Latest news with #MalaysiaExternalTradeDevelopmentCorp
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
26-06-2025
- Business
- The Star
Matrade eyes RM4.5bil trade sales from Mihas 2025
Matrade chief executive officer Datuk Mohd Mustafa Abdul Aziz. PETALING JAYA: The Malaysia External Trade Development Corp (Matrade) is setting its sights on RM4.5bil in halal trade sales for its upcoming 21st Malaysia International Halal Showcase (Mihas 2025), with the event expected to draw 45,000 visitors. The event, which includes the International Sourcing Programme (INSP) Mihas, will return in a hybrid format. The physical session will make its debut at the Malaysia International Trade and Exhibition Centre (Mitec) on Sept 17, 2025, while the virtual sessions will run from April 1 to Nov 5, 2025. Matrade aims to attract a total of 450 buyers for INSP Mihas, including 250 physical participants, 150 virtual buyers and 50 premium buyers. This compares to 330 buyers from 53 countries recorded in the previous edition, which generated RM2.53bil in sales. 'Building on the strong momentum of Mihas 2024 which generated RM4.3bil in sales and drew over 43,000 visitors from 90 countries, Mihas 2025 is poised to reach new heights,' said Matrade chairman Datuk Seri Reezal Merican Naina Merican in a statement. 'With an ambitious target of RM4.5bil in halal trade and 45,000 international visitors, we are amplifying our global impact through smarter, tech-driven connections,' he said, noting the role of the agency's artificial intelligence-powered Madani Digital Trade Platform in facilitating business matching. Matrade chief executive officer Datuk Mohd Mustafa Abdul Aziz said the decision to host INSP Mihas at Mitec reflects Malaysia's growing presence in the halal sector. 'Bringing the physical INSP Mihas to Mitec marks an important milestone for us. It offers Malaysian businesses a central platform to engage with a wider pool of global buyers and expand their reach in the international marketplace,' he said. 'As we scale up, we remain committed to forging meaningful global partnerships and creating greater market access for halal businesses around the world,' he added. INSP Mihas 2025 will involve exporters from 19 sectors such as halal food, fashion, pharmaceuticals, cosmetics, logistics, Islamic finance, information and communications technology and education. The showcase is also expected to host 1,700 exhibitors across 2,380 booths and include 45 country pavilions. Registration for the physical and virtual sessions closes on July 15 and Nov 5, respectively.
