'
The Star
3 days ago
- Business
- The Star
M'sia courts global healthcare investors
KUALA LUMPUR: Malaysia is well positioned to tap into the high growth of the global healthcare sector due to Putrajaya's strong industrial reform agenda, robust industrial ecosystem, progressive policies and investor-friendly environment, said Tengku Datuk Seri Zafrul Abdul Aziz. The Investment, Trade and Industry Minister (Miti) said that from pharmaceuticals and medical devices to healthcare services and medical tourism, the healthcare sector is a catalyst for high-value job creation, innovation and exports. According to Tengku Zafrul, the medical devices market is projected to grow by 63% from RM2.53 trillion in 2024 to RM4.13 trillion by 2032. 'The global healthcare sector has proven to be not only resilient but also transformative, offering immense opportunities in medical devices, pharmaceuticals, biotechnology and digital health solutions,' he said in his opening remarks at the three-day International Healthcare Week 2025 (IHW 2025), which began here yesterday. 'Thanks to our strong industrial reform agenda, robust industrial ecosystem, progressive policies, investor-friendly environment and a skilled, industry-ready workforce, Malaysia's healthcare industry is well-positioned to capture this growth.' Tengku Zafrul also said that last year alone, the medical devices and pharmaceutical industries garnered RM2.13bil in combined investments, creating over 2,700 high-value jobs across manufacturing, research and development, and regulatory services. 'Today, eight of the world's top 30 medical device companies have established operations in Malaysia,' he said, adding that Malaysia is home to over 300 healthcare companies. Tengku Zafrul said that from January to May this year, pharmaceutical exports have increased by 7.8%. 'This is also due to our industrial reform initiatives. Reform builds industrial resilience, which in turn feeds our exports' resilience,' he noted. On the IHW, Tengku Zafrul said it is not just a healthcare event but also a platform to bring together global thought leaders, innovators, policymakers and investors to shape the future of South-East Asia's healthcare sector. 'I feel that the IHW 2025 represents more than an exhibition – it is a call to action to strengthen collaboration, accelerate innovation and ensure that our healthcare systems remain inclusive, sustainable and future-ready. 'I'm proud that Malaysia is playing host to this global gathering and I am confident that over the course of the next few days, this platform will generate meaningful dialogue, strategic partnerships and tangible business outcomes that benefit all participants,' added Tengku Zafrul. Malaysia External Trade Development Corp (Matrade) chairman Datuk Seri Reezal Merican Naina Merican said Malaysia needs to capitalise on its ever-growing healthcare industry to counteract uncertainties in global trade. He said this was due to incredible growth in the nation's medical device sector, which spiked by 27.7% to RM46.5bil in trade value last year, with exports increasing by 31.6%. 'Malaysia will need to develop a national strategic roadmap for the healthcare industry going forward,' Reezal Merican said. 'We have evolved from producing basic medical supplies to manufacturing sophisticated healthcare technologies, and are now being recognised as one of the top destinations for healthcare travellers. 'This roadmap will be our blueprint for us to solidify Malaysia's position as a global leader in healthcare. 'This is key because as more challenges in the global trade and economy appear, we need to be able to navigate with agile approaches to international trade dynamics, and evolving global relationships,' he said during his speech at the event. Held in Kuala Lumpur for the second time, the IHW 2025 is showcasing over 900 exhibitors from key healthcare industries from medical devices to pharmaceuticals, and is expected to draw over 21,000 visitors from now to tomorrow. Among the notable conferences that will take place at the event are the Conference of Pharmaceutical Ingredients South East Asia and World Health Expo KL.
The Star
5 days ago
- Business
- The Star
Matrade records RM120mil in trade prospects from Korea Import Fair debut
Matrade chief executive officer Datuk Mohd Mustafa Abdul Aziz. KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) recorded over RM120mil in sales at the Korea Import Fair (KIF) 2025, held from 7 to 9 July at COEX, Seoul. This was Malaysia's first participation in the event. In a statement, Matrade said the Malaysia Pavilion featured 12 companies and one government agency, making it the largest national pavilion at the fair. Malaysia's participation was larger than that of Indonesia, Thailand and Vietnam. Building on this momentum, Matrade carried out promotional activities such as business matching, digital marketing, live streams with local influencers, and media outreach to raise Malaysia's profile and engage Korean buyers. Matrade said these initiatives led to trade prospects exceeding RM120mil, more than double the RM60mil target. It noted that Korean buyers showed strong interest in Malaysian jewellery, footwear, ICT services, apparel, tropical fruits, and food and beverages, reflecting growing demand for Malaysian products in the market. Matrade chief executive officer Datuk Mohd Mustafa Abdul Aziz said the participation in KIF 2025 is part of the agency's broader strategy to unlock export opportunities through targeted international engagement. He said the encouraging outcomes from this event reaffirmed the importance of strategic partnerships, focused promotional efforts and tailored business matching in creating new avenues for Malaysian exporters. Mohd Mustafa also highlighted that Matrade's participation in KIF aligns with Malaysia's long-term vision of strengthening regional connectivity and expanding market access in Northeast Asia.
