Investments worth RM69.2m approved for M&E projects In Jan-March

KUALA LUMPUR: The machinery and equipment (M&E) industry had 12
manufacturing projects approved with investments amounting to RM69.2
million during January-March.

Deputy International Trade and
Industry Minister Datuk Jacob Dungau Sagan said on Thursday, May 5 that
of the total, RM14.2 million were from foreign investors while RM55
million from local players.

"This reflects the continued
confidence by foreign investors over the long-term potential growth of
the industry," he said when opening the MTA Malaysia 2011 and Metaltech
Malaysia 2011 exhibitions here.

During the same period, he said exports of M&E products rose 8.2 per cent to RM3.4 billion.

Heating and cooling equipment and parts were the major export
components of M&E products which accounted for 26 per cent of total
exports or RM890 million.

Jacob said the M&E industry was a cross-cutting link sector for high TECHNOLOGY []
industries, thus the emphasis for growth was on high value added and
high technology M&E to provide support and services for the sectors
identified under the National Key Economic Activities (NKEAs).

"This intends to shift our reliance from semi-skilled and low cost
labour to one that hinges on advanced manufacturing, high technology and
a modern services sector and also employing highly skilled talent," he
added.

Among the 12 NKEAs, the M&E industry is involved
in the oil and gas and energy, aerospace, electrical and electronics,
and ICT industries. - Reuters