Kuala lumpur: Malaysia needs to grow its own multinational companies (MNCs) in the services and manufacturing sectors, said Deputy Investment, Trade and Industry (MITI) Minister Liew Chin Tong. He emphasized that the industry has traditionally been guided by theories that treat manufacturing and services as mutually exclusive, including the belief that economies will eventually shift toward services and move away from manufacturing.
According to BERNAMA News Agency, Liew stated that while the services sector is crucial, it must grow hand in hand with manufacturing to strengthen the broader economy. “Our port facilities, our port services, our airport services, our air services, our airlines, the supply chain is very much both a manufacturing activity and also a service,” he explained. “So I think it is important for us to do away with the theory of separating services from manufacturing, and we want to see a lot more value-adding to increase and improve both manufacturing and services sectors,” he added during his opening address at the ASEAN International Fair For Trade In Services (AIFTIS) 2025.
Meanwhile, Malaysian Service Providers Confederation (MSPC) president Datuk Seri Zohari Akob highlighted that AIFTIS 2025 would serve as Malaysia’s service providers’ annual reporting platform. This platform aims to provide clarity on pillars that define productivity and competitiveness, which include industry trust mark, professional mobility, capacity building, technology adoption and cyber security, as well as trade connectivity and market access.
Zohari pointed out that these pillars are fundamental in guiding their actions, suggesting that through collaborations, Malaysia can position itself as the leading hub for professional and digital services in ASEAN. “The story of Malaysia’s service sector is one of resilience, innovation and shared purpose,” he remarked. “AIFTIS brings these pillars together, aligning private sector initiatives with public sector leadership to create an ecosystem of trust, technology and talent,” he stated in his welcoming speech for the event.