The Malaysian manufacturing sector's growth outlook for 2011 remains rosy despite the challenging global economic environment.
Federation of Malaysian Manufacturers (FMM) President Tan Sri Mustafa Mansur noted that manufactures in general have reported good results in the first quarter especially those in the electronic and electrical, and the chemical sectors.
"We have observed that many manufacturers have big orders at hand and are stepping up production," he said this to reporters after the launch of Understanding Incoterms 2010 seminar today.
Mustafa was asked on the outlook for the manufacturing sector this year amid rising production cost and the political turmoil or economic uncertainties in West Asia, Europe and the United States.
While uncertainties dominate the traditional markets, the earthquake and tsunami that struck Japan had inadvertantly opened up new opportunities for Malaysian manufacturers, especially for Malaysian small-and-medium enterprises (SMEs) and small-and-medium industries (SMIs).
"While it is not proper to take advantage of others' misery, we must admit that Japan will now relook into its manufacturing options and probably outsource production or relocate its production process.
"This will provide big opportunities for Malaysia and manufacturers here, especially for those in the automative component manufacturing segment," said Mustafa, adding that Malaysian SMEs and SMIs should gear themselves to grab available opportunities from Japan's change of policy. -- Bernama
Federation of Malaysian Manufacturers (FMM) President Tan Sri Mustafa Mansur noted that manufactures in general have reported good results in the first quarter especially those in the electronic and electrical, and the chemical sectors.
"We have observed that many manufacturers have big orders at hand and are stepping up production," he said this to reporters after the launch of Understanding Incoterms 2010 seminar today.
Mustafa was asked on the outlook for the manufacturing sector this year amid rising production cost and the political turmoil or economic uncertainties in West Asia, Europe and the United States.
While uncertainties dominate the traditional markets, the earthquake and tsunami that struck Japan had inadvertantly opened up new opportunities for Malaysian manufacturers, especially for Malaysian small-and-medium enterprises (SMEs) and small-and-medium industries (SMIs).
"While it is not proper to take advantage of others' misery, we must admit that Japan will now relook into its manufacturing options and probably outsource production or relocate its production process.
"This will provide big opportunities for Malaysia and manufacturers here, especially for those in the automative component manufacturing segment," said Mustafa, adding that Malaysian SMEs and SMIs should gear themselves to grab available opportunities from Japan's change of policy. -- Bernama
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