Malaysia to become major machine tools producer

Malaysia has the potential to become a regional major producer and centre of machinery and equipment (M&E), Deputy International Trade and Industry Minister Datuk Jacob Dungau Sagan said. He said that in the first quarter of 2010, the country's machinery, parts and appliances exports rose 16.9% to RM5.26 billion (US$1.56 billion), while imports increased by a much lesser percentage of 9.8 to RM9.73 billion (US$2.88 billion). "For the first two months of the year, the Malaysian Industrial Development Authority approved a total investment of RM46 million (US$13 million), of which RM41.4 million (US$12 million) was domestic direct investment," he said.New Balance