Latest news with #IHW2025
The Star
7 days ago
- Business
- The Star
Trade deals must support economic reforms and growth, says minister
KUALA LUMPUR: Poor deals will have long-term repercussions on Malaysia, and that is why Putrajaya has several principles when it negotiates with the US, says Investment, Trade and Industry Minister (Miti) Tengku Datuk Seri Zafrul Abdul Aziz. Tengku Zafrul said Putrajaya's negotiating stance with the US is that any deals reached between the two countries must support Malaysia's economic reforms and sustainable growth policies. 'Our negotiating stance is always to ensure that whatever deal we land on will support the country's economic reforms and sustainable growth policies. 'Catchy, feel-good headlines last a few days, a week at the most. 'But poor deals will have long-term consequences on our people, industries and economy. 'I am certain negative long-term outcomes are not what the public wants nor what current and future taxpayers need,' said Tengku Zafrul in his opening remarks at the International Healthcare Week 2025 (IHW 2025) here yesterday. He also said Putrajaya will never sacrifice the country's sovereignty or sideline other trading partners in trying to close a deal with the US. 'Our people's rights, our country's sovereignty and trust with our valued partners are not bargaining chips,' added Tengku Zafrul. Malaysia is currently facing a 25% tariff rate for all exports entering the US and Putrajaya has until Aug 1 to negotiate with the US. According to Tengku Zafrul, trade negotiations are a complex multi-stakeholder process, where relevant ministries and agencies must be consulted to ensure a smooth implementation after negotiations. 'For context, the average duration for a regular trade negotiation is 18 months. For Miti, the fastest on record thus far is 11 months,' said Tengku Zafrul, referring to the recently signed comprehensive partnership agreement between Malaysia and the United Arab Emirates (UAE). 'So, we need to be realistic about trade deals that can be completed within 90 days,' he added. Tengku Zafrul also said that Putrajaya wants to ensure that any agreement with the US supports an open, rules-based and fair, multilateral trade, with the World Trade Organisation at its core. 'The agreement must also safeguard market access, while recognising the need of emerging countries like Malaysia to develop sustainable supply chains and economies,' said the minister. He also said that Malaysia values its economic ties with the US, noting that last year, Malaysia-US trade rose to nearly 30% to RM324.9bil, with Malaysia being an important source for products such as electrical and electronics (E&E), machinery, rubber gloves and palm oil. He said that Malaysia has been an important production base for US investments for at least five decades. 'From 1980-2024, there have been 169 American investment projects in Malaysia (RM77.5bil), in sectors such as E&E, machinery and scientific equipment,' he added. Tengku Zafrul said that for the past 50 years, these companies have received various investment incentives such as investment tax allowances, automation capital allowance and high-impact grants which are valued at RM4.1bil cumulatively. Annual incentives, he said, in the recent years have been between RM800,000 and RM1.2bil. 'So, we will continue to uphold the principles of positive reciprocity and fair competition while working alongside industry to innovate, diversify and maintain our resilience in the global market. 'These developments are also strong reminders of how and why we must always be ready, agile and adaptable to external shocks,' said Tengku Zafrul. Speaking to reporters at the sidelines of IHW 2025, he said that Malaysia is still negotiating a deal to lower tariffs with the United States ahead of the Aug 1 deadline. The minister said that while US President Donald Trump announced that Indonesia has struck a deal for a 19% tariff rate, he has not obtained further information from the Indonesian government. 'Let's wait for Indonesia's announcement. We are still in negotiations, we have until Aug 1. 'We still have time; most importantly, we must ensure that this is a negotiation that is beneficial to both countries. It must be win-win,' added Tengku Zafrul. Trump yesterday announced that Indonesian goods entering the US will face a 19% tariff, significantly lower than the 32% rate given to Jakarta earlier this month. Malaysia is facing a 25% tariff rate, up 1% from the initial 24% rate announced in April. Earlier this month, Trump announced varying tariff rates on 14 countries to take effect on Aug 1, including a 25% rate on Malaysia, Japan, South Korea, Tunisia and Kazakhstan. Other countries were hit with higher rates such as Cambodia (36%), Thailand (36%) and 40% in Laos and Myanmar, respectively.