The Star
02-07-2025
- Business
- The Star
Strengthening Sarawak's export ecosystem
Key dignitaries were among the nearly 300 entrepreneurs and industry players who gathered for Sarawak Export Day 2025 in Kuching. KUALA LUMPUR: The Sarawak Export Day 2025, held at the Imperial Hotel Kuching, concluded with the participation of nearly 300 entrepreneurs and industry players from across the state, reflecting the government's strong commitment to advancing the state's export agenda. This programme was jointly organised by the Malaysia External Trade Development Corporation (Matrade) and the Sarawak state government through its International Trade, Industry and Investment Ministry (Mintred). The event also received support from strategic partners such as Invest Sarawak Sdn Bhd, Exim Bank and Capital Markets Malaysia. Sarawak Export Day is part of Matrade's ongoing initiative to raise awareness and build the export capabilities of local companies, particularly micro, small and medium enterprises (MSMEs) in the state, to penetrate international markets. The official launch was officiated by the Sarawak Deputy Premier and Mintred Minister Datuk Amar Awang Tengah Ali Hasan. Also in attendance were Matrade chairman Datuk Seri Reezal Merican Naina Merican and Matrade board member Datuk Mohammad Medan Abdullah. In conjunction with the programme, two local companies were recognised under Matrade's programme with the Sarawak Best Exporter Award. Iana Corporation Sdn Bhd, a producer of Sarawak layer cakes and biscuits, was awarded Best Exporter in the MSME Category, while Tuong Aik Shipyard Sdn Bhd, a shipbuilding and repair engineering company, received the award in the Mid-Tier Company (MTC) Category. 'Sarawak has high export potential. We are seeing increased participation by companies in Matrade's export development programmes and this must continue to ensure more entrepreneurs in the state can compete globally,' said Reezal Merican. According to Reezal Merican, the organisation of such programmes reflects the Federal Government's strong commitment to building a more inclusive and resilient export ecosystem. He noted that Sarawak is now on a solid path toward export development, with growing participation of companies in Matrade's programmes. 'Sarawak has high export potential. We are seeing increased participation by companies in Matrade's export development programmes and this must continue to ensure more entrepreneurs in the state can compete globally,' he added. Reezal Merican also emphasised that Matrade will continue to serve as a facilitator for exporters through business matching initiatives, export promotion and capacity building. 'From 2024 to May 2025, a total of 382 companies from Sarawak were supported under Matrade's export development and promotion programmes, generating nearly RM1bil in export value,' he added. The state-level Export Day serves as an important platform to strengthen public-private collaboration in driving export growth. Key activities over the two days included engagement sessions, business matching, export clinics and technical briefings involving government agencies and financial institutions. Following Sarawak, Matrade will continue its Export Day series in other states, including Selangor and Negeri Sembilan, scheduled for August 2025. This effort is part of a national initiative to broaden local companies' participation in global markets while supporting the country's export growth in an inclusive and sustainable manner.
Borneo Post
02-07-2025
- Business
- Borneo Post
Awang Tengah: Sarawak shifts focus to value-added exports and green energy leadership
Awang Tengah (seated centre) in a group photo with guests and participants during the event. Also seen are Mussen (seated third right), Reezal (seated third left) and other officials. KUCHING (July 2): The Sarawak government is actively pursuing value-added growth and is no longer focusing solely on raw commodity exports, said Deputy Premier Datuk Amar Awang Tengah Ali Hasan. The International Trade, Industry and Investment Minister said the state is now laying the foundation for advanced manufacturing, green economy initiatives and digital-based exports as part of a long-term strategy to build a more resilient and innovation-driven economy. 'We are investing in the future, which is in renewable energy, semiconductors and high-value sectors that will position Sarawak as a major economic force in the region. 'Our focus has thus shifted because we want to go beyond exporting crude oil, gas and palm oil,' he said during his keynote address at the launching ceremony of Sarawak Export Day 2025 held at a local hotel here today. He added that Sarawak is poised to lead the country in green energy development, with active initiatives in hydropower, solar, biomass and hydrogen production. To support this ambition, Awang Tengah said the state has amended its Electricity Ordinance to allow greater investor participation in boosting generation capacity. 'We have set a clear target in which by 2030, we aim to generate at least 10,000 megawatts of electricity, and by 2035, 15,000 megawatts which will all be from clean and renewable sources,' he said. Awang Tengah also mentioned that Sarawak will be developed into a hub for semiconductor manufacturing and aerospace economic activities, reflecting the state's shift towards high-technology industries and global competitiveness. These sectors, he said, offer enormous potential, and Sarawak wants its local players to seize the opportunities and grow alongside global industry leaders. Commenting on investments, he said the state government's message is clear: investment is the cornerstone of Sarawak's future, not only to boost exports and gross domestic product but also to transform the economic landscape, drive technological advancement, and ensure inclusive prosperity for Sarawakians. 'Since 2021, Sarawak has approved over RM102 billion in investments involving 1,180 projects. These projects are expected to create nearly 23,000 job opportunities and open doors for small and medium enterprises (SMEs) to participate in supporting industries,' he said. To further boost global engagement, Awang Tengah said Sarawak is expanding its international trade network, adding that in addition to existing offices in Singapore and Brunei, a new trade office will soon open in Pontianak, Indonesia. Also present during the event were Deputy Minister of International Trade, Industry and Investment Datuk Dr Malcolm Mussen Lamoh, Malaysia External Trade Development Corporation (Matrade) chairman Datuk Seri Reezal Merican Naina Merican and other officials. Sarawak Export Day 2025 was jointly organised by the Ministry of International Trade, Industry and Investment Sarawak and Matrade. Awang Tengah export lead sarawak value-added growth
