“The shift of supply chain has been going on for some time and the trade war has just accelerated the shift,“ US-Asean Business Council senior vice president and regional managing director Michael W Michalak told a press conference at “The Potential of Industry 4.0 for Malaysian SMEs” workshop here this morning.
Big US firms are expediting efforts to move more of their supply chains from China to neighbouring countries, including Malaysia, in light of Trump administration tariffs.
“The movement (of US firms) into Malaysia has been quite big and its of importance to us that we’re able to provide to them what they expect as well,“ said International Trade and Industry Minister Datuk Darell Leiking (pix).
However, US Ambassador to Malaysia Kamala Shirin Lakhdhir opined that the trade war is not a single factor, pointing out that the decisions to invest in Malaysia are based on a range of factors.
Source: The Sun Daily