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BUSINESS

Malaysia approves RM2.3 billion investments to make sanitary-related products

03/09/2019 08:59 PM

KUALA LUMPUR, Sept 3 -- The Malaysian Investment Development Authority (MIDA) has approved 21 projects to manufacture sanitary-related products, involving investments of RM2.3 billion, from 1980 to June this year.

Of the total, RM2.2 billion comprised foreign investments while the balance of RM125 million was from domestic sources, MIDA said in a statement today.

The statement was issued in conjunction with Hong Kong-listed Vinda Group's ground-breaking ceremony for its Southeast Asia regional headquarters (HQ) in Bukit Raja, Klang, today. 

MIDA, the government's principal promotion agency under the Ministry of International Trade and Industry (MITI), lauded efforts by Vinda Group, a leading manufacturer of branded hygiene products such as baby diapers, incontinence products and feminine protection products, to fortify its presence in the region through the establishment of the regional HQ.

“We foresee that Vinda Group’s new regional HQ will be a catalyst in boosting the development of its related products’ industry ecosystem in the country. It will also be able to provide its customers with better access to global markets and greater flexibility in service offerings,” said MIDA chief executive officer Datuk Azman Mahmud in his speech.

The speech was read by executive director of manufacturing development (resource), Mohamad Ismail Abu Bakar.

Azman also commended the efforts undertaken by the group to harness the potential of Industry 4.0, which is in line with the government’s Industry4WRD initiative.

“This will pave the way for enhanced productivity as well as the creation of high-value jobs that will contribute to Malaysia’s economic prosperity and societal well-being.

“We hope to see more companies emulating Vinda Group and raising their bar in terms of best practices and productivity in the near future. This will in turn create better jobs for the country,” he added.

-- BERNAMA


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