The Star
17-07-2025
- 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 Sun
16-07-2025
- Health
- The Sun
Malaysia ready to lead, build a more resilient and healthier world: Tengku Zafrul
KUALA LUMPUR: Malaysia is striving to establish itself as a global healthcare hub, underpinned by industrial reform, international partnerships and growing trade diplomacy. 'It is a declaration that Malaysia is ready to lead, collaborate and build a healthier, more resilient future not just for our nation, but for the world,' Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said in his keynote address when launching International Healthcare Week 2025 (IHW 2025) at Malaysia International Trade and Exhibition Centre here today. Tengku Zafrul identified healthcare as one of five priority sectors under Malaysia's industrial policy framework, citing strong performance in 2024. The sector attracted RM2.13 billion in investments in medical devices and pharmaceuticals, generated over 2,700 high-value jobs, and recorded a 7.8% increase in pharmaceutical exports during the first five months of 2025. The minister noted that Malaysia now hosts eight of the world's top 30 medical device manufacturers and over 300 healthcare companies, driven by a skilled workforce, mature supply chain and investor confidence. Tengku Zafrul said Malaysia, as Asean Chair in 2025, Malaysia is using IHW as a platform to promote deeper regional healthcare integration. He emphasised the importance of inclusivity, adding that no Asean member is left behind in advancing towards a more united, resilient and future-ready Southeast Asia. The event highlights Malaysia's readiness to lead globally in healthcare innovation, trade and strategic partnerships, despite growing external trade pressures, Tengku Zafrul said. 'Let us work together to shape a healthier, more connected and innovative future for Asean and the world.' IHW 2025, the region's largest healthcare event is co-hosted with Informa Markets, and features five major healthcare trade shows in one venue, covering medical devices, pharmaceuticals, diagnostics, digital health and medical technology. With over 900 exhibitors, more than 21,000 visitors from 50 countries, and 125 conferences, the event reflects Malaysia's growing ambition to lead Asean's healthcare transformation. Meanwhile, in addressing recent tensions surrounding US reciprocal tariffs, Tengku Zafrul assured stakeholders that Malaysia remains committed to protecting domestic industries. 'We are actively engaging with our US counterparts in good faith to seek clarity, minimise disruption and reach a mutually beneficial outcome,' he said, adding that Malaysia would never sacrifice sovereignty or sideline other trading partners. Tengku Zafrul acknowledged that Malaysia is facing an Aug 1 deadline to conclude ongoing tariff negotiations with the US, with pharmaceutical exports potentially subject to tariffs as high as 200%. 'We are closely monitoring developments, and contingency plans are being put in place. But let me be clear, quick fixes may win headlines, but poor trade deals will hurt Malaysia for years. We remain committed to an open, fair and rules-based multilateral trading system under the WTO (World Trade Organization),' he said. Tengku Zafrul emphasised the importance of these relationships in the face of global uncertainty, noting that incentives and reform strategies support them. Malaysia-US trade surged nearly 30% to RM324.9 billion in 2024, while American investments into Malaysia totalled RM77.5 billion since 1980. Informa Markets president and CEO Margaret Ma Connolly reaffirmed Malaysia's strategic value as a healthcare destination and trade gateway in Asia. 'Malaysia's leadership and supportive initiatives position it as a gateway for global healthcare collaboration. IHW 2025 is a pivotal event to elevate regional healthcare cooperation and economic growth.' She said the co-location of five flagship exhibitions under one roof offers a complete view of the healthcare value chain, making it a must-attend platform for global innovators. Spanning 26,000 square metres, IHW 2025 integrates CPHI Southeast Asia (pharmaceutical supply chain), WHX Kuala Lumpur (medical devices and hospital technology), WHX Labs (diagnostics and laboratory equipment), Medtec Southeast Asia (medical device design and manufacturing) and HIMSS APAC (digital health innovations), providing attendees with a comprehensive showcase of the latest in healthcare technologies and solutions. 'IHW 2025 brings together thought leaders, innovators, policymakers and investors to shape the future of healthcare across Asean and beyond,' Connolly said.
Barnama
14-07-2025
- Business
- Barnama
Malaysia To Host Medtec Sea 2025, ASEAN's Premier Medical Tech Conference
KUALA LUMPUR, July 14 (Bernama) -- Malaysia will host Medtec Southeast Asia 2025, the region's leading medical technology conference and exhibition, from July 16 to 18 at the Malaysia International Trade and Exhibition Centre (MITEC). The event, organised in conjunction with International Healthcare Week 2025 (IHW), is expected to bring together medical device regulators, manufacturers, innovators, and investors from across ASEAN to chart the region's future in the medical technology industry. Informa Markets regional portfolio director for Asean, Rungphech (Rose) Chitanuwat, who plays an influential role in shaping major trade exhibitions in Southeast Asia, said participants at IHW 2025 will have the unique advantage of exploring multiple healthcare sectors and attending 125 conference sessions tailored to diverse healthcare domains -- all under one roof. 'This integrated format eliminates the need to travel between separate events, allowing attendees to maximise their time and resources while gaining a comprehensive understanding of the latest market trends, innovative technologies and cutting-edge solutions,' she said in a statement to Bernama. Medtec Southeast Asia 2025 aims to position ASEAN as a major player in the global medical technology landscape by promoting cross-border collaboration, regulatory harmonisation and innovation. Meanwhile, MdDev Sdn Bhd, the conference partner, said this year's event is not just about networking but about advancing ASEAN's capabilities in medical technology to meet both regional and international healthcare demands. With the theme 'Driving Innovation & Manufacturing Excellence in the MedTech Ecosystem,' the event will focus on emerging areas such as medical device research and development, halal medical device certification, digital health solutions, and strategies for expanding market access across ASEAN and beyond. Participants will gain insights into transformative healthcare technologies, including artificial intelligence (AI) integration, augmented and virtual reality (AR/VR) applications in medical devices, and the Internet of Medical Things (IoMT). More than 40 sessions will be held over the three-day event, covering topics such as regulatory compliance, Industry 4.0 applications in medical device manufacturing, and strategies for market entry into ASEAN, the United States, Europe and other key regions.
