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BUSINESS

Ferrotec's expansion will turbocharge local talent development

18/05/2022 07:36 PM

KUALA LUMPUR, May 18 (Bernama) -- Ferrotec Holdings Corporation (Ferrotec) decision to set up its high-tech manufacturing facility in the Kulim Hi-Tech Park will turbocharge the local talent development and strengthen Malaysia’s value proposition in the global supply chain.

In a statement today, Senior Minister and Minister of International Trade and Industry (MITI) Datuk Seri Mohamed Azmin Ali said Ferrotec’s move is a testament to the country’s talent readiness, as well as the strength and capability of its manufacturing and business ecosystems.

“The project is anticipated to create approximately 250 high-value jobs for Malaysians. As a tier one company supplying to multinational corporations in semiconductor industry, the company has committed to provide trainings to Malaysian employees at its factories in Japan and the United States.

“The investment will open up greater possibilities for other global companies in the industry to follow suit and invest in Malaysia," he said.

Meanwhile, Malaysian Investment Development Authority (MIDA) chief executive officer, Datuk Arham Abdul Rahman said Ferrotec is set to benefit from Malaysia’s attractive talent pool, positive investment environment and diversified supply chain, enabling it to enhance its offerings to its global customers.

MIDA said in 2021, the machinery and equipment (M&E) industry recorded 48 approved projects with total investments of RM1.67 billion from both foreign and domestic sources.

These projects are expected to generate 2,500 employment opportunities in the managerial, technical and engineering-related segments.

-- BERNAMA

 


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