Over 98% of the total number of manufacturing projects approved in Malaysia over the last year have already been implemented or are in the planning stages, as of the beginning of this month.

This is according to the country’s Minister of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Abdul Aziz.

Indeed, Malaysia registered a total of RM152 billion approved investments for the manufacturing sector throughout last year, with RM46.1 billion realised in 2023, comprising of 445 projects, The Star reports.

“As the ministry and its relevant agencies, like the Malaysian Investment Development Authority and the Malaysia External Trade Development Corp, have diligently pulled out all the stops in the past one and a half years in realising and implementing committed investments and exports, we are seeing more and more companies wanting to make Malaysia their regional manufacturing or services hub,” the minister stated during his speech at the soft launch of the 3D Visualisation and Virtual Augmented Mixed Reality Lab

“This means that Malaysia is where global companies can situate their regional hubs, and where domestic homegrown companies can grow into global champions,” he went on to add.

The launch of the 3D lab, a project spearheaded by the National Aerospace Industry Corporation Malaysia, within the Malaysian Aerospace Centre of Excellence, took place during the Defence Service Asia 2024 exhibition.