The Sun
30-06-2025
- Business
- The Sun
Hosting IHW 2025 solidifies Malaysia's status as premier healthcare hub in Asean
KUALA LUMPUR: Malaysia's robust healthcare market growth, thriving medical tourism industry, strategic regional position, supportive government policies and ongoing improvements in healthcare infrastructure make it an ideal location to host International Healthcare Week 2025 (IWH 2025), which will take place from July 16 to 18. Informa Markets' regional portfolio director for Asean, Rungphech Chitanuwat, said this event will solidify Malaysia's status as a premier healthcare hub in Asean and serve as a gateway for global healthcare collaboration. 'As Asean Chair in 2025, Malaysia plays a pivotal role in promoting regional healthcare cooperation, addressing critical challenges such as supply chain resilience, digital health adoption and sustainable health financing through platforms like the EU-Asean Health Summit,' she told SunBiz. Rungphech said exposure at IHW 2025 can lead to increased export opportunities and attract investment for local manufacturers, allowing them to penetrate international markets more effectively. With medical tourism revenues expected to triple by 2032, IHW 2025 strengthens Malaysia's global appeal by showcasing its affordability, service quality and innovation in treatment options. 'The event reinforces Malaysia's status as a trusted healthcare destination for international patients,' Rungphech said. She noted that the success of IHW 2025 relies on robust partnerships between government bodies and private sector leaders to position Malaysia as a leading healthcare hub and gateway to the Asean market. 'IHW 2025 conference sessions lead conversations on new tech, policy innovation and public-private collaboration to the table with tangible solutions. We are not just showcasing products – we're helping shape systems,' Rungphech said. She added that IHW 2025 will integrate five major international trade exhibitions under one roof, covering the healthcare value chain, enhancing opportunities to learn, fostering meaningful collaboration and investment, and showcasing innovation across various healthcare sectors. Each exhibition is accompanied by dedicated conferences tailored to the specific needs and developments of their respective industries. Notable mentions include CPHI South East Asia, which encompasses the entire pharmaceutical production supply chain, and WHX Kuala Lumpur (formerly Asia Health), which focuses on medical devices, hospital services and healthcare systems. WHX Labs Kuala Lumpur (formerly Medlab Asia) will feature its premier medical laboratory event in the region, while Medtec Southeast Asia specialises in the design and manufacturing of medical devices and technologies. HIMSS (Healthcare Information and Management Systems Society) is a leading global conference that will explore key themes in digital health, including artificial intelligence, data innovation, workforce transformation, and equitable care delivery. 'By hosting IHW 2025 in Malaysia, we are not only enhancing the country's position as a key player in pharmaceuticals but also supporting national objectives for drug security and export development. 'We aim to create a lasting impact by advancing Malaysia's healthcare capabilities, fostering resilient supply chains, and enabling the region to meet future public health challenges through collaboration, education and innovation,' Rungphech said. Touching on key trends in digital health, she noted that Malaysia's healthcare IT market is projected to grow at a compound annual growth rate of 17.9%. IHW 2025 provides a global platform to accelerate digital adoption and innovation in this space. 'HIMSS, one of our co-located events, highlights digital transformation, AI, cybersecurity and workforce efficiency. 'There will be exclusive keynotes on cutting-edge health IT topics, interactive demonstrations, and a digital health technology exhibition, all designed to enhance knowledge and foster innovation in healthcare in Malaysia and the APAC region,' Rungphech said. She added that IHW 2025 is a catalyst for innovation where local companies and startups will benefit from exposure to global investors, access to business matchmaking platforms and opportunities to showcase solutions alongside international players. This is especially timely as Malaysia ramps up digital healthcare adoption, she said. Furthermore, Rungphech said, there will be more than 125 conference sessions, with over 15,000 products on display and an anticipated attendance of over 21,000. 'We aim to create a lasting impact by advancing Malaysia's healthcare capabilities, fostering resilient supply chains and enabling the region to meet future public health challenges through collaboration, education, and innovation. Essentially, this would mean more collaborations between industry players on the ground, easier access and likely partnerships,' Rungphech said. Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow, she said. 'At IHW 2025, we provide marketplace participants around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, targeted digital services and actionable data solutions. We encourage the opportunity to connect buyers and sellers across more than a dozen global verticals. 'These conference sessions provide platforms for healthcare professionals, policymakers, researchers and industry leaders to share the latest research, clinical guidelines and successful strategies for NCD (non-communicable disease) prevention, early detection, management, and rehabilitation,' Rungphech said. IHW 2025 brings together health ministers, policymakers, public health experts, and industry stakeholders from across Asean and beyond, she said, adding that this facilitates crucial networking and partnership-building for cross-border collaboration on pandemic preparedness.
